MAGNOLIA, TX-An affiliate of Private Mini Storage in Houston has bought 10 acres in two deals for its next project. At this time, details are sketchy about the upcoming project.
Located at FM 2978, just south of Woodlands Parkway, the property, which was sold in 3.5 and 6.5 acre parcels, could also offer a retail component. "There will be at least a one-acre pad site up front, available for commercial usage," says Jeff Beard, principal with J. Beard Co. LLC of the Woodlands. "This would be ideal for a retail or service user who might need the exposure." Beard negotiated the deal on behalf of local sellers, Randall Duncan, who owned the 3.5 acres, and the Molegraff Family, who put up the balance. Charlie Underwood from McDade Smith, Gould, Johnston and Mason in Houston was the buyer's broker.
Beard tells GlobeSt.com that the combined ask was $880,000. "The buyers were able to negotiate a deal off the list price," he says.
Private Mini Storage, which provides storage structures throughout North Carolina and Texas for everything from bottles of wine, to office warehouses to boats and RVs, has eight locations in the northwest Houston area. And, Beard says, further expansion in the area is likely in the works. "My guess is that they are trying to expand," he adds. "This is a sizeable company and the principal has been active in the business for a number of years."
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