Marcus & Millichap Arranges Sale of Texas Storage Facility
- Jan 03, 2019
The Mele Group of Marcus & Millichap has arranged the sale of A Storeroom Mini-Storage, a 67,900-square-foot facility in New Braunfels, Texas. Marcus & Millichap’s Tampa-based office worked together with the firm’s office in San Antonio to market the property on behalf of the seller, a limited liability company. The brokerage team represented the buyer, also a limited liability company.
Situated at 2957 FM 725, A Storeroom Mini-Storage is close to Interstate 35 and Freeway 46, approximately 40 miles from downtown San Antonio and 8 miles from New Braunfels Regional Airport. The facility is located near several residential zones; there are more than 1,000 units completed or in the planning stages within a 3-mile radius.
The storage facility was built in 1984 and expanded in 2017, yielding an additional 219 units for 582 total units. The 20-building asset occupies 4.6 acres and comprises non-climate-controlled units, ranging from 50 to 300 square feet, Yardi Matrix data shows. The gated facility features drive-up access and security cameras and also offers on-site management.
Marcus & Millichap’s brokerage team included Jon Danklefs and Michael Mele, investment specialists. In December, the firm’s Tampa- based office also arranged the sale of Storhouse Paxton Street, a 598-unit storage facility in Harrisburg, Pa.
Image courtesy of Yardi Matrix