ALBION, MI, September 23, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Albion Store and Park, a 41,000-square-foot self-storage facility, located in Albion, MI. The asset sold for $1,500,000.
Brett R. Hatcher, an investment specialist in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and also represented by Brett R. Hatcher, and Steven Chaben, Michigan Broker of Record, assisted in closing this transaction.
Albion Store and Park is located at 28996 C Drive N in Albion, MI. Albion Store and Park consists of 302 units with 16 parking spaces. The property has unit sizes that range from 40 square feet to 400 square feet, and has a physical occupancy of 89 percent. Albion Store and Park was built in 1996 and has many desirable amenities, including, perimeter fencing, a gated, keypad entry system and video surveillance.