February 4, 2019
A two-property self-storage portfolio in Texarkana, TX, received multiple offers from investors before a New York City-based buyer swooped in to claim it. The Payless Storage Inc. portfolio consists of 587 units and totals 87,600 square feet on 15 acres. It offers potential for expansion and rental increases.
Marcus & Millichap’s Karr Self-Storage team brokered the deal. The team includes Brandon Karr and Danny Cunningham. The seller was a local investor, and the property was listed at $2.95 million.
After going under contract, the deal closed in fewer than 20 days. The properties featured climate-controlled units, gated entries, perimeter fencing, and 24-hour surveillance.
For questions, comments or concerns, please contact Jennifer Duell Popovec