NEW BRAUNFELS, TX, December 26, 2018 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of AStoreroom Mini-Storage, a 67,900-square foot self-storage facility located in New Braunfels, TX, according to Craig R. Swanson, regional manager of the firm's San Antonio office.
Jon Danklefs and Michael A. Mele, investment specialists in Marcus & Millichap's San Antonio and Tampa offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, also a limited liability company, was secured and represented by Danklefs and Mele.
"We worked hard to maximize the property's exposure to the market, and generated five qualified offers for a 100 percent, non-climate controlled property," says Danklefs. "Collaboration with other Marcus & Millichap agents enabled me to maximize the value our client realized from the sale of his property."
AStoreroom Mini-Storage is located at 2975 Fm 725 in New Braunfels, TX, a prime component of the San Antonio-New Braunfels, TX MSA. The facility was recently expanded in 2017, yielding an additional 219 units for 582 total units. The facility is strategically within a high-growth corridor in closest proximity to several residential zones and national retailers. According to the New Braunfels Economic Development Council, the City approved single-family building permits with a total valuation of approximately $665 million. The City also issued 392 new business electric meters, per New Braunfels Utilities. There were 3,159 building permits issued by the City from 2016 to 2017, which is indicative of the growth within the region.