Best Self Storage has acquired Stuff Hotel, a 48,753-square-foot facility in El Paso, Texas, from Price Cos. According to El Paso County records, the property is subject to a $3.3 million loan, originated by American Business Bank.
Jon Danklefs of Marcus & Millichap’s San Antonio office represented the seller and procured the buyer of the 424-unit property.
Stuff Hotel was built in two phases, between 1995 and 2005. The six-building facility sits on 2.9 acres and encompasses units ranging from 25 square feet to warehouse spaces. On-site amenities include video surveillance, gated access, boxes and supplies, drive up access, parking and on-site management.
Located at 11655 Pellicano Drive, the property is within 13.5 miles from downtown El Paso, providing access to Interstate 10, while El Paso International Airport is just 8.8 miles away. The facility is one of the 20 available within a 3-mile radius, offering residents 7.4 rentable square feet per capita. According to Yardi Matrix data, El Paso has nine properties in various stages of development, set to add approximately 400,000 rentable square feet to the existing self storage inventory in the next few years.
Marcus & Millichap has recently brokered several self storage transactions in Texas, primarily in the Houston and DFW markets. One of the latest acquisitions closed earlier this month, when Business Property Trust sold a 69,839-square-foot facility in Houston.