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Marcus & Millichap Arranges the Sale of a 23,720-Square-Foot Self-Storage Facility in Chattanooga, Tennessee

September 13, 2022

CHATTANOOGA, Tennessee, September 13, 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 Chattanooga Hwy 58 Self Storage, a 23,720-square-foot self-storage facility located in Chattanooga, Tennessee, according to Grant Fitzgerald, regional manager of the firm’s Columbus office.

Gabriel Coe, Brett R. Hatcher and Nathan Coe, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Gabriel Coe, Brett R. Hatcher, and Nathan Coe. Jody McKibben, Tennessee Broker of Record, assisted in closing this transaction. Gabriel Coe said, “We sold this to a private out of state buyer. The sellers were able to maximize value and the buyers were able to expand on their Tennessee portfolio and also take advantage of the high occupancy and ability to raise rents at the property.”

Chattanooga Hwy 58 Self Storage is located in Chattanooga, Tennessee. The facility features 16 climate-controlled units, 147 non-climate-controlled units, and four office spaces totaling 23,720 net rentable square feet. They also offer 10 outdoor uncovered parking spaces available for rent. The facility has been able to maintain strong historical occupancy rates and is currently 94 percent physically occupied.

 

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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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