AZLE, Texas, Oct. 30, 2024 – 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 North Texas Star Storage in Azle, Texas.  

“This was a very unique deal,” says Danny Cunningham, senior vice president investments. “Our client, a private developer based out of California, was building a 191-unit facility, but stopped construction about two-thirds of the way in after having a significant disagreement with his general contractor. Almost immediately after putting the project on hold, the owner asked us for some strategic advice. We presented him with a few different options, but he ultimately decided to sell the real estate after learning (to his surprise) we could deliver a price point that made sense. Because the DFW Metroplex is essentially our backyard, we knew exactly which buyers to contact and were able to procure a competitive offer within a week.  We selected an experienced operator with whom we have closed several deals in the past and closed the property at the originally agreed-upon value.” 

Brandon Karr and Danny Cunningham, investment specialist in Marcus & Millichap’s Fort Worth office and co-leaders of the Karr-Cunningham Storage Team, exclusively represented the seller, a southern California-based investor, and procured the buyer, KO Storage.   

Built in 2024, North Star Texas Storage is located at 7604 Veal Station Road, spanning 49,950 square feet across 4.27 acres and including 191 units. 

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