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 Northland Boat & RV Storage, a 63,820-net rentable square foot Boat/RV Storage facility located in Spring, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office.

Dave Knobler, First Vice President Investments, in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a family trust. The buyer, a limited liability company, was secured by Juan Cuevas, First Vice President Investments who is a multi-family investment specialist in Marcus & Millichap’s Houston office. “I received 10 offers for the facility and it was an extremely competitive process” said Knobler. “The facility was a picture of stability, but it had additional land included that the Seller never built on which was upside the market found to be very attractive.” In addition to the collaboration between the two Marcus & Millichap Investment Sales Specialists, there was even more collaboration as Rico Buot, an Originator for Marcus & Millichap Capital Corporation (MMCC) was able to secure the debt for the investor.

Northland Boat & RV Storage is located at 4133 Greenleaf Drive in Spring, 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.