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Marcus & Millichap closed the sale of a 12-property self-storage portfolio located in Green Bay, Wisconsin to a limited liability company

Wisconsin Self-Storage Portfolio Trades to LLC

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.” 

Meet industry experts at the upcoming Connect Midwest: Multifamily and Adaptive Reuse Trends, which takes place June 13, 2023 at the W Chicago City Center Hotel. Click here for more information and to register. 


Inside The Story

Marcus & Millichap's Delaney

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).

  • ◦Sale/Acquisition