Marcus & Millichap: Arranges the sale of a 24,480-square-foot self-storage facility

KENOSHA, Wisconsin, October 20, 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 Safe Storage Club, a 24,480-square-foot self-storage facility located in Kenosha, Wisconsin, according to Grant Fitzgerald, regional manager of the firm’s Columbus office.

Brett R. Hatcher, Gabriel Coe and Nathan Coe, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, an individual/personal trust, was secured and represented by Brett R. Hatcher, Gabriel Coe and Nathan Coe. “This was a tremendous process on both the sellers and the buyers end. Even with a changing market, the competition and pricing for this asset showed the resiliency and strength of the self-storage market, even for smaller properties in smaller markets,” said Nathan Coe, the lead agent involved. “We had multiple offers at and above list price and closed well above list price. The buyers are adding a great asset to their growing portfolio.” Todd Lindblom, Wisconsin Broker of Record, assisted in closing this transaction.

Safe Storage Club is located in Kenosha, Wisconsin. The facility currently features 348 parking spaces totaling 24,480 net rentable square feet. There is an opportunity to convert the existing 26,670 net rentable square foot warehouse into luxury car storage adding 257 more parking spaces.