Texas Self Storage Facility Changes Hands
Marcus & Millichap’s Houston- and Denver-based offices brokered the sale of the 529-unit storage property located in Katy, around 30 miles from downtown Houston.
Storage Place. Image courtesy of Yardi Matrix
The LeClaire Group of Marcus & Millichap has arranged the sale of Storage Place, a 131,003-net-rentable-square-foot facility in Katy, Texas. The brokerage team worked on behalf of the seller, a Houston-area partnership.
The facility is situated at 5310 East 5th St. but has frontage on Katyland Drive as well. The two streets provide exposure to roughly 14,000 vehicles per day. Additionally, the property is also close to the intersection of Freeway 90 and Interstate 10 and is approximately 30 miles from downtown Houston. Besides these, the asset is near the Katy Mills Mall, Typhoon Texas Waterpark and other retailers.
Constructed in five phases between 1984 and 2005, the 19-building storage facility occupies 8.6 acres and comprises a total of 529 units out of which 137 are climate- and 363 non-climate-controlled. Characteristics of the asset also include 25 covered and four outside parking spaces. The site also has additional room for expansion.
Marcus & Millichap’s brokerage team included First Vice President Dave Knobler of the firm’s Houston-based office and Executive Managing Director Charles LeClaire based in Denver. In February, CPE reported the sale of Spencer Mini Storage, located in La Porte, Texas. The deal was also facilitated by The LeClaire Group.
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