Marcus & Millichap Brokers $5 Million Sale of North Carolina Storage Portfolio

MOREHEAD CITY, N.C., November 21, 2023 – 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 the Acme Self-Storage Portfolio located in Morehead City, North Carolina. The portfolio includes the following properties:

• 1217 N 20th Street, Morehead City, North Carolina
• 204 Jacob Drive, Morehead City, North Carolina
• 5458 US-70, Morehead City, North Carolina

Andreas Makris, Kevin Bledsoe and Matthew Junkin, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, in addition to procuring the buyer, Freedom Storage Group.  Ben Yelm assisted in the transaction as North Carolina broker of record.

"We were able to find a buyer and have the property under contract within 30 days of listing,” says Makris. “Both the seller and buyer worked to make this a smooth transaction with great communication from both parties."

The three facilities consist of 125 non-climate-controlled units and 193 climate-controlled units, totaling 46,375 net rentable square feet. The property is currently operating at 98% physical occupancy with current rents well below market. 

All locations feature proximity to main highways and interstates, in addition to community demand drivers. This provides the facilities with high daily traffic counts ranging from 9,200-33,000 cars per day.

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About Marcus & Millichap, Inc. (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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.