Marcus & Millichap arranged the sale of The Storage Place, a 45,950-square-foot self-store property in Fort Wayne, Indiana.
“This transaction reflects an improving outlook for the self-storage sector, supported by improved first-quarter reports,” said Jeffrey Herrmann, senior director of investments. “The property is well-positioned for the new owner to enhance operating performance through rate adjustments and strategic improvements. Buyers continue to target value-add self-storage opportunities where below-market rents create a clear path to increased revenue.”
Herrmann and Sean Delaney, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, in association with Julia Evinger, Marcus & Millichap’s Indiana broker of record, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both Indiana-based LLCs.
Situated on four acres at 2930 W. Ferguson Road, the property comprises 15 drive-up buildings across 423 non-climate-controlled units and 36 outdoor parking spaces. It is located adjacent to Fort Wayne International Airport.
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