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Marcus & Millichap Closes Self-Storage Deal in Northwest IN

Marcus & Millichap finalized the sale of Econo Self Storage Portfolio, a 114,280-square-foot self-storage property in Cedar Lake, IN. Terms of the sale weren’t disclosed.

SVP Sean M. Delaney and senior associate Jeffrey L. Herrmann, both based in Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a partnership. 

The buyer, a limited liability company, was secured and represented by Herrmann and Delaney. Josh Caruana assisted in closing the transaction as broker of record in Indiana.

Econo Self Storage Portfolio is located at 10630 W. 133rd Ave. in Cedar Lake, within Lake County in northwest Indiana. The property, which benefits from exposure on two highways, is 95% occupied and has large expansion opportunities on several vacant acres. 

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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 GlobeSt.com 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