Press Releases
Marcus & Millichap Brokers Sale of 233-Unit Self-Storage Property in Wisconsin
December 04, 2024
JANESVILLE, Wis., Dec. 4, 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 Interstate Secure Storage, a 233-unit self-storage property located in Janesville, Wisconsin. The property sold for $2.3 million.
“Our client was looking to add scale to his storage portfolio throughout the state,” said Dan Bowar, senior associate. “We were able to move him out of his multifamily assets and into this facility while keeping his current debt structure in place, producing very positive cash flow on day one.”
Bowar, investment specialist in Marcus & Millichap’s Milwaukee office, procured the buyer, Hastings Property Group LLC.
Interstate Secure Storage is located at 3031 E. County Road O, directly off Interstate 39. Built in 2015, the property’s 233 units span 44,250 rentable square feet with current plans to expand with two additional buildings totaling 25,950 square feet.
“Our client was looking to add scale to his storage portfolio throughout the state,” said Dan Bowar, senior associate. “We were able to move him out of his multifamily assets and into this facility while keeping his current debt structure in place, producing very positive cash flow on day one.”
Bowar, investment specialist in Marcus & Millichap’s Milwaukee office, procured the buyer, Hastings Property Group LLC.
Interstate Secure Storage is located at 3031 E. County Road O, directly off Interstate 39. Built in 2015, the property’s 233 units span 44,250 rentable square feet with current plans to expand with two additional buildings totaling 25,950 square feet.
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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.
