Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of A-Thrifti Self Storage & A-1 Self Storage, two self-storage facilities located in Fort Worth, Texas, according to Bill G. Jordan, regional manager of the firm’s Ft. Worth office.
Brandon Karr, an investment specialist in Marcus & Millichap’s Ft. Worth office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, also a private investor, was secured and represented by Brandon Karr as well.
A-Thrifti Self Storage & A-1 Self Storage are located at 2115 8th Ave. and 2620 West Pafford St., respectively. A-Thrifti Storage is a 19,082-square foot facility consisting of 222 units that was built in 1973, and A-1 Storage is a 29,830-square foot facility built in 1969 consisting of 260 units. A-Thrifti and A-1 lie on 0.78 acres and 1.71 acres, respectively, and both are located in under-supplied submarkets. Both also feature new roofs that were installed in 2011, video surveillance, alarm monitoring, garage-style roll-up doors, perimeter fencing/lighting and concrete foundations. Additionally, A-1 has asphalt driveways that were re-surfaced in 2011, and 0.34 acres of vacant land upon which additional storage could be built. The properties’ buyer brings multiple years of experience to the south Fort Worth storage marketplace and intends to modernize the facilities not only from a physical standpoint, but from an operational and managerial perspective as well. Additionally, the properties were on the market for exactly one day before Mr. Karr selected a buyer who closed the transaction at the price and terms agreed-upon in the purchase and sale agreement.
About Marcus & Millichap
With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally. For More information, please visit: www.MarcusMillichap.com