The Mele Group Facilitates Sale of WI Storage
- Oct 15, 2018
The Mele Group of Marcus & Millichap has arranged the sale of Self Storage of Goerkes Corners, an 88,886-net-rentable-square-foot facility in Waukesha, Wis. The asset sold for $9.5 million to a limited liability company affiliated with Baron Properties. The brokerage firm represented both the seller and the buyer in the transaction.
Located at 21300 Doral Road, the facility is near Interstate 94, approximately 5 miles from downtown Waukesha and 15 miles from downtown Milwaukee. In addition, the storage property is surrounded by several apartment communities, including the 244-unit The Corners of Brookfield and 168-unit Willow Creek.
Built in 2014, the six-building self-storage property occupies nearly 5 acres and encompasses 555 units, ranging from 25 to 450 square feet. The gated facility features drive-up access, climate-controlled units and security cameras. Other services provided include on-site management, truck rentals, kiosk and 24-hour access, according to Yardi Matrix.
“Self Storage of Goerkes Corners is one of the dozens of new facilities built in this area over the last three years,” said Sean Delaney, senior vice president of investments at Marcus & Millichap, in prepared remarks. “The Milwaukee MSA continues to be a very active market garnering national attention from buyers and developers.”
The brokerage team included Delaney and Michael Mele, investment specialists. In September, The Mele Group also arranged the sale of the Storage King USA Philadelphia Portfolio, which encompasses three properties totaling 152,596 square feet.
Image courtesy of Marcus & Millichap