MILWAUKEE, Wisconsin | 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 Stadium Self Storage, a 110,652 square foot storage facility located in Milwaukee, Wisconsin.
Adam Schlosser, Senior Managing Director Investments, and Charles “Chico” LeClaire, Executive Managing Director Investments, in Marcus & Millichap’s Denver, Colorado office, had the exclusive listing to market the property on behalf of the seller, a local private investor. “We had strong interest for this facility right out the gate,” says Schlosser. “Investor appetite in the self-storage asset class remains elevated bolstered by robust liquidity aimed at the top 100 MSAs.” The buyer was Reframe Holdings out of Boca Raton, FL, a commercial real estate investment owner and manager that sponsors unique investment opportunities for institutional and high net worth investors. Todd Lindblom, Regional Manager of the firm’s Milwaukee and Minneapolis offices, served as the broker of record for the transaction.
“We had strong interest for this facility right out the gate. Investor appetite in the self-storage asset class remains elevated bolstered by robust liquidity aimed at the top 100 MSAs.”
Stadium Self Storage consists of 898 units and was originally built in 1942 and converted to self-storage in 2013. The main building is a two-story climate-controlled structure with a basement. In addition, there are four single-story drive-up all metal buildings and an outdoor surface parking area for vehicles. The facility includes two large covered loading bays, and a large institutional grade leasing office with security monitors and retail displays. There are paved driveways throughout as well as elevated back lit signage visible with excellent visibility from Burnam Street. The facility is secured via multiple cameras, perimeter fencing, LED lighting and has digital gate access at the primary ingress to the property and building entryways.
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