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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.


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Marcus & Millichap Columbus

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).

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