Marcus & Millichap completed the sale of U-Stor-It. This 41,600-square-foot self-storage facility is located in Lansing in Michigan. This transaction was assisted by Steve Chaben, Michigan Broker of Record.
U-Stor-It can be found approximately two miles from Lansing’s state capitol. The facility is situated on 2.52 acres of land, was built in 1988 and currently features 385 non-climate-controlled self-storage units that make up 41,600 net rentable square feet.
U-Stor-It, a stable, cash-flowing facility, has been able maintain strong historical occupancy rates. It also benefits from an undersaturated market for self-storage.