Marcus & Millichap Secures the Sale of a 178,680-NRSF Self-Storage Portfolio
MONTGOMERY, AL, January 13, 2017- 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 Montgomery Alabama Portfolio, a 178,680-NRSF self-storage portfolio located in Montgomery, AL, according to Joseph W. McKibben, regional manager of the firm's Birmingham office.
1.5-Acre Self-Storage Development Parcel Trades for $11m
BETHESDA, Md., Jan. 6, 2017 – 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 a 1.5-acre parcel of land, located in Bethesda, Maryland. The buyer plans to redevelop the site with a class-A self-storage facility, according to Bryn D. Merrey, senior vice-president/division manager of the firm’s Mid-Atlantic and Southeastern offices. The land sold for $11 million, approximately $7.3 million per acre.
1784 Capital Holdings to Develop Self-Storage Facility in Bethesda, MD
1784 Capital Holdings LLC intends to develop a self-storage facility on 1.5 acres in Bethesda, Md. The company acquired the property at 5204 River Road for $11 million. It will redevelop the site, which currently houses an automotive body shop, according to Bryn Merrey, senior vice president and division manager of the firm’s mid-Atlantic and Southeast offices.
Self-Storage Development Site Sells for $11M
1784 Capital Partners is planning to develop a new self-storage facility on the 1.5-acre parcel in Bethesda, Md.
A Self-Storage Buyer's Guide to Understanding and Calculating Facility Value
Self-storage facilities provide their owners with a lucrative source of income and a nice lifestyle. However, buying a business isn’t a simple process. It requires a hefty initial investment, which makes the ability to accurately value a property essential—both at the time of purchase as well as when it comes time to sell.