Press Releases
Marcus & Millichap Facilitates Sale of Hillside Storage in Willis, Texas, With Second Phase Underway
October 29, 2026
WILLIS, Texas, Oct. X, 2026 — 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 Hillside Storage, a 245-unit self-storage facility with a second-phase expansion underway, following competitive bidding between a California 1031 exchange buyer and a real estate investment trust (REIT).
“Bidding wars are a beautiful thing,” said Dave Knobler, senior managing director investments. “We had two highly qualified buyers at the ‘best and final’ table, and that competition helped us get the best price and terms possible for our seller. I think the aggressiveness was well warranted. After all, Phase I reached more than 87% physical occupancy within 18 months of opening, and with household incomes above $110,000 and Willis projected to grow to 30,000 residents over the next eight years, the buyer is stepping into a growth market with a proven lease-up and a clear runway for Phase II.”
Knobler, Mixson Staffel and Charles “Chico” LeClaire, investment specialists with the LeClaire-Schlosser Group of Marcus & Millichap in the Denver and Houston offices, represented the seller in the transaction.
Located at 13505 State Highway 75, the property opened in February 2024 on 4.73 acres. Phase I comprises 245 units totaling 42,500 rentable square feet. Phase II, a 29,825-square-foot expansion scheduled for completion by the end of 2026, is expected to bring the facility to 468 units and 72,325 rentable square feet.
“Bidding wars are a beautiful thing,” said Dave Knobler, senior managing director investments. “We had two highly qualified buyers at the ‘best and final’ table, and that competition helped us get the best price and terms possible for our seller. I think the aggressiveness was well warranted. After all, Phase I reached more than 87% physical occupancy within 18 months of opening, and with household incomes above $110,000 and Willis projected to grow to 30,000 residents over the next eight years, the buyer is stepping into a growth market with a proven lease-up and a clear runway for Phase II.”
Knobler, Mixson Staffel and Charles “Chico” LeClaire, investment specialists with the LeClaire-Schlosser Group of Marcus & Millichap in the Denver and Houston offices, represented the seller in the transaction.
Located at 13505 State Highway 75, the property opened in February 2024 on 4.73 acres. Phase I comprises 245 units totaling 42,500 rentable square feet. Phase II, a 29,825-square-foot expansion scheduled for completion by the end of 2026, is expected to bring the facility to 468 units and 72,325 rentable square feet.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
