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 Andover Street Self Storage, a 76,396 square-foot self-storage facility located in Peabody, Massachusetts.
Nathan Coe, Brett R. Hatcher, Gabriel Coe, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Thomas Shihadeh, Massachusetts Broker of Record, assisted in closing this transaction.
“This was a new construction, certificate of occupancy closing in a great area of Boston,” said Nathan Coe, the lead agent involved. “We had several strong offers from both public and private companies. The buyer closed on time and at their contract price, and the process shows the market strength and demand for Class A self-storage properties.”
Andover Street Self Storage is located about 13 miles north of Boston in Peabody, Massachusetts. Andover Street Self Storage recently opened in February of 2023 and is expected to lease up quickly. This large, class A facility features over 1,100 units that make up 76,396 square feet and benefits from a great location near the busy Northshore Mall in the heart of Peabody.
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, 2022, the company had 1,904 investment sales and financing professionals in 81 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 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.
