Marcus & Millichap : Brokers Self-Storage Portfolio Sale in West Tennessee
September 28, 2022 at 02:36 pm EDT
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Marcus & Millichap Brokers Self-Storage Portfolio Sale in West Tennessee
September 28, 2022
MEMPHIS, Tenn., Sept. 28, 2022 - 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 APC Storage Portfolio, a three-property, 1,736-unit, self-storage portfolio in West Tennessee.
"These assets have little competition from other storage facilities in the submarket and the competition that exists is full and has waiting lists," said Anne Williams, first vice president investments in Marcus & Millichap's Memphis office. "The acquisition of this portfolio gives the new operator instant scale in the community, the strongest presence in the metro area and the ability to continue to grow and mature the operations." Williams had the exclusive listing to market the property on behalf of the seller, a local family partnership, and procured the buyer, a private equity fund.
The portfolio consists of the following properties:
The 259,647-rentable-square-foot portfolio consists of 1,653 climate- and non-climate-controlled units, 86 open parking spaces and seven commercial office spaces. Each facility is equipped with brick and metal buildings, a spacious rental office, controlled-access entry and exit, individual PTI security system door alarms, perimeter fencing, security cameras and DVR surveillance systems.
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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.
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Marcus & Millichap Inc. published this content on 28 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2022 18:35:03 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.
MARCUS & MILLICHAP, INC. 
