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Marcus & Millichap Completes Self-Storage Portfolio Sale Across Major MSAs

July 15, 2022

COLUMBUS, Ohio, July 15, 2022 – 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 a Store Space managed self-storage portfolio, a three-property portfolio in Atlanta, Cincinnati and Orlando.

“These three, recently renovated class-A facilities combined have 2,062 units, totaling 213,960 net rentable square feet, all benefitting from extremely dense and growing surrounding populations,” said Nathan Coe, senior vice president investments, Marcus & Millichap. “Located within the MSAs of Atlanta, Cincinnati and Orlando, the assets feature high daily traffic counts ranging from 8,500-28,000 vehicles.” Coe, Gabriel Coe and Brett Hatcher represented the seller, Home Star Storage, and procured the buyer in the transaction.

“With a combined 81% occupancy across the three assets, there are currently expansion plans in process for the Cincinnati and Atlanta properties, providing a strong value-add opportunity for our new buyer,” added Hatcher.
John Leonard, Michael Glass and Ryan Nee are Marcus & Millichap’s brokers of record in Georgia, Ohio and Florida, 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.

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