Marcus & Millichap Inc.
03/27/2023 | Press release | Distributed by Public on 03/27/2023 10:15
Marcus & Millichap Announces the Sale of Powells Point Self Storage in Powells Point, North Carolina
Press Releases
Marcus & Millichap Announces the Sale of Powells Point Self Storage in Powells Point, North Carolina
March 27, 2023
POWELLS POINT, North Carolina, March 27, 2023 - Marcus & Millichap Real Estate Investment Services of North Carolina, Inc. (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Powells Point Self Storage, a 22,100-square-foot self-storage facility located in Powells Point, North Carolina.
Gabriel Coe, Brett R. Hatcher and Nathan Coe, investment specialists in Marcus & Millichap's Columbus office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Ben Yelm, North Carolina Broker of Record, assisted in closing this transaction.
"We sold this deal after a competitive process and multiple competing offers," said Gabriel Coe, the lead agent involved. "The buyer owns another property locally and will be able to benefit by operational synergies between the two properties and also the ability to increase rents."
Powells Point Self Storage is located on the east coast of North Carolina about 30 miles south of the Virginia border in Powells Point, North Carolina. This stabilized, cash-flowing facility was built in 2004 and currently features 148 drive-up self-storage units and 42 outdoor parking spaces that make up 22,100 net rentable square feet.
Gabriel Coe, Brett R. Hatcher and Nathan Coe, investment specialists in Marcus & Millichap's Columbus office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Ben Yelm, North Carolina Broker of Record, assisted in closing this transaction.
"We sold this deal after a competitive process and multiple competing offers," said Gabriel Coe, the lead agent involved. "The buyer owns another property locally and will be able to benefit by operational synergies between the two properties and also the ability to increase rents."
Powells Point Self Storage is located on the east coast of North Carolina about 30 miles south of the Virginia border in Powells Point, North Carolina. This stabilized, cash-flowing facility was built in 2004 and currently features 148 drive-up self-storage units and 42 outdoor parking spaces that make up 22,100 net rentable square feet.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.