5/27/2008

Marcus & Millichap sells Ohio self-storage portfolio for $18.85M

by
Marcus & Millichap has negotiated the sale of the Storage Inns of America portfolio in Columbus, Ohio, for $18.85 million, or $45.09 per square foot.

Michael Mele, Adam Schlosser and Bret Hatcher of Marcus & Millichap represented the seller, a Dayton-based private investor. The buyer, a Mishawaka, Ind.-based investment group, was represented by Sean Delaney and Jesse Luke of the firm's Oak Brook, Ill., office.

The portfolio contains seven properties and was sold with a 5.16 percent capitalization rate. It contains 3,502 units and includes the following:

- 1330 Georgesville Rd., Columbus, Ohio
- 7200 Tussing Rd., Reynoldsburg, Ohio
- 9984 South Old State Rd., Lewis Center, Ohio
- 5199 Westerville Rd., Columbus, Ohio
- 5301 East Tamarack Circle, Columbus, Ohio
- 580 East Dublin-Granville Rd., Worthington, Ohio
- 1585 Lexington Ave., Mansfield, Ohio

Size: 418,020 square feet/3,502 units

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Filed Under: Self-Storage

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