Marcus & Millichap Arranges Sale Of Brookside Mini Storage
KINGSPORT, TN, July 14, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Brookside Mini Storage, a 483-unit self-storage facility located in Kingsport, TN, according to Jody McKibben, regional manager of the firm’s Memphis office.
“This was a great value-add opportunity that garnered multiple offers pretty quickly,” says Anne Williams-Blackwell, first vice president investments. “The buyer owns storage assets in multiple states along the eastern seaboard and has been very interested in expanding his portfolio into Tennessee for a while. He knew he had the systems in place to turn this property around, was able to make a strong offer and win the deal in a best and final round. The deal got closed in less than sixty days thanks to a cooperative seller, collaborative listing agent and a strong buyer.”
Matthews Real Estate investment Services represented the Seller, a local owner/operator, and Williams-Blackwell represented the buyer, a private investor from out of state.
Brookside Mini Storage is located at 1925 Brookside Dr in Kingsport, TN. The facility features 61,325 rentable square feet across 483 non-climate-controlled units.
# # #
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.