Texas Storage Facility Changes Hands

Marcus & Millichap’s Fort Worth-based office arranged the sale of a 509-unit facility in Mineola.
KeepIt Mini Storage. Image courtesy of Marcus & Millichap

Karr Self Storage Group of Marcus & Millichap has arranged the sale of KeepIt Mini Storage, an 88,800-square-foot facility in Mineola, Texas. The firm represented the seller and procured the investor, a 1031 exchange buyer.

At 1113 County Road 2220 in Mineola, the property is situated within an undersupplied trade area, where there are no self storage facilities within at least a 5-mile radius, according to Yardi Matrix. The storage is positioned alongside Freeway 69, around 30 miles from downtown Tyler. Additionally, the asset is also located near communities such as West Mineola, Golden and Hainesville.

Constructed in phases between 1994 and 2017, the asset encompasses 116 climate- and 393 non-climate-controlled units, an 1,800-square-foot business center and four uncovered parking spaces. Additional characteristics include garage-style roll-up doors, 24-hour surveillance, perimeter fencing and lighting and personalized key-pad entry.

Senior Vice President Brendon Karr and Senior Associate Danny Cunningham in Marcus & Millichap’s Fort Worth office brokered the transaction. The team’s latest deals include the sale of a 60,856-square-foot boat storage in Fort Worth.