Marcus & Millichap Arranges Sale of a Five Property Self Storage Portfolio in Mississippi

LONG BEACH, Miss., Sept. 24, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Bearcat Self Storage, a five-property, 480-unit self-storage portfolio located in Long Beach, Mississippi.

"This deal presented several challenges, including navigating interest rate hikes, rising insurance costs and managing the seller's expectations," said Matt Porter, senior associate. "However, due to my strong relationship with the seller, they remained committed through the difficult moments. I'm thrilled to have successfully closed this transaction for my client."

Porter, investment specialist in Marcus & Millichap's Memphis office, marketed the property on behalf of the seller. Mickey Davis, Broker of Record in Mississippi, assisted in closing the transaction.

All within four miles of each other, the properties are located at 603 Gardendale Ave., 500 E. Railroad St., 190 E. Old Pass Road, 19020 Commission Road, and 20225 28th St. The portfolio contains a combined 480 non-climate and climate-controlled units across 61,350 rentable square feet.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.