What is the story about?
What's Happening?
Marcus & Millichap has brokered the sale of EZ Storage, a 635-unit self-storage facility located in Plymouth, Michigan. The facility, 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 firm'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 highlights the 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 reflects the strength of the self-storage market, which continues to attract investment due to its resilience and steady demand. The facility's climate-controlled units cater to a growing consumer preference for secure and temperature-regulated storage options, indicating a trend towards more sophisticated storage solutions. The sale underscores the importance of strategic real estate transactions in supporting local economic development.
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