Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Jumbo Self Storage, a 47,700-square foot self-storage located in Pasadena, Texas.

Roger L. Hendricks, first vice president investments in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, a limited liability company, and procured the buyer, a private investor.

Hendricks was able to generate more than 10 offers and one all cash offer. The buyer and seller ultimately reached an agreement that provided 40% more than an unsolicited offer presented.

“The asset was at full occupancy at the time of sale with significant deferred maintenance and upside,” said Hendricks. “Through our platform and open culture, there were offers from within our firm and outside the firm that were presented, which resulted in a win-win situation for all parties involved.”

Jumbo Self Storage is located at 4931 Allen Genoa Road in Pasadena, Texas.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 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.