What's Happening?
Marcus & Millichap has successfully brokered the sale of EZ Storage, a 635-unit self-storage facility located in Plymouth, Michigan, a suburb of Detroit. The facility, which was completed in December 2022, offers 73,450 net rentable square feet of climate-controlled storage space. The sale was managed by Brett Hatcher, Gabriel Coe, and Nathan Coe of Marcus & Millichap, along with Paul Kerber, the company's Michigan broker of record. The identity of the buyer has not been disclosed.
Why It's Important?
The sale of the EZ Storage facility reflects ongoing demand for self-storage solutions in suburban areas, driven by factors such as population growth and increased consumer need for storage space. This transaction underscores the role of real estate firms like Marcus & Millichap in facilitating significant property deals, which can impact local economies by attracting investment and potentially creating jobs. The climate-controlled aspect of the facility highlights a trend towards more sophisticated storage solutions catering to diverse consumer needs.
