SAN ANTONIO, Texas, Dec. 4, 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 Regal Self Storage Development, a 255,697 square feet of land approved for self storage located at 12615 Judson Road in San Antonio, Texas, according to Craig R. Swanson, vice president/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.
"We received multiple offers for the site, and I credit the strength of the San Antonio market and the exposure from Marcus & Millichap's national platform helping us find the right buyer for this site," says Danklefs.
Regal Self Storage Development is strategically positioned in one of the nation's fastest-growing cities and metro areas. Furthermore, the site resides next to San Antonio's Interstate 35/Pan Am Expressway, boasting over 212,000 vehicles per day, and is adjacent to a Sam's Club. The approved Class A self-storage site is zoned for C-3, a district intended to provide for more intensive commercial uses and is optimal for self storage with high traffic and density, as further demonstrated by the multifamily developments underway.
Mele states, "The market for self-storage sites continues to be strong overall and this site is no exception with its own unique benefits making it a strategic location to build the asset."