Marcus & Millichap recently closed the sale of a 487,081-square foot, 12-property self-storage portfolio located in Green Bay, WI. A limited liability company was secured and represented by Sean M. Delaney, senior managing director in Marcus & Millichap’s Chicago Oak Brook office with assistance from Todd Lindblom who served as broker of record for the transaction.
Delaney commented on the deal stating “The Lok-Safe Portfolio was an ideal opportunity to expand this Arkansas based buyer’s footprint in Wisconsin as they had previously purchased a five property storage portfolio in Sheboygan back September 2022 which I also assisted with.” He further added that “the previous owner did an impressive job aggregating these properties which were operating at close to 98% occupancy with minimal management”. The new owner will now have access to professional management and sophisticated marketing and revenue systems allowing them capitalize on their dominant market share.
Terms of the sale weren’t disclosed but it is clear that this acquisition offers great potential for growth opportunities for both parties involved.
