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Chicago & Midwest  + Midwest  + Retail  | 

Illinois Self-Storage Portfolio Trades in Deal by Marcus & Millichap

Storage General, a 362,020-square foot self-storage portfolio located throughout central Illinois, has traded to Storage Express. Marcus & Millichap’s Brian Kelly and Brett Hatcher procured the buyer and marketed the portfolio on behalf of a local privately held company, identified by Storage Express as RP Lumber Company. Pricing was not disclosed.

The portfolio totals 12 facilities and 2,052 storage units. It came to market when the sellers, which own and operate more than 50 building materials stores across the state, decided to exit the self-storage business by divesting facilities they’d developed adjacent to their stores over the past decade.

“These facilities averaged 30,000 square feet and are located on retail corridors in smaller markets,” said Jefferson Shreve, president of Bloomington, IN-based Storage Express. “Those are bread and butter locations for us. And their build quality is consistent with the uniformity we seek in our portfolio.”

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Connect With Marcus & Millichap's KellyConnect With Storage Express' Shreve

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition