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Marcus & Millichap Arranges the Sale of AllSafe Storage In Cypress, Texas
September 30, 2022
HOUSTON, TX, September 30, 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 Allsafe Storage, a 59,625 square foot storage facility located in Cypress, Texas, an affluent northwest Houston suburb, according to Ford Noe, Regional Manager of the firm's Houston office.

Dave Knobler, Senior Managing Director Investments in Marcus & Millichap's Houston, Texas office and Charles "Chico" LeClaire, Executive Managing Director Investments in Marcus & Millichap's Denver, Colorado office, had the exclusive listing to market the property on behalf of the Seller, a Texas-based LLC. "Obviously Cypress is no secret and Allsafe was a well-maintained asset with great visibility, so we knew it was going to be well received," said Knobler. "The rapid growth in the immediate vicinity was another boost that helped generate multiple property tours and numerous credible offers and led to an exceptional result for the Seller." The Buyer, a national REIT, was also secured by Knobler and LeClaire.

Allsafe Storage is a 648-unit self-storage facility and sits on approximately 7.91 acres of land and has four single story buildings. There are 354 climate control units (40,750 NRSF), 107 drive up non-climate units (18,875 NRSF) and 187 open parking spaces. The facility has numerous amenities including but not limited to, video surveillance throughout the property, an automatic entrance gate with digital key code access, roll-up doors, concrete driveways on the self-storage units, a full-service manager's office with a two-bedroom/one-bathroom residence and a marquee sign with a digital reader screen.

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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 30 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2022 17:33:00 UTC.