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Marcus & Millichap Arranges the Sale of a Two-Property Self Storage Portfolio in Long Island, New York

May 06, 2022

LONG ISLAND, N.Y., May 6, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Men on the Move Portfolio, a two-property self-storage portfolio located in Long Island, New York. The assets have a combined 2,304 units and 208,104 net rentable square feet.

Ian Lindahl, investment associate, and Adam Schlosser, senior vice president investments, in Marcus & Millichap’s Denver office had the exclusive listing to market the properties on behalf of the Seller, a local LLC. “This deal is another example of how strong the storage market has been over the past 12 months and was made possible by the incredible product that Men on the Move provided to the Farmingdale and Deer Park markets,” said Lindahl. “John Beyer and Men on the Move did a great job upgrading and managing the Farmingdale facility, and an incredible job converting the Deer Park facility from an old warehouse into a great resource for the community.” The Buyer, a limited liability company out of California, was also secured by Lindahl and Schlosser. John Horowitz, broker of record of New York, assisted in closing this transaction.

The Men on the Move Self Storage Portfolio has locations at 1110 Route 109 in Farmingdale and 960 Grand Boulevard in Deer Park. “These two assets are positioned for success, and the buyer is excited about the opportunity to expand on the good momentum while taking on significant market share in Suffolk County New York,” added Lindahl.

 

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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