SOUTHFIELD, MI, April 20, 2016 – 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 Lake Orion Self Storage, a 38,400 square foot self-storage facility located in Lake Orion, Michigan, and StorMax, a 9,150 square foot self-storage facility in Oxford, Michigan according to Steven Ross Chaben, regional manager of the firm’s Detroit office.
Tom Berlin, a self-storage investment specialist in Marcus & Millichap’s Detroit office, had the exclusive listing to market the properties on behalf of the sellers. Berlin also procured the buyer for both facilities, a limited liability company.
Located in Oakland county, one of the ten highest income counties in the U.S., the two facilities offer a total of 292 indoor units plus a 3,600 square foot single-tenant building with a variety of amenities including controlled entry systems, individual unit door alarms, video monitoring and high output, energy efficient exterior lighting fixtures.
About Marcus & Millichap (NYSE: MMI)
With nearly 1,500 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 7,600 transactions in 2014 with a value of approximately $33.1 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com