Hastings Property Group LLC Acquires Self Storage Facility In Janesville For $2.3M

Interstate Secure Storage is a 233-unit self-storage facility located at 3031 East Delavan Drive in Janesville, WI. The property sold for $2,300,000, reflecting a per-unit price of $9,871. The asset transition allowed the client to shift from multifamily assets to storage while maintaining their debt structure and ensuring immediate positive cash flow.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $2,300,000
• Units: 233
• PPU: $9,871
• Buyer: Hastings Property Group LLC
• Broker: Daniel Bowar - Marcus & Millichap
• Sale Date: 12/04/2024
• Market: Janesville, WI

Daniel Bowar from Marcus & Millichap represented the seller in the transaction, facilitating the sale of the self-storage facility. The transaction successfully concluded the client’s strategy to enhance their portfolio by entering the self-storage market.