MINNEAPOLIS, MN | The LeClaire Group of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Lok Safe Storage two property portfolio, 61,820 square foot storage asset located in Manitowoc, Wisconsin.
Chris Kampmeyer, Investment Associate, in the firm’s Minneapolis office and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver office had the exclusive listing to market the property on behalf of the Seller, a private self storage investor and developer. “This portfolio asset didn’t feel any effects of the pandemic, which made the cross-product Buyer extremely comfortable with getting into self storage,” Kampmeyer said. “We continue to see demand for stabilized self storage properties from owners of all property types.” The Buyer was also procured by Kampmeyer and Schlosser. For complete deal information, please contact Chris Kampmeyer.
The Lok Safe Storage portfolio consists of 289 units and 61,820 net rentable square feet. The properties were constructed in 2005 and have since been renovated including new roofs, siding, and lighting. Unit sizes range from 60 square feet up to 600 square feet. Lok Safe CR is located on the southwest side of town near Highway 43. Lok Safe Downtown is located on the southeast side of town off Grand Avenue and 18th Street.