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Updated: October 23, 2023

California real estate firm brokers self-storage deal in Kennebec County

2 storage buildings and sign Courtesy / Marcus & Millichap Three self-storage facilities in Chelsea and Vassalboro had a combined list price of $4.5 million.

Marcus & Millichap Inc. (NYSE: MMI), a commercial real estate brokerage firm headquartered in Calabasas, Calif., said it brokered the sale of a three-property self-storage portfolio in the Kennebec County towns of Chelsea and Vassalboro.

Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe, investment specialists in Marcus & Millichap’s Columbus, Ohio, office, had the listing to market the property on behalf of the seller. James Koury, Maine broker of record, assisted in closing the transaction.

The seller is an individual personal trust.

The buyer was undisclosed.

The purchase price was undisclosed. The combined list price for the three properties was $4.5 million, a Marcus & Millichap spokesperson told Mainebiz.

The addresses are 1203 Eastern Ave., Chelsea; 1250 Eastern Ave., Chelsea; and 1494 North Belfast Ave., Vassalboro.

The Chelsea sites were established as self-storage businesses in 2008 and the Vassalboro site in 2010.

Two of the sites are called ABC Self Storage and one is called Chelsea Self Storage.

The properties are in good condition. 

The three properties are located within eight and a half miles of each other. Combined, the facilities feature 296 non-climate-controlled self-storage units, portable units and rental space units that make up 45,690 net rentable square feet. All three sites have room for future expansions, although the buyer didn’t disclose any future plans. The sites all have  good street frontage with strong daily traffic counts.

Marcus & Millichap specializes in commercial real estate investment sales, financing, research and advisory services with offices throughout the U.S. and Canada. It closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. 

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