Press Releases
Marcus & Millichap Facilitates Sale of Van Alstyne Self Storage Property
June 03, 2025
VAN ALSTYNE, Texas, June 3, 2025 – 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 Van Alstyne Self Storage, a 92,220 rentable-square-foot storage facility on an approximately 8.72-acre lot in Van Alstyne, Texas.
“Our relationship with the sellers began in late 2022, shortly after they broke ground on an expansion. Once the project was completed, rapidly shifting economic conditions led them to seriously consider selling the property. Given our team’s deep knowledge of the Grayson County market, they asked us for a broker opinion of value (BOV). We advised that, due to rising interest rates and evolving buyer sentiment, the property was unlikely to achieve their target price. Hoping for a better outcome, the sellers instead listed with another self-storage broker who promised a significantly higher price. The property sat on the market for six months without receiving any serious offers near the asking price,” said Danny Cunningham, senior vice president investments. “After their listing agreement expired, the sellers returned to us for an updated valuation. Since our initial conversations, the market had softened further, and the expansion remained largely unleased—further reducing the property's value. This time, however, the sellers accepted our pricing recommendation. Following a brief marketing period, we generated multiple full-price offers and successfully closed the transaction on time at the originally agreed-upon sale price.”
Brandon Karr and Danny Cunningham, investment specialists in Marcus & Millichap’s Fort Worth office and leaders of the Karr-Cunningham Storage Team, represented the seller, a local partnership. The buyer, a Dallas-based private investor, was also secured by Cunningham and Karr.
Van Alstyne Self Storage is located at 15074 N. U.S. Highway 75. The unit mix consists of 42 climate-controlled units, 208 non-climate drive-up units, 91 covered parking spaces, 69 uncovered parking spaces and an on-site residence. Amenities include a personalized keypad-gated entrance, wide driveways, garage-style roll-up doors and an on-site manager’s residence.
“Our relationship with the sellers began in late 2022, shortly after they broke ground on an expansion. Once the project was completed, rapidly shifting economic conditions led them to seriously consider selling the property. Given our team’s deep knowledge of the Grayson County market, they asked us for a broker opinion of value (BOV). We advised that, due to rising interest rates and evolving buyer sentiment, the property was unlikely to achieve their target price. Hoping for a better outcome, the sellers instead listed with another self-storage broker who promised a significantly higher price. The property sat on the market for six months without receiving any serious offers near the asking price,” said Danny Cunningham, senior vice president investments. “After their listing agreement expired, the sellers returned to us for an updated valuation. Since our initial conversations, the market had softened further, and the expansion remained largely unleased—further reducing the property's value. This time, however, the sellers accepted our pricing recommendation. Following a brief marketing period, we generated multiple full-price offers and successfully closed the transaction on time at the originally agreed-upon sale price.”
Brandon Karr and Danny Cunningham, investment specialists in Marcus & Millichap’s Fort Worth office and leaders of the Karr-Cunningham Storage Team, represented the seller, a local partnership. The buyer, a Dallas-based private investor, was also secured by Cunningham and Karr.
Van Alstyne Self Storage is located at 15074 N. U.S. Highway 75. The unit mix consists of 42 climate-controlled units, 208 non-climate drive-up units, 91 covered parking spaces, 69 uncovered parking spaces and an on-site residence. Amenities include a personalized keypad-gated entrance, wide driveways, garage-style roll-up doors and an on-site manager’s residence.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
