Marcus & Millichap closed the sale of Lok-Safe Storage, a 487,081-square foot, 12-property self-storage portfolio located in Green Bay, WI. Terms of the sale weren’t disclosed.   

The buyer, a limited liability company, was secured and represented by Sean M. Delaney, senior managing director in Marcus & Millichap’s Chicago Oak Brook office. Todd Lindblom, broker of record, assisted in closing the sale.  

“The Lok-Safe Portfolio was a perfect opportunity to expand the Arkansas-based buyer’s footprint in Wisconsin as they previously purchased a five-property storage portfolio in Sheboygan, WI in September 2022, also with my assistance.” said Delaney. “The previous owner did a tremendous job aggregating the properties which were operating at close to 98% occupancy with minimal management. 

“The new owner will now have the opportunity to capitalize on the dominant market share with professional management and the implementation of a more sophisticated marketing and revenue management system.” 

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