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 West Bellfort Self Storage, a 42,925-square foot self-storage located in Houston, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office.
Dave Knobler, First Vice President Investments in Marcus & Millichap’s Houston, Texas office and Charles "Chico" LeClaire, Executive Managing Director Investments in Marcus & Millichap’s Denver, Colorado office, had the exclusive listing to market the property on behalf of the Seller, a Houston based LLC. “170 and 170 was my catchphrase on this one,” said Knobler, “There are 170,000 people living within 3 miles of the southwest Houston asset and the facility is a block away from the intersection of West Bellfort and Beltway 8 which sees around 170,000 vehicles daily.” Knobler continued, “The response from the market was fantastic, we received numerous offers and had a very competitive best and final round.” The Buyer was a Dallas-based LLC.
The property sits on 4.35 acres with 8 metal framed single story buildings consisting of 350 drive-up non-climate storage units. The facility was built in 2008 and has numerous amenities including but not limited to, concrete driveways, perimeter wrought iron fencing and a full-service on-site manager’s office and residence.
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 9,726 transactions in 2019 with a value of approximately $50 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.
