{"id":1004174381,"date":"2017-04-27T06:46:20","date_gmt":"2017-04-27T14:46:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004174381"},"modified":"2022-12-08T22:49:16","modified_gmt":"2022-12-09T06:49:16","slug":"marcus-millichap-closes-record-breaking-self-storage-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-closes-record-breaking-self-storage-sale\/","title":{"rendered":"Marcus &amp; Millichap Closes Record-Breaking Self-Storage Sale"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004174382\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/The-Vault-Milwaukee.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004174382\" data-attachment-id=\"1004174382\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/marcus-millichap-closes-record-breaking-self-storage-sale\/the-vault-milwaukee\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/The-Vault-Milwaukee.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;6.3&quot;,&quot;credit&quot;:&quot;Aerial Oklahoma LLC&quot;,&quot;camera&quot;:&quot;Canon EOS 5DS R&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1478612269&quot;,&quot;copyright&quot;:&quot;(405)840-8977 aerialok.com jtyeager@aerialok.com&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;320&quot;,&quot;shutter_speed&quot;:&quot;0.001&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"The Vault of Menomonee\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Vault of Menomonee&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/The-Vault-Milwaukee.jpg?w=800\" class=\"size-medium wp-image-1004174382\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/The-Vault-Milwaukee.jpg\" alt=\"The Vault of Menomonee\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/The-Vault-Milwaukee.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/The-Vault-Milwaukee.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/The-Vault-Milwaukee.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004174382\" class=\"wp-caption-text\">The Vault of Menomonee Falls<\/p><\/div>\n<p>Marcus &amp; Millichap has announced the sale of a two-property, 1033-unit self-storage portfolio located in the Greater Milwaukee area. The assets, The Vault of Menomonee Falls and The Vault of Waukesha, traded for 17.1 million, the highest price recorded for a self-storage portfolio transaction\u00a0in the region.<\/p>\n<p>Senior Managing Director of Investments Michael Mele and First Vice President of Investments Sean Delaney represented the sellers, both of them private investors. They also secured the buyer, moving and storage giant U-Haul\u2019s parent company, Amerco. The broker was Todd Lindblom, regional manager in the firm\u2019s Milwaukee office.<\/p>\n<p>\u201c<em>The level of interest in these facilities, although still in lease up, was commensurate with the quality of these best-in-class assets. Despite the fact that we are still in an uncertain and changing market, this transaction clearly demonstrates the continued demand by investors for quality assets<\/em>,\u201d said Delaney in a prepared statement.<\/p>\n<p>Both properties are located in highly visible areas and are only 15 miles away from each other.<\/p>\n<p>The Vault of Menomonee Falls has 451 units across 39,573 rentable square feet. By mid-2018, the facility estimates to increase its unit stock to 768 and to double its space. Located\u00a0adjacent to the Bruceton Manor neighborhood near U.S. Route 45 and Interstate 41, it joins other\u00a0national retailers such as Walmart, McDonald\u2019s and Kohl\u2019s.<\/p>\n<p>The other property, The Vault of Waukesha, expanded in 2015 to 582 units and 64,648 square feet. It is located adjacent to the Sunset Heights community, nearby State Highway 59 and Interstate 94.<\/p>\n<p>The assets are approximately 20 miles away from the Greater Milwaukee area, the most populous MSA in Wisconsin and a top 50 MSA nationwide.<\/p>\n<p><em>Image courtesy of Marcus &amp; Millichap<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two properties, The Vault of Menomonee Falls and The Vault of Waukesha, sold for the highest amount ever paid for a self-storage portfolio in the Greater Milwaukee area.<\/p>\n","protected":false},"author":1064,"featured_media":1004174382,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,13,21742],"tags":[34836,32927,35198],"class_list":["post-1004174381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-midwest","category-latest","tag-marcus-millichap","tag-michael-mele","tag-u-haul"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Marcus &amp; 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