Press Release

CBRE Announces Sale of Self-Storage Property in Greater Houston Area to Merit Hill Capital

07 12 2018

Gladstell Self Storage 608x432

CBRE announced the sale of a 66,575 square-foot self-storage property in the greater Houston area to Merit Hill Capital, LP, a real estate investment firm based in Brooklyn, New York.

CBRE’s Nick Walker and Trevor Roberts represented the seller PV Conroe Storage, LLC.

“The greater Houston metro area has seen continuous job growth, which in turn has fueled a tremendous economic expansion and population increase,” said Walker. “The number of homes sold in the greater Houston area last year was at an all-time high. This property is in a fantastic location to take advantage of and service this type of growth.”

The Gladstell Self Storage property, located at 810 Gladstell Road in Conroe, consists of 549 units and 50 RV/boat parking spaces. It is strategically located with more than 137,000 vehicles passing by the facility daily on Interstate 45 and an additional 6,200 on Gladstell Road.

Conroe's population, according to a demographic study conducted by the Montgomery area Chamber of Commerce, is expected to nearly triple its residents over the next 30 years to 485,300 by 2050, an average 5.8% growth every five years.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.