CRE L Iowa

Marcus & Millichap sells 83,000-square-foot self-storage facility in Iowa

Marcus & Millichap sells 83,000-square-foot self-storage facility in Iowa,ph01

Marcus & Millichap has closed the sale of Cedar Storage Southeast, a 83,286-square-foot self-storage facility in Cedar Rapids, Iowa. The asset sold for $5.525 million.

Britney Hendricks, associate, and Sean M. Delaney, senior vice president investments, in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a private investor, was secured and represented by Hendricks and Delaney. Jon Ruzicka assisted in closing this transaction as the broker of record in Iowa.

Cedar Storage Southeast is located at 804 Vernon Valley Dr in Cedar Rapids, IA on a busy throughway, U.S. Highway 151. The property is a 374-unit self-storage facility that includes indoor and outdoor RV and boat storage.