Closed Tyler, TX Storage Portfolio
MARCUS & MILLICHAP ARRANGES THE SALE OF A THREE PROPERTY 87,638-SQUARE FOOT SELF-STORAGE PORTFOLIO
TYLER, TX, June 22, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Tyler, TX Storage Portfolio, a 87,638-square foot self-storage portfolio located in Tyler, Texas, according to Mark R. McCoy, regional manager of the firm’s Fort Worth office.
Danny Cunningham and Brandon Karr, investment specialists in Marcus & Millichap’s Fort Worth office, and leaders of the Karr-Cunningham Storage Team, had the exclusive listing to market the properties on behalf of the seller, a private investor, and East Texas native. The buyer, a private investment group with a national storage portfolio, was also secured by Mr. Cunningham and Mr. Karr.
According to Mr. Cunningham, “During the past two years, our team has closed more than twenty individual self-storage transactions throughout East Texas. As a result, we’ve been able to gain crucial insight into the forces shaping and influencing the East Texas storage market – which, in turn, has allowed us to cultivate meaningful relationships with most of the owners in the area. In fact, one of our previous clients recommended the Karr-Cunningham Storage Team
to the current owners, and after discussing market conditions, sales comp data, and a variety of strategic options, the sellers determined this was the right time to pursue their retirement goals. We then helped our clients capitalize on today’s favorable market conditions by procuring several list-price offers, and successfully navigating an escrow timeline that took place during a rapidly changing interest rate environment.”
The Tyler, TX Storage Portfolio is located at 10293 County Road 2254, 2215 West Southwest Loop 323, and 19230 Highway 155 South in Tyler, Texas.
