“Grand Rapids Self-Storage Complex with 317 Units Sells”

"Grand Rapids Self-Storage Complex with 317 Units Sells"

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.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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