NASHVILLE—Marcus & Millichap is set to begin marketing a Nashville, TN self-storage portfolio in the coming days. M&M’s Michael Mele, a first vice president of Investments and Anne Williams, a senior associate, will launch marketing efforts in January.
Dubbed the Nashville, Tennessee Self Storage Portfolio, the assets include six class A self-storage facilities. Williams is calling it a rare opportunity within the Nashville MSA that will give a potential investor the opportunity to acquire over 376,000 net rentable square feet of self-storage real estate in the greater Nashville area. Says Williams, “The ability to amass a portfolio like this in a singular investment has not been available in middle Tennessee in over 8 years.”
The current owner of the self-storage portfolio has strategically aggregated over 3,100 units in six locations, all in heavy growth submarkets of the greater Nashville, TN MSA. Mele says the self-storage portfolio was amassed by a private owner who developed, expanded and managed a majority of the self-storage assets during the recession, proving its viability and growth potential.