WAUKESHA, Wis., October 11, 2018 - 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 Self Storage of Goerkes Corners, a 555-unit self-storage facility located in Waukesha, Wis., according to Steven D. Weinstock, regional manager of the firm's Chicago Oak Brook office. The asset sold for $9,500,000.
Sean M. Delaney and Michael A. Mele, investment specialists in Marcus & Millichap's Chicago Oak Brook and Tampa offices, exclusively marketed the property on behalf of the seller, a limited liability company. The buyer, a limited liability company affiliated with Baron Properties out of Denver, Colo., was also secured and represented by Delaney and Mele. Todd Lindblom assisted with the transaction as the broker of record in Wisconsin. This transaction marked one of nearly 40 self-storage transactions this year by The Mele Group of Marcus & Millichap.
"Self Storage of Goerkes Corners is one of the dozens of new facilities built in this area over the last three years," says Delaney, senior vice president investments. "The Milwaukee MSA continues to be a very active market garnering national attention from buyers and developers. The buyer entered the Milwaukee market 14 months ago, making this is a wonderful addition to their portfolio."
Constructed in 2015, the property at 21300 Doral Road features climate- and non-climate-controlled units. It is located along Watertown Road, a main thoroughfare and Interstate 94.