Marcus & Millichap closed the sale of Alpha Storage, a multi-story facility with 68,277 rentable square feet of self-storage in Hammond, Indiana.
Jeffrey Herrmann, senior associate, and Sean Delaney, senior managing director, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a local limited liability company.
The buyer, a Chicago-based limited liability company, was also secured and represented by Herrmann and Delaney. Josh Caruana, Indiana Broker of Record, assisted in closing this transaction.
Alpha Storage is located at 252 Wildwood Road in Hammond within a vintage, rehabilitated building with substantial room for expansion beyond its existing 595 units, and currently contains both indoor and outdoor RV and boat parking.
The property collects additional cell tower income with 5G upside via direct access to as many as seven cellular-communications carriers.
