Marcus & Millichap Announces Sale of an 18,600 SF Self-Storage Facility

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of Stor N Run, an 18,600-square-foot self-storage facility in Bishopville, SC. The asset sold for $1.1 million, according to John M. Leonard, regional manager of the firm’s Atlanta office.

The Gorman Self Storage Group, based out of Marcus & Millichap’s Atlanta office, had the exclusive listing to market the property on behalf of the seller, a private investor. The listing team secured and represented the buyer, a limited liability company. Benjamin Yelm, Marcus & Millichap’s broker of record in South Carolina, assisted in closing this transaction.

Stor N Run is a 92 percent occupied self-storage facility with 146 non-climate controlled units and three parking units totaling 18,600 rentable square feet. It is currently one of only two self-storage facilities in the entire city of Bishopville.

“We continue to see extraordinary demand and lack of self-storage inventory prompting buyers to act quickly and allowing sellers to achieve higher than expected prices for their properties. Stor N Run’s listing was under contract in less than one month of marketing,” said Gorman. 

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing 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 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap 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.