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 Duncan Mini Storage, a 14,400-square foot self-storage located in Evansville, IN, according to Steven D. Weinstock, Vice President / Regional Manager of the firm’s Chicago Oak Brook office. The asset sold for $530,000.
Sean M. Delaney and Matthew E. Duda, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a developer, was also secured and represented by Sean M. Delaney and Matthew E. Duda. Josh Caruana, Broker, assisted in closing this transaction.
Duncan Mini Storage at 415 Shamrock Drive sold in 30 days at 92 percent of its original list price. The property consists of three single-story buildings with 166 storage units, ranging in size from 5’x15′ to 10’x30′.
Duncan Mini Storage was built in 1994 and is situated on approximately 1.44 acres of land with .5 acres of possible expansion. This facility is currently 99 percent physically occupied and 78 percent economically occupied. The property offers several amenities including an automated gate, asphalt drives, and a sign with very good visibility.
About Marcus & Millichap
With over 1,300 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 6,600 transactions in 2013 with a value of approximately $24 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]]>