The Mele Group Secures the Sale of Greater Los Angeles Self-Storage Facility
HEMET, Calif., September 13, 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 Hemet Self Storage, a 77,758 square-foot self-storage facility located in Hemet, CA, according to Ari Ravi, regional manager of the firm’s Tampa office.
Iron Guard Storage Acquires Washington Avenue Mini-Storage in Evansville, IN
Iron Guard Storage, which operates 20 self-storage facilities in nine states, has acquired Washington Avenue Mini-Storage in Evansville, Ind., its first in the state. The property at 4619 Washington Ave. is near the intersection with Green River Road, across from Washington Square Mall shopping center. It comprises 80,875 square feet of storage space in 680 climate-controlled and drive-up units.
The Mele Group of Marcus & Millichap Sells Indiana Self Storage Facility
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 680-unit, 80,875 square-foot self storage facility located at 4619 Washington Ave. in Evansville, Ind., according to Steven D. Weinstock, regional manager of the firm's Chicago Oak Brook office.
Iron Guard Storage Enters Indiana Market
Iron Guard Storage has purchased Washington Avenue Mini Storage, an 80,875-square-foot facility in Evansville, Ind. The Mele Group of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company, and secured the buyer in the transaction. The property marks Iron Guard Storage’s first purchase in Indiana.
Self Storage Shakeout Ahead?
The sector’s strengths attract both REITS and private capital, yet some insiders worry about overbuilding and downward pressure on rental rates.