MINNEAPOLIS, MN | 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 Somerset Mini Storage, a 30,708 square foot storage facility located in Somerset, Wisconsin.
Chris Kampmeyer, Investment Associate, in Marcus & Millichap’s Minneapolis, Minnesota office and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver, Colorado office, had the exclusive listing to market the property on behalf of the Seller.
Somerset Mini Storage consists of 172 non-climate controlled units, 28 rentable outdoor parking spaces, and land for new development. Somerset Mini Storage is located off WI 35 near Hwy 64 and traffic counts for these highways account for 14,000 cars per day. The facility offers gated access with perimeter fencing, security cameras, two rented apartments, and a rental office. The facility has limited competition and serves as the storage destination for customers that reside in and around Somerset. Somerset Mini Storage has had a history of low vacancy with current vacancy less than 2 percent.