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Self-Storage Properties in WI Set a Record

MILWAUKEE, CHICAGO-For a long time, Milwaukee was a low-activity market, but it recently hit everyone's radar screen.

By Brian J. Rogal | brianjrogal | Updated on May 03, 2017

mil-VaultMenomoneeFalls Built in 2016, The Vault of Menomonee Falls opened in late 2016 with a total of 451 units and 39,573 rentable square feet.

MILWAUKEE, CHICAGO-The moving and storage giant U-Haul has just bought The Vault of Menomonee Falls and The Vault of Waukesha, two self-storage facilities in the Greater Milwaukee area, for a total of $17,075,000. At just under $118 per square foot, the sales price is the highest on record for a self-storage portfolio in the metro area.

The properties had attracted a lot of attention from investors, including the big REITs that specialize in self-storage. And even though these properties are still in the lease up phase, the quick sale did not surprise experts.

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