Marcus & Millichap : Announces the Sale of an 86,966 Rentable Square Foot Self-Storage Facility in Tennessee
April 11, 2023 at 05:08 pm
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Marcus & Millichap Announces the Sale of an 86,966 Rentable Square Foot Self-Storage Facility in Tennessee
April 11, 2023
KNOXVILLE, Tennessee, April 11, 2023 - 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 Knoxville, TN Storage Opportunity, an 86,966-square-foot self-storage facility located in Knoxville, Tennessee.
Gabriel Coe, Brett R. Hatcher and Nathan Coe, investment specialists in Marcus & Millichap's Columbus office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Jody McKibben, Tennessee Broker of Record, assisted in closing this transaction.
"This was sold to an out-of-state buyer after multiple competing offers," said Gabriel Coe, the lead agent involved. "The property was marketed while the sellers were finishing construction and the buyers purchased the facility immediately after the receipt of certificate of occupancy. The buyers will benefit from a brand new facility located in one of the fastest growing markets in the country."
Knoxville, TN Storage Opportunity is located about six and a half miles northeast of downtown Knoxville. The facility recently opened in the fall of 2022 and is currently leasing up its 325 climate-controlled units, 179 non-climate-controlled units, and 20 covered parking spaces that make up 86,966 net rentable square feet.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on 11 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 April 2023 16:07:03 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
