Listing Portfolios

Michiana Portfolio - UNDER CONTRACT

NRSF - 247,398

The Mele Group of Marcus & Millichap has been selected to exclusively market for sale the Michiana Self Storage Portfolio, located in the northern Indiana and southwestern Michigan region.

Acquisition of the nine-property, self-storage portfolio provides an investor with widespread coverage of the northern Indiana and southwestern Michigan markets, in an area commonly referred to as Michiana. The portfolio offers the opportunity to enhance returns through raising rates to match the respective markets’ averages and continuing lease-up activity at individual locations, while utilizing the expansion opportunities available at multiple sites to meet the strong demand for storage, as indicated by the sites at near or full occupancy. At the end of years one and two are excellent cash-on-cash returns of 12.4 percent and 13.4 percent.

Of the nine facilities and one annex location, the portfolio boasts 1,419 units across 247,398 rentable square feet. The offering has current physical and economic occupancies of 83.9 percent and 74.7 percent, respectively. Several of the facilities are nearly or fully occupied, indicating the market’s high demand for storage. Four of the facilities offer the opportunity to expand upon their parcels to meet this demand in their growing areas. Furthermore, the Valparaiso and Plymouth locations feature self-service kiosks, contributing to a reduction in management fees.

The region is reputed for its quick access to major highways and railways, and the portfolio indicates this through each site maintaining high visibility and ease of access to thoroughfares in close proximity. Centered in South Bend, Michiana’s counties include Elkhart, La Porte, Marshall, St. Joseph and Starke in Indiana, and Berrien and Cass in Michigan.

  • A-Z Self Storage of Valparaiso A-Z Self Storage of Valparaiso
    952 North State Road 149
    Valparaiso, Indiana
  • A-Z Self Storage of Spring Meadow A-Z Self Storage of Spring Meadow
    826 Spring Meadow Farm Drive
    Middlebury, Indiana
  • A-Z Self Storage of La Porte A-Z Self Storage of La Porte
    2749 Indiana State Road 39
    La Porte, Indiana
  • A-Z Self Storage of Mishawaka A-Z Self Storage of Mishawaka
    1535 Peachtree Lane
    Mishawaka, Indiana
  • A-Z Self Storage of Michigan City A-Z Self Storage of Michigan City
    101 Lumber Center Road
    Michigan City, Indiana