The Hatcher Group of Marcus & Millichap recently brokered the sale of four stabilized self storage facilities in Southern Maine consisting of 92,275 combined net rentable square feet throughout 793 total units.
The portfolio had a combined physical occupancy of 93.95% and there is an opportunity for upside via 15,000 fully approved and graded square feet for expansion in Oxford, a site which was built in 2019 and is already more than 96% occupied. The Windham location was expanded in 2018, which included climate controlled units and is already at 93% occupancy.
Additionally, the new owner can add value by implementing tenant insurance and increasing rental rates, which are currently below market value.
For more information, contact Nathan Coe at Nathan.Coe@MarcusMillichap.com
