Marcus & Millichap : Arranges the Sale of A 424-Unit Self-Storage Facility
September 26, 2022 at 06:51 pm EDT
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Marcus & Millichap Arranges the Sale of A 424-Unit Self-Storage Facility
September 26, 2022
EL PASO, TEXAS, September 26, 2022 - 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 Stuff Hotel, a 424-unit self-storage facility situated on 2.48 acres located in El Paso, Texas, according to Bruce E. Bentley III, regional manager of the firm's San Antonio office.
Jon Danklefs, an investment specialist in Marcus & Millichap's San Antonio office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was procured by Jon Danklefs.
"The results of our marketing efforts exceeded our expectations. Even though the property was marketed at an aggressive going-in cap rate, we were able to clearly explain to potential buyers the deal story and how to reposition the asset," said Danklefs. "We generated multiple offers during in short order, and our client was able to select a buyer who offered the best terms during a competitive bidding process."
Stuff Hotel is located at 11655 Pellicano Dr in El Paso, Texas.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
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Marcus & Millichap Inc. published this content on 26 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 September 2022 22:50:04 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.