Lamar Self Storage in Paris, Texas, was sold to a Texas-based investor. The transaction was part of a 1031 exchange, according to a press release from Marcus & Millichap, which brokered the deal. The property at 2405 Northeast Loop 286 comprises 45,900 rentable square feet of space in 378 climate-controlled and drive-up units. Built in 1986, it sits on nearly 3 acres. The buyer and the seller, a private investor, were represented by Cunningham and Karr.
About Marcus & Millichap
Founded in 1971, Marcus & Millichap is a commercial-property investment firm with more than 1,500 investment professionals in offices throughout Canada and the United States. The firm closed more than 8,700 transactions in 2015 with a value of approximately $37.8 billion.