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 a 72,596-square-foot self-storage portfolio. The Byrd’s Mini Storage Gainesville Portfolio sold for $5.95 million, according to John M. Leonard, regional manager of the firm’s Atlanta office.
Stacey Gorman, senior vice president of investments in Marcus & Millichap’s Atlanta office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Gorman and Sam Slocum, an investment specialist in Marcus & Millichap’s Atlanta office.
“This sale highlights the industry trends of remote management and investor interest in markets outside of major population centers,” said Gorman.
The Byrd’s Mini Storage Gainesville Portfolio consists of four properties that are situated less than 3.5 miles apart from one another, which creates efficiencies in managing them together. The unit mix of these properties includes self-storage, warehouse space, retail spaces and an apartment. A billboard with an in-place lease through September of 2029 is also included.