Marcus & Millichap Brokers Sale of 839-Unit Self-Storage Portfolio in Palestine, Texas
PALESTINE, TEXAS — Marcus & Millichap has brokered the sale of Security Storage of Palestine, a two-property, 839-unit portfolio located about 120 miles southeast of Dallas. The main facility was built in phases between 1980 and 2014 and spans 97,370 net rentable square feet of space across 30 climate-controlled units and 631 non-climate-controlled units, as well as 12 outdoor parking spaces. The second facility comprises 156 non-climate-controlled units totaling 20,000 net rentable square feet. Dave Knobler of Marcus & Millichap represented the seller, an unnamed private investor, in the transaction and procured the buyer, a Dallas-based 1031 exchange investor.