Marcus & Millichap, a leading commercial real estate firm, recently closed the sale of The Storage Center. This three-property self-storage portfolio includes 3,380 units and is located in Austin and San Antonio, Texas as well as Glendale, Arizona.
According to Jon Danklefs, first vice president of investments at Marcus & Millichap’s San Antonio office: “The high quality of these assets attracted a diverse group of active self-storage investors.” Danklefs represented the seller Brookwood Properties (the original developers) and successfully connected them with UTEX Storage Partners – the buyer for this transaction.
Built between 2020-2023, this portfolio spans over 322K square feet and features both climate-controlled (3.296 units) and non-climate-controlled (84 units). Ryan Sarbinoff serves as Marcus & Millichap’s broker in Arizona.
Overall,this successful sale was made possible by our strategic marketing approach which led to competitive bidding resulting in a final transaction that met our initial guidance at an impressive rate of 98%. Connect CRE has more details on this exciting deal.
