Marcus & Millichap : Completes Six-Property Self-Storage Portfolio Sale in Metro Atlanta
January 07, 2022 at 01:48 pm
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ATLANTA, Jan. 7, 2022 - 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 Your Extra Attic, a six-property, 3,070-unit self-storage portfolio located in metro Atlanta, Georgia.
"This Your Extra Attic portfolio spans 30 miles in northwestern Georgia, an area with extremely favorable demographics," said Stacey Gorman, senior vice president investments in Marcus & Millichap's Atlanta office. "The region has seen tremendous population growth over the past decade and is expected to grow by an additional 5% to 20% within the next five years. The portfolio's potential for expansion contributed to the competitive sales process we conducted for this unique set of properties."
Gorman represented the seller, Your Extra Attic, a family-owned business with over 30 years' experience in building and managing self-storage properties. Your Extra Attic's principals, Michael and Marc Gray, both spent their careers in the self-storage industry developing the properties, building the Your Extra Attic brand and managing the properties. Gorman also procured the buyer, a private investment firm.
The properties are:
6075 Post Road, Cumming, a 519-unit, all-climate, multi-story facility built in 2020
1715 Peachtree Parkway, Cumming, a 516-unit facility built in 1999 and 2002
130 Peachtree Industrial Blvd., Sugar Hill, a 538-unit facility built in 1999 and 2001
5534 Highway 92, Acworth, a 538-unit facility built in 1983 and expanded in 2002
13700 Highway 9, Milton, a 529-unit facility built in 2002 and 2005
2909 Log Cabin Drive, Smyrna, a 536-unit all-climate, multi-story facility built in 2006
The average net rentable square feet is 72,650 and 55% of the units are climate controlled.
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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.
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Marcus & Millichap Inc. published this content on 07 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 January 2022 18:47:02 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.