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 Centennial Storage, a 69,126-square foot self-storage located in Frisco, Texas, according to Hernando Perez, Sales Manager of the firm’s Fort Worth office. Brandon Karr, Associate Vice President Investments in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a publicly-traded REIT, was also secured by Mr. Karr. Centennial Storage is located at 12300 College Parkway in Frisco, Texas. The facility rests upon approximately 4.8 acres of land and consists of 541 units, of which 259 are climate controlled (46 percent). The property is comprised of eight single-story buildings that were built in 2004. The deal also included a separate, adjacent one acre parcel of vacant land upon which the buyer may construct additional units in order to accommodate the rising demand of the Frisco self-storage market. Current amenities include 24-hour video surveillance, personalized key pad entry/exit gates, wide concrete driveways, fire sprinklers, perimeter lighting, garage-style roll up doors, standing seam metal roofs, a fortress-style perimeter, and an on-site manager’s residence.
# # #About Marcus & Millichap (NYSE: MMI) With over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of approximately $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com UNITED STATES: Atlanta · Austin · Bakersfield · Birmingham · Boise · Boston · Brooklyn · Charleston · Charlotte · Charlotte Uptown · Chicago Downtown · Chicago Oak Brook · Chicago O’Hare · Cincinnati · Cleveland · Columbia · Columbus · Corpus Christi · Dallas · Denver · Detroit · Encino · Fort Lauderdale · Fort Worth · Fresno · Houston · Indianapolis · Iowa · Jacksonville · Kansas City · Lafayette · Las Vegas · Little Rock · Long Beach · Los Angeles · Louisville · Manhattan · Memphis · Miami · Milwaukee · Minneapolis · Mobile · Nashville · New Haven · New Jersey · New Mexico · Newport Beach · Oakland · Oklahoma City · Ontario · Orlando · Palo Alto · Philadelphia · Phoenix · Pittsburgh · Portland · Providence · Raleigh · Reno · Sacramento · Salt Lake City · San Antonio · San Diego · San Francisco · St. Louis · Seattle · Tampa · The Woodlands · Tucson · Tulsa · Ventura · Washington, D.C. · West Los Angeles · Westchester CANADA: Calgary · Toronto · Vancouver ]]>