Denver, CO | 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, announced the sale of the UpLift Self Storage Two Property Portfolio, an 841-unit self-storage portfolio in Homewood and Birmingham, Alabama.
Adam Schlosser, Executive Managing Director Investments, Dave Knobler, Senior Managing Director Investments, and Charles “Chico” LeClaire, Executive Managing Director Investments, of the LeClaire-Schlosser Group of Marcus & Millichap, represented the seller in the transaction. Eddie Greenhalgh served as broker of record in Alabama. “Both of these facilities sit inside submarkets that self-storage buyers are fighting to get into — Homewood was recently ranked the third-wealthiest city in Alabama, with trade-area household incomes pushing past $114,000, and the Trussville asset draws from one of the state’s top-rated school districts,” said Adam Schlosser, Executive Managing Director Investments. “Newer-vintage, Class A self-storage product is scarce in both of these trade areas, and that scarcity translated directly into a competitive process and a strong outcome for our seller.”
“Both of these facilities sit inside submarkets that self-storage buyers are fighting to get into — Homewood was recently ranked the third-wealthiest city in Alabama, with trade-area household incomes pushing past $114,000, and the Trussville asset draws from one of the state’s top-rated school districts. Newer-vintage, Class A self-storage product is scarce in both of these trade areas, and that scarcity translated directly into a competitive process and a strong outcome for our seller.”
The Homewood property, located at 480 Wildwood Circle North, is a Class A facility built in 2021 comprising 385 units and 46,850 net rentable square feet. The Birmingham/Trussville property, located at 3240 Veterans Circle roughly 10 miles northeast of downtown Birmingham, was built in 2016 and comprises 456 units and 52,125 net rentable square feet. Combined, the portfolio totals 841 units and 98,975 net rentable square feet.
