Marcus & Millichap : Announces the Sale of Storage Masters, a Two Property Self-Storage Portfolio in Kentucky
November 15, 2023 at 04:35 pm IST
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Marcus & Millichap Announces the Sale of Storage Masters, a Two Property Self-Storage Portfolio in Kentucky
November 14, 2023
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CRESTWOOD, Kentucky, November 14, 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 Storage Masters, a two property self-storage portfolio located in Crestwood, Kentucky.
Gabriel Coe, Brett R. Hatcher, 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. Grant Fitzgerald, Kentucky Broker of Record, assisted in closing this transaction.
"These properties were sold to an out-of-state buyer with a large self-storage fund," said Gabriel Coe, the lead agent involved. "The buyer will be able to benefit from amazing locations, a long history of high occupancy, and the opportunity to increase the rents that are 20-30 percent below market."
Both Storage Masters facilities are located within a mile of each other, about 16 miles northeast of Louisville in Crestwood, Kentucky. The facilities feature a combined 527 non-climate-controlled self-storage units, 28 climate-controlled self-storage units, and two outdoor parking spaces that make up a combined 86,370 net rentable square feet. Both locations benefit from good street frontage and traffic counts above 11,000 cars per day, as well as dense and affluent population bases.
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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, 2022, the company had 1,904 investment sales and financing professionals in 81 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 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on 14 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 November 2023 11:04:05 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. 
