SANTA FE, TEXAS, January 19, 2022 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Santa Fe Storage Portfolio (Houston MSA), a four property self-storage portfolio located in Santa Fe, Texas, according to Ford Noe, Regional Manager of the firm's Houston office.

Dave Knobler, Senior Vice President Investments in Marcus & Millichap's Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. "I had been approached by would be buyers for years, but Dave was able to get us more for the properties than my wife and I thought was possible," said the Seller Raymond Haak. "Like seemingly every corner of Houston, Santa Fe is experiencing growth and the market responded to an opportunity to take these assets to the next level," said Knobler. The buyer, a private investor based out of Los Angeles, was also secured by Dave Knobler.

The properties sit on approximately 4.35 acres of land and there are 17 single story buildings and one two story office residence. There are a total of 677 rentable spaces made up of 655 non-climate units, 21 outdoor parking spaces, and an efficiency apartment. All the properties have entrance gates with a digital keypad access. The Highway 6 location was constructed in 1984, the FM 1764 and Avenue G ½ properties were built in 1980, and the Avenue J asset was constructed in 1979. There is an on-site management office with a residence at the Highway 6 location while the other properties are unmanned. The four properties are located either on or close to the main streets in Santa Fe within about a 2-mile radius and provide convenient access to customers throughout the town.

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry's most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

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Marcus & Millichap Inc. published this content on 19 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2022 17:30:08 UTC.