BLOOMINGTON, IN – Storage Express has purchased Land of Lincoln Storage in Macomb, Illinois, a city of 20,000 people, and the home of Western Illinois University. The 170 unit facility marks the company’s 13th acquisition in Illinois this year.
Jeff Herrmann of Marcus & Millichap represented both Buyer & Seller in this transaction, which closed all-cash within 30 days.
“This five-year-old facility is in decent shape. We’re putting the shine on it and rebranding it to our portfolio standard — signature blue, HD cameras, access control, LED lighting, and our 24/7 Rental Center,” added Shreve.
“At 23,000 SF – this property would be too small for many portfolio operators. But these are bite-sized deals, given our manager-less operating platform. There are so many small Midwestern markets like Macomb out there.” Shreve continued, “I like little deals like this one. why we’ve done more than a hundred of them!”
Storage Express owns and operates properties across Indiana, Illinois, Kentucky, Tennessee and Ohio. Rentals are centralized out of the Company’s Indiana headquarters, which is open 24/7. Local Field Service Reps are on the road daily, maintaining their properties.
Storage Express has five expansion and new build projects underway presently. More information about the Company can be found at StorageExpress.com.