Marcus & Millichap Inc.

08/10/2022 | Press release | Distributed by Public on 08/11/2022 09:39

Marcus & Millichap Arranges the Sale of a 51,170-Square-Foot Self-Storage Facility in Portland, Tennessee

Press Releases

Marcus & Millichap Arranges the Sale of a 51,170-Square-Foot Self-Storage Facility in Portland, Tennessee

August 10, 2022
PORTLAND, Tennessee, August 10, 2022 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of All About Storage, a 51,170-square-foot self-storage facility located in Portland, Tennessee, according to Grant Fitzgerald, regional manager of the firm's Columbus office.

Brett R. Hatcher, Gabriel Coe and Nathan Coe, investment specialists in Marcus & Millichap's Columbus office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. Jody McKibben, Tennessee Broker of Record, assisted in closing this transaction. Gabriel Coe, the lead agent, said, "We sold this to a private out of state buyer who beat out several competitive offers. The sellers were able to maximize value and the buyers were able to expand on their Tennessee portfolio and also take advantage of the high occupancy and ability to raise rents at the property."

All About Storage is located in Portland, Tennessee. The facility features 55 climate-controlled units, 209 non-climate-controlled units, an office, and an apartment unit totaling 51,170 net rentable square feet. They also offer five RV parking spaces available for rent. This is a stabilized and cash-flowing facility that is currently 95 percent physically occupied.

# # #

About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.