Population Growth, Rising Incomes Push Demand For Midwest Storage
Employment growth in Chicago and a steady increase in household formation pushes up the demand for more self-storage facilities, according to a report from Marcus & Millichap.
Self-Storage REITs Release Financial Results for First-Quarter 2017
The five largest publicly traded, U.S.-based self-storage real estate investment trusts (REITs)—CubeSmart, Extra Space Storage Inc., Life Storage Inc., National Storage Affiliates Trust and Public Storage Inc.—have released financial statements for the quarter that ended March 31, 2017. In general, all five entities showed gains in key areas, particularly funds from operations (FFO) and net operating income (NOI), while also achieving increases in occupancy.
Marcus & Millichap Brokers $17M Sale of Self-Storage Portfolio in Greater Milwaukee
MENOMONEE FALLS AND WAUKESHA, WIS. — Marcus & Millichap has brokered the sale of two self-storage facilities in the greater Milwaukee area for $17 million. The Vault of Menomonee Falls and The Vault of Waukesha are located 15 miles from each other and approximately 20 miles from Milwaukee. The sales price is the highest on record for a self-storage portfolio in the Milwaukee-Waukesha-West Allis metropolitan statistical area, according to a news release.
Record-Breaking Self-Storage Portfolio Sale in Greater Milwaukee
Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of two self-storage facilities in the Greater Milwaukee area, The Vault of Menomonee Falls and The Vault of Waukesha. The two properties sold for a total of $17,075,000, which equates to just under $118 per square foot. The sales price is the highest on record for a self-storage portfolio in the Milwaukee-Waukesha-West Allis metropolitan statistical area (MSA).
The Mele Group of Marcus & Millichap Closes Record-Breaking Self-Storage Sale
The two properties, The Vault of Menomonee Falls and The Vault of Waukesha, sold for the highest amount ever paid for a self-storage portfolio in the Greater Milwaukee area.