Press Releases
Marcus & Millichap Arranges Sale of Self-Storage, Micro Flex Development Site in Hoover, Alabama
February 06, 2025
HOOVER, Ala., Feb. 6, 2025 – 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 3400 Old Columbiana Road, a 2.6-acre development property located Hoover, Alabama. The property sold for $800,000.
“We generated multiple offers through our extensive marketing process for this unique opportunity in a high-demand area of Hoover,” said Lee Thornton, associate.
Eddie Greenhalgh, senior vice president investments, added, “The buyers plan to develop a Class A micro flex property, which will be a strong complement to the neighboring Class A multi-story storage facility.”
Thornton and Greenhalgh, investment specialists in Marcus & Millichap’s Birmingham office, had the exclusive listing to market the property on behalf of the seller, Eagle West, LLC. Jack Peterson, senior director with Colliers, represented the buyer.
The property, located along Highway 31 just off Interstate 459, attracted significant interest due to its strategic location, flexible zoning and robust market dynamics. The sale demonstrates the strong demand for well-positioned development sites in the Hoover area.
“We generated multiple offers through our extensive marketing process for this unique opportunity in a high-demand area of Hoover,” said Lee Thornton, associate.
Eddie Greenhalgh, senior vice president investments, added, “The buyers plan to develop a Class A micro flex property, which will be a strong complement to the neighboring Class A multi-story storage facility.”
Thornton and Greenhalgh, investment specialists in Marcus & Millichap’s Birmingham office, had the exclusive listing to market the property on behalf of the seller, Eagle West, LLC. Jack Peterson, senior director with Colliers, represented the buyer.
The property, located along Highway 31 just off Interstate 459, attracted significant interest due to its strategic location, flexible zoning and robust market dynamics. The sale demonstrates the strong demand for well-positioned development sites in the Hoover area.
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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.
