The self storage facilities has 127,449 rentable square feet in 751 units, including 694 which are climate control
October 17, 2016
: Tri-Sons Storage, a Missouri-based self-storage
operator, has sold a five-property portfolio in Branson, Mo., to an unidentified private investor.
According to a press release, the buyer and seller were represented in the transaction by a team from commercial real estate firm Marcus & Millichap, including Trey Hammond, investment specialist, and Michael A. Mele, senior vice president of investments.
"Branson is very tertiary market, and we were able to field multiple offers that resulted in choosing an out-of-state buyer looking to take advantage of the higher [capitalization] rates achievable in the marketplace,” Hammond said. “Throughout the escrow process, we continued to field inquiries. The total interest and offers throughout the process was a clear indicator of capital migration into new markets searching for greater returns."
Branson has “undergone a high volume of construction since 2015,” the release stated. “This is a great example of the increasing number of private-client deals in the market today,” Mele said.
Tri-Sons lists six facilities in Branson, Forsyth, Kirbyville and Merriam Woods, Mo.
Established in the year 1971, Marcus & Millichap is a commercial-property investment firm with more than 1,500 investment professionals in offices throughout Canada and the United States.