Marcus & Millichap recently finalized the sale of Space Squared Self Storage, a top-of-the-line self-storage facility in Grand Rapids, Michigan. The property boasts 317 units and is highly sought after in the competitive self-storage market.
According to Jonathan Fawley, first vice president investments at Marcus & Millichap, finding success in this market can be challenging but there are still opportunities for buyers to find strong value. Utilizing their extensive platform and resources allowed them to attract a wide range of potential buyers and ultimately secure a smooth closing with an institutional buyer who had previously worked with Marcus & Millichap.
The exclusive listing for Space Squared Self Storage was held by investment specialists Nathan Coe, Gabriel Coe, Brett Hatcher from the Columbus office of Marcus & Millichap. Steve Chaben also played an important role as Broker of Record in Michigan during the transaction process.
Located at 949 4 Mile Road NW just five miles north from central Grand Rapids city center, Space Squared offers both climate-controlled (194 units) and non-climate-controlled (123 units) options across its impressive 41,925 rentable square feet space. Originally built in 1995 with recent renovations completed this year (2022), it is considered one of Class A facilities available on today’s market.
This successful sale has been featured on Connect CRE as another example showcasing how well-established firms like Marcus & Millichap continue to excel within their industry by delivering exceptional results for clients time after time.
