MILWAUKEE, CHICAGO-The moving andstorage giant U-Haul has just bought The Vault of Menomonee Falls andThe Vault of Waukesha, two self-storage facilities in the GreaterMilwaukee area, for a total of $17,075,000. At just under $118 persquare foot, the sales price is the highest on record for aself-storage portfolio in the metro area.
The properties had attracted a lotof attention from investors, including the big REITs thatspecialize in self-storage. And even though these properties arestill in the lease up phase, the quick sale did not surpriseexperts.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
