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 Regional Warehousing & Mini Storage, a 288-unit self-storage facility located in Southside, Alabama, according to Jody McKibben, Marcus & Millichap first vice president and regional manager.
“We leveraged our platform to generate multiple offers from around the country,” says Jake Payne, senior associate out of Marcus & Millichap’s Birmingham office. “In the end, the deal made the most sense for a strong local buyer, who will add scale to his current operation and improve overall performance.”
Payne, in addition to Eddie Greenhalgh, first vice president investments and senior director of the National Self Storage Group, and Lee Thornton, associate, had the exclusive listing to market the property on behalf of the seller. The local buyer was also secured by the team.
Regional Warehousing & Storage is located at 3525 Mountain View Drive in Southside, Alabama, just south of Gadsden and Rainbow City. The 288 units add up to 51,640 net rentable square feet, with room for future expansion. The facility was built in 2005 and sits on 10.55 acres of land.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
