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 North Loop Mini Warehouses, a 53,812-square-foot self-storage facility in Athens, Texas.
Danny Cunningham and Brandon Karr, investment specialists in Marcus & Millichap’s Fort Worth office, exclusively marketed the property on behalf of the seller, a family who inherited ownership from their late-uncle and decided to sell the asset rather than divide ownership and operate the facility, and procured the buyer, California-based private investor expanding an existing self-storage portfolio in East Texas.
The property is located at 2202 N.E. Loop 7. Built in 1994, the facility consists of 277 storage units across 7.67 acres. The property had been operated for many years as a traditional family-owned self-storage facility before ownership transitioned to relatives who inherited the asset and assumed day-to-day operations. The facility presents opportunities for operational enhancements while serving the growing storage needs of the Athens market.
