MARCUS & MILLICHAP ARRANGES THE SALE OF A 418 UNIT SELF-STORAGE FACILITY

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    Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of East Lansing Storage, a 52,850 square foot self-storage facility located in East Lansing, MI, according to Richard A. Bird, Director of the firm’s National Self Storage Group. The asset sold for $1,450,000.

    Chico LeClaire, Senior Vice President Investments in Marcus & Millichap’s Denver office and Brett R. Hatcher, senior associate in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by LeClaire and Hatcher. Jonathan Dwoskin, Broker, assisted in closing this transaction.

    East Lansing Storage is located at 4200 Hunsaker Street in East Lansing, MI. The property sits on approximately 5.4 acres of land and consists of 399 storage units, 29 of which are fully climate controlled, and 19 parking spaces. Property amenities include climate controlled units, RV and boat storage, security cameras, drive-up access, an electronically controlled entry gate, and 24 hour surveillance. Additionally it is fully fenced and lighted with ground level access. The facility is located less than five miles from Michigan State University which has approximately 49,000 students and 11,000 employees.

    About Marcus & Millichap

    With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally. For more information, please visit: www.MarcusMillichap.com

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