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New York-Based Soveran Acquisitions Buys 90,000-SF Mini-Storage Facility

LEAGUE CITY, TX-Marcus & Millichap has negotiated the sale of a 925-unit storage facility to an out-of-state buyer. The Houston region is attracting more and more buyers from out of state, thanks to a robust economy.

By Jennifer Brenner Andrade | Updated on March 05, 2001

LEAGUE CITY, TX-Marcus & Millichap Real Estate Investment Brokerage Co. recently has sold a 90,000-sf self-storage facility in League City, a coastal suburb southeast of Houston, to Soveran Acquisitions Ltd. of New York. The 925-unit Southshore Storage is located at 2410 E. Main. Don Clements, Marcus & Millichap’s senior associate broker, represented the facility’s owners, the Grover Family Trust. The building, which features a manager’s apartment-office component, had been constructed in two equal-size phases, 1993 and 1997.

Marty McAdams, Marcus & Millichap’s regional manager, tells GlobeSt.com that he feels the mini-storage business in Houston is doing quite well and will attract even more buyers as properties come to market. There also seems to be across-the-board demand for nearly every product, he says.

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