Closed Hwy 380 Self Storage
MARCUS & MILLICHAP ARRANGES THE SALE OF A 51,520-SQUARE FOOT SELF-STORAGE FACILITY
CADDO MILLS, TX, 3/28/2022 – 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 Hwy 380 Self Storage, a 51,520-square foot self-storage facility located in Caddo Mills, 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, had the exclusive listing to market the property on behalf of the seller, a private investor who purchased the facility through the Karr Self-Storage Team in 2020. The buyer, a Texas-based storage investment group with five facilities in their portfolio, was secured by Cunningham and Karr as well.
According to Mr. Cunningham, “This was a great deal for both the buyer and seller. The seller purchased the property in early 2020 when it was severely under-performing. He was able to drastically increase the occupancy and constructed new covered boat and RV units as well. The buyers were attracted to the facility’s location in a growing part of the D-FW Metroplex, in addition to the expansion potential the property still offers.” Hwy 380 Self Storage is located at 1019 Agape Ct in Caddo Mills, Texas.
