Tom de Jong, Senior Vice President with the Colliers International National Self Storage Group has completed the sale EDEO Self-Storage in the Milwaukee, Wisconsin submarket of West Allis, for $10,750,000 to Baron Properties, an institutional owner of self storage facilities. Kelly Gallacher, Principal with Gallacher Development, LLC and Self Storage Ventures were the Seller. EDEO Self-Storage of West Allis was a warehouse to self storage conversion project to be completed in two phases that will feature 100% climate controlled, interior drive-through loading self storage with 531 units in 71,248 rentable square feet and an option to expand. Mark Schnoll of Colliers International in Milwaukee acted as local licensee.
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is an industry-leading real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates).
Baron Properties, of Denver, formed its self storage platform in 2016. The firm is targeting self storage development and investment opportunities in primary and secondary markets throughout the Southwest and Midwest. It currently owns five storage facilities across multiple markets and is seeking to expand its portfolio in 2018.
Gallacher Development based in Lone Tree, Colorado has developed self storage assets throughout the United States, Europe and Brazil partnering with private capital, high net worth and institutional capital partners over the past 25+ years. Gallacher specializes in the acquisition, development and construction management of self storage assets.