HUNTSVILLE, AL | 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 StoreEase Capshaw Road, a 59,150 square foot storage facility located in Huntsville, Alabama.
Ian Lindahl, Adam Schlosser, and Chico LeClaire, storage investment specialists in Marcus & Millichap’s Denver office, along with Eddie Greenhalgh in the firm’s Birmingham office had the exclusive listing to market the property on behalf of the seller, StoreEase. “This was a very smooth transaction for both the buyer and seller on a facility in one of the fastest growing markets in the country,” says Lindahl. The Buyer was Reliant Real Estate Management, who operate under Midgard Self Storage, based out of Roswell, Georgia.
StoreEase Capshaw Road is a modern, institutional quality, high-tech facility, delivered in March 2023, featuring state-of-the-art technology focused on the ease of customer experience while mitigating overall operating expenses. Facility is in a desirable, high-income, and growing residential corridor of Madison County with over 14,000 homes within three miles. 2,000 additional single-family residences are currently under construction within one mile of the facility: Capstone Building Corp. Apartment Complex at 1542 Balch Road and Stoneridge Villas at 1700 Balch Road.
“At a time when storage operators are looking for ways to maximize operational efficiency while minimizing expenses, StoreEase’s Virtual Management Platform helps do just that,” says Lindahl. At close, the facility had leased up to 22% in just 3 months of operation, and buyer Reliant has seen enough early success to keep with the virtual management model on their new facility, which provides a virtual on-site presence to greet customers face to face when they come to the facility. Reliant’s Director of Acquisitions, John Cordova, commented on the transaction saying that, “Reliant sees the virtual management platform as an exciting step forward toward automation within its portfolio.”
StoreEase operates over 30 stores using their Virtual Management technology platform and is continuing to prove that you can reduce payroll expenses and lease up facilities while providing great customer service.
