Closed | Elite Storage of Sherman
MARCUS & MILLICHAP ARRANGES THE SALE OF A 22,925 RENTABLE-SQUARE FOOT SELF-STORAGE FACILITY
SHERMAN, TX, March 2, 2023 – 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 Elite Storage of Sherman, a 22,925 rentable-square foot self-storage facility located in Sherman, TX, 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 opportunity to represent the seller, an Oklahoma based private investor, in the off-market transaction. The buyers, Dallas-based private investors, were secured by Mr. Cunningham and Mr. Karr as well.
According to Mr. Cunningham, “Our relationship with the sellers began several years ago. As we became familiar with their long-term goals and objectives, we determined that selling the facility wasn’t really a viable option for them at the time. Nevertheless, we kept them updated on market trends and transactional data, so when it looked like selling the facility might be the appropriate path forward, they knew our recommendation was based on objectivity and a desire to do what was best for them. We then used our intimate knowledge of the Sherman/Denison submarket to procure the right buyer immediately, and we closed the deal ahead of schedule.”
Elite Storage of Sherman is located at 5922 Texoma Parkway in Sherman, TX.
