“Off-Market Transaction Results in Sale of St. Louis Self-Storage Property”

"Off-Market Transaction Results in Sale of St. Louis Self-Storage Property"

Marcus & Millichap recently finalized the sale and financing of Baumgartner Road Storage, a self-storage property situated on 6.6 acres in St. Louis, Missouri with 287 units.

According to Marla Čolić, first vice president investments at Marcus & Millichap’s St. Louis office, this property is a hidden gem that offers strong current income and potential for added value in an affluent area of St. Louis County. The seller specifically requested an off-market process for the sale and we were able to bring in a well-funded buyer.

Čolić was responsible for securing the out-of-state storage investor as the buyer while Doug Brooks, managing director at MMCC’s Columbus office arranged a 5-year non-recourse loan with full-term interest only.

The facility is located at 4888 New Baumgartner Road and features various types of units including RV parking spaces as well as climate-controlled, non-climate-controlled and commercial units spread across 21,275 rentable square feet. Originally built in 1971 but updated in 2020,the property is conveniently situated just off Interstate-55 within South St.Louis County approximately16 miles south of downtownSt.Louis.

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.

Share the Post:

Related Posts