CRE O Indiana

Marcus & Millichap sells self-storage facility in Indiana

Marcus & Millichap closed the sale of Southside Storage in Bloomington, Indiana. The self-storage facility sold for $74 per net rentable square foot.

Sean Delaney and Jeffrey Herrmann, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, and Michael Mele, investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. Regional Manager Josh Caruana assisted in closing this transaction as the broker of record in Indiana.

Jeff Brawley of Weichert, Realtors® - The Owens Group, advised the buyer.

The facility’s location provides access to many primary thoroughfares in Bloomington, including State Road 37 and Interstate 69 at a distance of 2.5 miles, and state roads 45, 46 and 446 at a five-mile distance. Immediately surrounding the facility are single-family residential homes. Downtown Bloomington is an estimated 3.5 miles north. The population within a five-mile radius consists of 100,453 individuals among 39,700 households with a steady annual rate of growth.