Inland Real Estate buys two Wisconsin self-storage sites from Bruno's
Colliers' Dan Lynch represented the seller on the 175,825-square-foot, 1,486-unit pair; no price was disclosed.
At a glance
The two facilities total 175,825 square feet and 1,486 units, with a 2020-completed property in Pleasant Prairie and a 2019-completed one in West Bend.
The report did not disclose a purchase price or cap rate for either facility.
Inland Real Estate acquired two Extra Space-managed self-storage facilities in Wisconsin from Bruno's Self Storage, a sale Colliers' Dan Lynch represented, Connect CRE reported on Oct. 22.
The two facilities total 175,825 square feet and 1,486 units, with a 2020-completed property in Pleasant Prairie and a 2019-completed one in West Bend. The Pleasant Prairie facility, at 9001 Wilmot Rd., runs 93,650 square feet with 749 climate-controlled units; the West Bend facility, at 1585 Corporate Center Dr., is 82,175 square feet with 727 climate-controlled units. Connect CRE describes both as Class A and places them in southern Wisconsin and the Milwaukee metropolitan statistical area, respectively.
The report did not disclose a purchase price or cap rate for either facility.
Lynch characterized demand at the sector level: "Storage remains an attractive asset class for investors, and these transactions further demonstrate that demand for high-quality, well-located self-storage remains robust," he said, according to Connect CRE.
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