Marcus & Millichap : Brokers 10-Property Self-Storage Portfolio Sale
January 25, 2023 at 06:33 pm EST
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Marcus & Millichap Brokers 10-Property Self-Storage Portfolio Sale
January 25, 2023
COLUMBUS, Ohio, Jan. 25, 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 a 10-property, 3,369-unit portfolio of Boardwalk Storage facilities in Alabama, Georgia, and Tennessee.
"As one of the strongest inflation hedge options in commercial real estate, self-storage properties are seeing increased demand from investors across the country," said Gabriel Coe, senior managing director investments in Marcus & Millichap's Columbus office. "The purchase of the Boardwalk Storage Facilities portfolio gives our buyer opportunities for revenue growth through the leasing of vacant space and seven of the 10 locations have room for expansion." Gabriel Coe, Nathan Coe, and Brett Hatcher represented the seller, and procured the buyer.
At the time of the sale, the 569,530-net-rentable-square-foot portfolio had a combined occupancy of 64%. The assets have a mix of non-climate-controlled and climate-controlled units and covered and uncovered parking. The facility in Alabama is in Opelika. The assets in Georgia are in Dahlonega, Clermont, Loganville, Perry, and Jasper. In Tennessee, the facilities are in Ooltewah, Chattanooga and Soddy-Daisy. Marcus & Millichap's brokers of record in Alabama, Georgia, Tennessee are Eddie Greenhalgh, John Leonard, and Jody McKibben, respectively.
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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.
Marcus & Millichap Inc. published this content on 25 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2023 23:32:01 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.