Marcus & Millichap Brokers Illinois Storage Sale
- Dec 10, 2019
Marcus & Millichap has arranged the sale of Stowaway Storage, a 44,038-square-foot facility in Collinsville, Ill. Britney Hendricks and Sean Delaney, based in Marcus & Millichap’s Chicago Oak Brook office, worked on behalf of the seller, a private owner, and also procured the buyer, Red Dot Storage.
Located at 1 Business Center Court, the facility is just off Freeway 157 and Interstate 70, which provide exposure to 7,600 vehicles on a daily basis. Approximately 33,400 people live within a 3-mile radius, with less than 5 net rentable square feet storage space available per capita. The facility is also situated close to a cluster of businesses, including an electrical supply store, plumbing supply store and a MotoMart convenience store.
Constructed in two phases in 1985 and 1997, the seven-building asset occupies 2.5 acres and encompasses 354 units, ranging from 25 to 464 square feet. The facility is gated and features climate control, drive-up access, security cameras and parking and RV parking spaces.
In October, Marcus & Millichap’s Fort Worth-based Karr Self Storage Group arranged the sale of More Space Storage a 92,562-square-foot property in Odessa, Texas.
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