Veteran Self-Storage Broker Joins Marcus & Millichap in Washington, D.C.

Rhea-AI Summary

Marcus & Millichap (NYSE: MMI), a leader in commercial real estate brokerage, announced the addition of Robert “Bobby” Bloch as a senior vice president in its Washington, D.C. office. Bloch, with 30 years of experience in investment sales and business development, will focus on self-storage investment property transactions. Previously with Cushman & Wakefield, Bloch has overseen over $800 million in self-storage sales since 2013. This strategic hire aims to enhance Marcus & Millichap's presence in the Mid-Atlantic region, leveraging Bloch's extensive industry knowledge and network. The company highlights the growing demand for self-storage in Washington, D.C., driven by increasing net in-migration and low inventory growth.

Positive

• Robert “Bobby” Bloch joins Marcus & Millichap as senior vice president, bringing 30 years of experience.
• Bloch has facilitated over $800 million in self-storage investment property sales since 2013.
• Hiring Bloch strengthens Marcus & Millichap's presence in the Mid-Atlantic region.
• Washington, D.C. metro area is expected to have one of the four lowest self-storage vacancy rates in the nation.

Negative

• None.

WASHINGTON--(BUSINESS WIRE)-- Marcus & Millichap (NYSE:MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that veteran self-storage broker Robert “Bobby” Bloch has joined the firm’s Washington, D.C. office as a senior vice president. Bloch will focus on self-storage investment property acquisitions and dispositions on behalf of clients. He has 30 years of investment sales, management, and business development experience.

Robert Bloch (Photo: Business Wire)

“The addition of Bobby extends the hiring momentum we’ve had over the past 18 months as we continue to expand our support for clients across all property types in markets throughout North America,” said Brian Hosey, senior vice president and division manager. “Bobby’s extensive network of relationships and deep knowledge of the self-storage industry further strengthen our presence in the Mid-Atlantic region and gives us the opportunity to offer our services to even more investors.”

Previously with Cushman & Wakefield, Bloch specializes in self-storage acquisition and dispositions in the Mid-Atlantic and Northeast United States. He has completed over $800 million in self-storage investment property sales since 2013 on behalf of private investors, real estate investment trusts, and institutional-level funds and firms.

“As net in-migration grows in the Washington, D.C. metro area, self-storage needs increase, and with inventory growth falling below the trailing 10-year average, we expect that the metro will end the year with one of the four lowest self-storage vacancy rates in the nation,” said Steven D. Weinstock, senior vice president and national director of Marcus & Millichap’s Self-Storage Division. “I know that Bobby will be a great resource for investors drawn to the region’s opportunities and I am pleased to have him on our roster of self-storage investment specialists.”

About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240628969209/en/

Gina Relva, VP of Public Relations

Gina.Relva@marcusmillichap.com

510-999-1284

Source: Marcus & Millichap, Inc.

FAQ

What new hire was announced by Marcus & Millichap in Washington, D.C.?

Marcus & Millichap announced the addition of veteran self-storage broker Robert “Bobby” Bloch as a senior vice president in their Washington, D.C. office.

What will Robert Bloch's role be at Marcus & Millichap?

Robert Bloch will focus on self-storage investment property acquisitions and dispositions on behalf of clients.

How much self-storage investment property sales has Robert Bloch completed?

Robert Bloch has completed over $800 million in self-storage investment property sales since 2013.

What impact does the addition of Robert Bloch have on Marcus & Millichap?

Robert Bloch's addition strengthens Marcus & Millichap's presence in the Mid-Atlantic region and enhances their service offerings to investors.

What is the stock symbol for Marcus & Millichap?

The stock symbol for Marcus & Millichap is MMI.

How is the self-storage market expected to perform in Washington, D.C.?

The Washington, D.C. metro area is expected to have one of the four lowest self-storage vacancy rates in the nation due to growing net in-migration and low inventory growth.