WAXAHACHIE, Texas, Dec. 18, 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 Elite Self Storage, a 184-unit self-storage facility in Waxahachie, Texas.

” When we first began speaking with the seller, he had just terminated a listing agreement with another storage broker who overpromised and underdelivered.  In light of this, we emphasized our historical track-record generating multiple offers from a wide variety of investors, and that it was in his best interest to formally list the property with the Karr-Cunningham Storage Team. The seller took our advice and, leveraging our investor database and national platform, we generated multiple offers from a diverse set of owner/operators.  This proved to be critically important because, on three different occasions, our buyers abandoned their Elite Self Storage acquisition plans even though a non-binding letter of intent had already been executed by both parties. Although stories like this are a dime a dozen in today’s market, our client couldn’t help but feel a bit demoralized. With that said, our unwavering internal commitment to deliver on our promises proved to make all the difference, and we ultimately closed the deal with buyer #4 at the price and terms our client anticipated,”

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, the original developer, and procured the buyer, Cedar Creek Capital.

Elite Self Storage is located at 3948 US-287. The recently built facility comprises 148 climate-controlled units and 36 non-climate drive up units. The property includes personalized key-pad gated entry, wide concrete driveways, perimeter lighting, 24-hour video surveillance cameras, and garage-style roll up doors.

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