ANN ARBOR, MI | The LeClaire Group of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of the Devon (Managed) Self Storage Portfolio, a three property self-storage portfolio located across multiple cities in Michigan.
Charles “Chico” LeClaire, Executive Managing Director Investments, and Adam Schlosser, First Vice President Investments, in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. “Our industry is currently dealing with massive amounts of new supply in many major MSA’s around the country,” says Schlosser. “For the most part, it’s missed the state of Michigan this cycle and it’s a big reason why we received such a great response from a national audience.” So far this year, the LeClaire Group has closed 31 self-storage properties.
The Devon (Managed) Self Storage Portfolio consists of 1,615 climate and 210 non-climate controlled units, 32 office suites, and 170 rentable outdoor parking spaces. The facilities are all located in southern Michigan — Ann Arbor, Lansing, and Clinton Township (Detroit MSA).