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 Creekside Storage, a 33,600 net rentable square-foot, self-storage located in Cypress, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office.
Dave Knobler, First Vice President Investments and Casey Kral, Associate in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer was an El Paso, Texas based LLC.
“Self-Storage assets have proven to be quite resilient during the COVID-19 pandemic,” said Knobler, “This was evidenced by the competitive marketing process where we were able to procure seven offers.”
Creekside Storage is located at 14660 Spring Cypress Road in Cypress, Texas. The property boasts traffic counts of around 16,000 vehicles per day and a three-mile average household income of nearly $150,000.
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.