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January 4, 2021 Comments (0) Views: 507 Houston-Galveston, Texas News

Massive Storage Facility Trades in Houston

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Marcus & Millichap closed the sale of Strack Road Storage, a 198,005-square-foot self-storage facility in Houston. Terms of the sale weren’t disclosed.

Dave Knobler, first VP Investments in Marcus & Millichap’s Houston office, marketed the property on behalf of the seller, a local partnership. He also secured the buyer, national self-storage owner Merit Hill Capital, based in New York City with 130 properties in 30 states, including several in the Houston area.

“The activity was incredible for this offering,” said Knobler. “Over 175 qualified investors watched the marketing video within 24 hours, and there were several showings the first week with numerous competitive offers received.  The property was formally put under contract 12 days after going on the market with an offer that would close by year-end.”

Strack Road Storage is located at 4717 Strack Rd. in Houston.

Photo courtesy of Marcus & Millichap.

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