Marcus & Millichap Facilitates Sale Of 400-Unit Self Storage In Houston Suburb

Marcus & Millichap has facilitated the sale of Space City Self Storage, a 400-unit facility located at 13123 Hiram Clarke Road in a Houston suburb. The property, owned by a Houston-based limited liability company, consists of nine buildings with a total of 57,545 net rentable square feet. It offers a mix of climate-controlled and non-climate-controlled units, providing a range of storage options. The transaction was completed on May 31, 2023, with the buyer being an Arizona-based REIT and both parties choosing to remain anonymous.

Summary of Transaction Details

• Property Type: Self Storage
• Transaction Amount: Not disclosed
• Units: 400
• Date: May 31, 2023
• Address: 13123 Hiram Clarke Road
• Market: Houston

The deal was brokered by Dave Knobler and Charles LeClaire from Marcus & Millichap, representing the buyer and seller, respectively. Their expertise in the Houston market played a crucial role in facilitating the successful transaction. The buyer, an Arizona-based REIT, recognized the potential of Space City Self Storage and seized the opportunity to expand their portfolio in the Houston area. This sale further demonstrates the strong demand for commercial real estate assets, particularly in the self-storage sector.