LORENA, TX, May 6, 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 Lorena Mini Storage, a 22,794 rentable-square foot self-storage facility located in Lorena, 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, exclusively represented the Dallas-Fort Worth based private investor. The buyer, a Waco, TX based commercial real estate investment group, was secured by Mr. Cunningham and Mr. Karr as well.

According to Mr. Cunningham, “Lorena Mini Storage was originally listed as part of a four-property portfolio.  Most of those facilities were located in Northeast Texas, but Lorena was a geographical outlier.  Almost immediately after we took the portfolio to market, it became clear that prospective buyers were either interested in Lorena by itself, or the other three properties by themselves. Our client determined that it was still in his best interest to sell Lorena individually because he just couldn’t dedicate enough time to managing the facility at a day-to-day level. Leveraging our robust network of highly qualified investors, we procured a buyer who based his offer price on not just the facility’s current income stream, but also its future potential.  Once under contract, we enjoyed a smooth escrow process and closed the transaction at the originally agreed upon sales price”.

Lorena Mini Storage is located at 1530 N Houston St in Lorena, TX.

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