Colliers Chicago Senior Vice President Dan Lynch arranged the sale of Posen Storage, a 535-unit self storage facility located at 14750 S. Western Ave. in Posen IL. Lynch represented the buyer, National Storage Affiliates, and the seller, Safe Affordable Storage LLC, in the transaction. Sale price was not disclosed.
The newly constructed three-story climate-controlled facility enjoys high freeway visibility and easy access to I-94 and Chicago’s CBD to the north, and I-80 and the south suburbs, via its immediate access to I-57.
Built in 2020, Posen Storage enjoyed immediate leasing success achieving a 50% lease rate after only 12 months.
“Self storage is considered the most attractive asset class nationally for investors seeking rent growth,” said Lynch. “Demand for storage has never been greater and all the drivers for rent growth remain in place. With land, labor and material costs increasing, new self-storage supply should remain checked and in balance.”
Colliers International’s Self Storage Group is a dominant leader in self storage real estate. With experts strategically located in key markets throughout North America, and backed by Colliers’ global platform, the group combines industry-specific knowledge, local expertise and integrated resources to support its clients’ real estate objectives.