Marcus & Millichap Brokers 39-Property Self-Storage Portfolio Sale Across Five States
“A deal of this magnitude with so many moving pieces was only feasible due to the collaborative and cohesive approach we were able to execute,” said Brett Hatcher, senior managing director investments with Marcus & Millichap’s Hatcher Coe Group. “By collaborating with multifamily agents in our Cleveland office, we were able to successfully complete this 39-property, self-storage portfolio, totaling 11,497 units.” Hatcher, Gabriel Coe, Nathan Coe, Josh Wintermute, Daniel Burkons and Michael Barron represented the seller and procured the buyers. The portfolio breakdown across the five states is: 16 properties in Ohio;13 properties in Michigan; five properties in Pennsylvania; three properties in New York; and two properties in New Jersey.
“By completing this purchase, our buyer is able to establish themselves as leaders within the self-storage industry for years to come,” added Hatcher. “With fully automated kiosks available at 38 of the 39 properties, consumers can seamlessly go about their business in an efficient and secure manner, further enhancing the customer’s experience.” Marcus & Millichap’s brokers of record in Michigan, New Jersey, New York, Ohio and Pennsylvania are Steve Chaben, Brian Hosey, Susan Bands, Michael Glass and Sean Beuche, respectively.
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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.