Iron Vault Storage in Lake Charles, La., was sold for $1.9 million. The property 2859 Ernest St. feature 323 storage units. The seller, a partnership, was represented in the transaction by Dave Knobler, senior associate, and Logan Miller, associate, in the Marcus & Millichap Houston office. They were assisted by William Hoffpauir, a senior associate in the company’s Louisiana office.
“While Lake Charles is best known regionally as a tourism and gaming destination, there was a great deal of interest in the asset due to the petroleum refining and petrochemical activity in the area,” Miller said.