Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale and financing of Baumgartner Road Storage, a 287-unit self-storage property located on 6.6 acres in St. Louis, Missouri. The sale was an off-market transaction that sold for an undisclosed amount. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, arranged the financing.
“This sale is a win-win for both buyer and seller,” said Marla Čolić, first vice president investments. “It’s a gem of a property, offering solid existing income and significant value-add potential in a strong demographic corridor of St. Louis County. The transaction underscores the importance of relationship-building in our industry. The seller preferred an off-market process, and we were able to bring a well-capitalized buyer to the table.”
Čolić, investment specialist in Marcus & Millichap’s St. Louis office, procured the buyer, an out-of-state storage investor. Doug Brooks, managing director in MMCC’s Columbus office secured a 5-year non-recourse loan with full-term interest only.
Located at 4888 New Baumgartner Road, the property offers a mix of RV parking, climate-controlled, non-climate-controlled and commercial units across 21,275 rentable square feet. Built in 1971 and updated in 2020, the facility is in South St. Louis County, 16 miles south of St. Louis, near Interstate 55.
Marcus & Millichap Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.