Update 8/21/13 The Amsdell family of companies has acquired Great American Storage Solutions, a self-storage facility in Lansing, Ill. The acquisitions marks the entry of Compass Self Storage LLC into the Greater Chicago market. Opened in 2008, the property at 2556 Bernice Road has more than 62,000 net rentable square feet and offers drive-up access, climate-controlled units, outdoor storage, truck rental and a full line of moving supplies. It encompasses 532 storage units, 428 of which are climate-controlled.
The acquisition is the companys seventh this year and expands the Compass footprint to its 10th state. "We are thrilled to be able to offer self-storage solutions to our new customers in Lansing to become an active part of the business community," said Todd Amsdell, president.
Sean M. Delaney, a vice president of investments in the Chicago Oak Brook office of Marcus & Millichap Real Estate Investment Services and a director in the firms National Self Storage Group, represented the seller, a limited liability company, and Amsdell Cos. in the transaction.
Headquartered in Cleveland, the Amsdell Cos. draws its roots from the family-owned construction company founded in 1928. The company, which owns and operates self-storage properties in Florida, Georgia, Illinois, Kentucky, Michigan, Mississippi, New Jersey, Ohio, Pennsylvania and Tennessee, has since been active in several billions of dollars worth of real estate ventures with a primary focus in self-storage.
Marcus & Millichap has more than 1,000 investment professionals in offices nationwide and closed more than 6,100 transactions last year.