Storage Express purchased the industrial self-storage building at 7715 E. 42nd St. in Indianapolis, IN from Simply Self Storage for $1.13 million, or about $19 per square foot.
The 60,250-square-foot building was constructed in 1986. The property consists of 478 self-storage units and 31 parking spaces on approximately eight acres.
Nicholas Walker of Marcus & Millichap handled the deal for Simply Self Storage, while Sean Delaney of Marcus & Millichap represented Storage Express in the acquisition.
About Marcus & Millichap
Since 1971, Marcus & Millichap Real Estate Investment Services has been the premier provider of investment real estate brokerage services. The foundation of our investment sales is the depth of our local market knowledge. Our 40-year history of maintaining investor relationships in local markets enables us to be the best information source and transaction service provider nationally.
In 2011, Marcus & Millichap closed 5,085 investment transactions for private and institutional investors. By closing more transactions annually than any other firm, our investment professionals are able to provide clients with an unparalleled perspective on the investment real estate market locally, regionally and nationally. Included in these transactions were shopping centers, office and industrial buildings, apartment properties, single-tenant net-lease properties, hotels/motels, senior housing facilities, manufactured home communities, self-storage and land.
Marcus & Millichap has established itself as a leading and expanding investment real estate company with more than 1,000 brokers in markets throughout the United States.