Real Estate Roundup: Self-Storage Transactions April 2017
Sold! Weekly Self-Storage Acquisition Round Up
U-Haul parent company AMERCO has purchased two recently-built self-storage facilities in the Milwaukee metro area for a combined $17 million. Both facilities operated under the name The Vault Self Storage and were sold by private investors. The 451-unit facility at N58 W15500 Shawn Circle in Menomonee Falls was built in 2016. A second phase is planned for completion over the next 12 months and will expand the facility to a total of 786-units and 80,230 square feet.
U-Haul to expand at The Vault self-storage facility in Waukesha
U-Haul will expand its local operations after recently buying a Waukesha self-storage facility, according to a news release announcing the sale.
Record-Breaking Self-Storage Portfolio Sale in Greater Milwaukee
CHICAGO, April 26, 2017 – 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 $118.00 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).
U-Haul adding two Waukesha County locations through acquisitions
U-Haul Co. of Southeastern Wisconsin is continuing its expansion, taking over two self-storage facilities in Waukesha and Menomonee Falls through a recent purchase valued at more than $17 million.