Marcus & Millichap : Brokers $3.75 Million Sale of Regional Warehousing & Mini Storage

SOUTHSIDE, Ala., March 9, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Regional Warehousing & Mini Storage, a 288-unit self-storage facility located in Southside, Alabama, according to Jody McKibben, Marcus & Millichap first vice president and regional manager.

“We leveraged our platform to generate multiple offers from around the country,” says Jake Payne, senior associate out of Marcus & Millichap’s Birmingham office. “In the end, the deal made the most sense for a strong local buyer, who will add scale to his current operation and improve overall performance.”

Payne, in addition to Eddie Greenhalgh, first vice president investments and senior director of the National Self Storage Group, and Lee Thornton, associate, had the exclusive listing to market the property on behalf of the seller. The local buyer was also secured by the team.

Regional Warehousing & Storage is located at 3525 Mountain View Drive in Southside, Alabama, just south of Gadsden and Rainbow City. The 288 units add up to 51,640 net rentable square feet, with room for future expansion. The facility was built in 2005 and sits on 10.55 acres of land.

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About Marcus & Millichap (NYSE: MMI)

With nearly 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 13,255 transactions in 2021 with a value of approximately $84 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.