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Marcus & Millichap Finalizes Sale of St. Louis Storage Portfolio
Marcus & Millichap arranged the sale of EZ Storage, a five-property, Class-A, self-storage portfolio across the St. Louis metro area. Terms of the sale weren’t disclosed.
“These five facilities, which total 3,385 combined units and 424,839 net rentable square feet, are all located in densely populated areas within the St. Louis MSA,” said Brett Hatcher, senior managing director, investments. “Additionally, these assets benefit from strong visibility with high daily traffic counts ranging from 16,400-41,000 cars per day, as well as neighboring demographics that feature nearby average household incomes well above the national average.”
Hatcher, Nathan Coe and Gabriel Coe represented the seller and procured the buyer.
“EZ Storage garnered significant attention within the self-storage industry given St. Louis’s undersaturated self-storage market,” added Hatcher. “These assets have consistent growth with increasing occupancy levels, providing opportunities for expansion and added revenue.”
David Saverin is Marcus & Millichap’s broker of record in Missouri.
- ◦Sale/Acquisition
