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Marcus & Millichap Facilitates Sale of 441-Unit Self-Storage Property in Soddy Daisy

Posted on by Vaseline

Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced Tuesday the sale of All City Self Storage, a 441-unit self-storage property in Soddy Daisy, Chattanooga MSA.

“This deal was sold to a private buyer from out of state in a very competitive process,” said Gabriel Coe, senior managing director of investments. “The buyer has a strong market position throughout the area, so they will benefit from strong economies of scale in the market. They will also benefit from the property’s strong existing cash flow and the ability to increase occupancy and rents.”

Gabriel Coe, Nathan Coe and Brett Hatcher, investment professionals in Marcus & Millichap’s Columbus office, were exclusively assigned to market the property on behalf of the seller, a limited liability company. Jody McKibben, Broker of Record in Tennessee, assisted in closing the transaction.

All City Self Storage is located at 296 Walmart Drive, just 16 miles north of Chattanooga. The 56,979 square foot self-storage facility consists of 133 climate-controlled units and 283 non-climate-controlled units. The property was built in 1999 and sits on 29.93 acres with room for an additional 15,000 square feet of expansion.