
Marcus & Millichap Finalizes Deal for Michigan Self-Storage
Marcus & Millichap closed the sale of U-Stor-It, a 41,600-square-foot self-storage facility located in Lansing, MI. Terms of the sale weren’t disclosed.
Meir D. Perlmuter, Nathan Coe, Brett R. Hatcher and Gabriel Coe, investment specialists in Marcus & Millichap’s Columbus office, marketed the property on behalf of the seller, a limited liability company. Steve Chaben, Michigan Broker of Record, assisted in closing this transaction.
“Even though this facility shared a wall with U-Haul, and they would be the most logical buyer, the seller choose to use our team to maximize value,” said Perlmuter. “We ultimately did sell the deal to U-Haul but at an impressive price and above previous offers.”
Built in 1988, the property is a stabilized, cash-flowing asset.
- ◦Sale/Acquisition