{"id":1004194207,"date":"2017-10-19T04:25:16","date_gmt":"2017-10-19T12:25:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004194207"},"modified":"2022-12-07T18:05:41","modified_gmt":"2022-12-08T02:05:41","slug":"merit-hill-snags-6-property-self-storage-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/merit-hill-snags-6-property-self-storage-portfolio\/","title":{"rendered":"Merit Hill Snags 6-Property Self-Storage Portfolio"},"content":{"rendered":"<p>By IvyLee Rosario\u00a0<\/p>\n<div id=\"attachment_1004194228\" style=\"width: 355px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Compass-Self-Storage_sm.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004194228\" data-attachment-id=\"1004194228\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/merit-hill-snags-6-property-self-storage-portfolio\/compass-self-storage_sm\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Compass-Self-Storage_sm.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Compass Self-Storage\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Compass Self-Storage&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Compass-Self-Storage_sm.jpg?w=800\" class=\"wp-image-1004194228\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Compass-Self-Storage_sm.jpg\" alt=\"Compass Self-Storage\" width=\"345\" height=\"268\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Compass-Self-Storage_sm.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Compass-Self-Storage_sm.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Compass-Self-Storage_sm.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 345px) 100vw, 345px\" \/><\/a><p id=\"caption-attachment-1004194228\" class=\"wp-caption-text\">Compass Self-Storage, one of the six properties in the portfolio<\/p><\/div>\n<p>Amsdell Cos. sold a six-property <a href=\"https:\/\/www.commercialsearch.com\/news\/compass-self-storage-expands-portfolio-with-nc-asset\/\">self-storage portfolio<\/a>, consisting of three assets in Memphis, Tenn. and another three in Northern Mississippi, to Merit Hill Capital.\u00a0Executive Managing Director Investments Charles LeClaire and First Vice President Investments Adam Schlosser of Marcus &amp; Millichap marketed the portfolio on behalf of Amsdell and procured the buyer.\u00a0<\/p>\n<p>The properties\u00a0total 337,846 square feet and 2,391 units\u00a0as well as 297 parking spaces. Built between 1983 and 2006, the facilities are mostly single-story drive-up buildings with a mix of climate- and non-climate-controlled units. Some locations provide amenities such as perimeter fencing, 24-hour video surveillance, electronic gate access and on-site leasing offices. The portfolio also includes two billboards, one commercial tenant and one cell tower generating additional revenue.\u00a0<\/p>\n<p><em>\u201cThe seller purchased the majority of the portfolio through us five years ago, improved the values of the properties considerably, and are exiting the market to deploy capital elsewhere,\u201d<\/em>\u00a0said LeClaire, in a prepared statement. <em>\u201cThe purchaser had the opportunity to enter a new market with scale and by bringing on a national management company, can continue to improve the value of the assets.\u201d<\/em><\/p>\n<p><em>Image courtesy of\u00a0Marcus &amp; Millichap<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The six properties include 2,391 units and are located in Memphis, Tenn. and Northern Mississippi. Marcus &amp; Millichap marketed the portfolio on behalf of the seller, Amsdell Cos., and procured the buyer. <\/p>\n","protected":false},"author":746,"featured_media":1004194228,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,13,21742],"tags":[34498,34836],"class_list":["post-1004194207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-midwest","category-latest","tag-amsdell-companies","tag-marcus-millichap"],"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>Merit Hill Snags 6-Property Self-Storage Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/merit-hill-snags-6-property-self-storage-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Merit Hill Snags 6-Property Self-Storage Portfolio\" \/>\n<meta property=\"og:description\" content=\"The six properties include 2,391 units and are located in Memphis, Tenn. and Northern Mississippi. 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She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. 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