Press Releases
Marcus & Millichap Arranges Sale of 489-Unit Self-Storage Property in Ohio
August 06, 2024
DELAWARE, Ohio, August 6, 2024 – 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 Premier Storage of Delaware, a 489-unit self-storage property located in Delaware, Ohio in the Columbus MSA.
“This property sold to a local buyer who outbid several competitive offers from buyers across the country,” said Gabriel Coe, senior managing director investments. “The sale occurred following the completion of a 37,625-square-foot expansion, which included the stabilization of the original buildings and a more than doubling of the property’s size. The new owners will benefit from acquiring an established, high-performing asset, with the potential to more than double current revenue once the expansion units are stabilized.”
Gabriel Coe, Nathan Coe and Brett Hatcher, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, and procured the buyer. Michael Glass, Broker of Record in Ohio, assisted in the transaction.
Located at 3295 US-42, Premier Storage of Delaware offers a mix of climate-controlled units, non-climate-controlled units and parking options across 68,053 square feet. Originally built in 1999 with the expansion completed in early 2024, the asset spans a 10.91-acre lot allowing room for additional growth.
“This property sold to a local buyer who outbid several competitive offers from buyers across the country,” said Gabriel Coe, senior managing director investments. “The sale occurred following the completion of a 37,625-square-foot expansion, which included the stabilization of the original buildings and a more than doubling of the property’s size. The new owners will benefit from acquiring an established, high-performing asset, with the potential to more than double current revenue once the expansion units are stabilized.”
Gabriel Coe, Nathan Coe and Brett Hatcher, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, and procured the buyer. Michael Glass, Broker of Record in Ohio, assisted in the transaction.
Located at 3295 US-42, Premier Storage of Delaware offers a mix of climate-controlled units, non-climate-controlled units and parking options across 68,053 square feet. Originally built in 1999 with the expansion completed in early 2024, the asset spans a 10.91-acre lot allowing room for additional growth.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
