MINNEAPOLIS, MN | The LeClaire-Schlosser 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 Storage Max Portfolio, a seven property storage portfolio located across Minnesota and North Dakota. The asset has 382 units and 48,710 net rentable square feet.
Chris Kampmeyer, Investment Associate, in the firm’s Minneapolis, Minnesota office and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver, Colorado office, had the exclusive listing to market the property on behalf of the Seller, a local LLC. “Even with these properties being in smaller markets, they continued to perform very well with all the uncertainty in the marketplace. This sale shows the strength of self storage assets in secondary and tertiary markets as well as the continued investor appetite for this product type.”
“Even with these properties being in smaller markets, they continued to perform very well with all the uncertainty in the marketplace. This sale shows the strength of self storage assets in secondary and tertiary markets as well as the continued investor appetite for this product type.”
The portfolio consists of seven different sites with 382 non-climate controlled units. With over 49,710 total square feet and over 9 total acres, this portfolio allows expansion opportunity at every site. The majority of the units are newer built with high quality construction.
