Marcus & Millichap, a commercial real estate investment services firm, announced the sale of Randall Road Self Storage, a self storage facility in North Aurora.
Steven D. Weinstock, regional manager of the firm's Chicago Oak Brook office, said the facility is at 1051 Kettle and has strong visibility along Randall Road, which serves as a primary connector to the St. Charles, Batavia and Geneva suburbs.
Sean M. Delaney and Michael A. Mele, investment specialists in Marcus & Millichap's Chicago Oak Brook and Tampa offices, exclusively marketed the property on behalf of the seller, a limited liability company. The buyer, Merit Hill Capital, was also secured and represented by Delaney and Mele. This transaction marked the 34th self storage transaction this year by The Mele Group of Marcus & Millichap.
The surrounding five-mile demographics feature an average household income in excess of $90,000. Constructed in 2003 and expanded in 2008 on its 4.21 acres, the facility encompasses a total of 76,696 rentable square feet and 640 units.