Marcus & Millichap : Brokers Two-Property Self-Storage Portfolio Sale in Atlanta MSA
February 18, 2023 at 12:06 am IST
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Marcus & Millichap Brokers Two-Property Self-Storage Portfolio Sale in Atlanta MSA
February 16, 2023
ATLANTA, Feb. 16, 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 two-property, 808-unit self-storage portfolio totaling 104,646 net rentable square feet in Oakwood and Gainesville, Georgia.
"The facilities are stabilized, cash-flowing assets with physical occupancies in the 94% to 96% range," said Nathan Coe, senior vice president investments in Marcus & Millichap's Columbus office. "The populations within a five-mile radius of both assets have increased by an average of 53% since the year 2000. The Gainesville facility gives the buyer opportunity to expand into an adjacent three-acre lot approved for 20,200 square feet of storage space and 56 parking places." Nathan Coe, Gabriel Coe, and Brett Hatcher represented the seller, and procured the buyer.
The properties are located six miles from each other on Lake Lanier, approximately 50 miles from Downtown Atlanta. They are Lotta Space Storage, a 443-unit, 53,337-square-foot facility in Oakwood, and North Lanier Storage, a 365-unit, 51,309-square-foot facility in Gainesville. North Lanier Storage is on Georgia State Route 53 and Lotta Space Storage is adjacent to the highway. Daily traffic counts for the facilities range from 14,800 to 22,100 cars per day. The locations have a mix of climate-controlled and non-climate-controlled units and have keypad-gated entry, on-site management offices, and 24-hour video surveillance. John Leonard, first vice president and regional manager is Marcus & Millichap's broker of record in Georgia.
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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 16 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 February 2023 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. 
