Real Estate Roundup: Self-Storage Transactions September 2017
The two-property Apache Junction Self-Storage portfolio in Apache Junction, Ariz., was sold to a private investor. The properties are just over a mile from one another at 1678 Superstition Blvd. and 1735 W. Apache Trail. The Superstition facility sits on 4.8 acres and comprises 60,442 rentable square feet of storage space in 398 units. It also contains 13 offices and 40 vehicle-parking spaces. The Apache Trail site comprises 26,522 rentable square feet of storage space in 210 units. It also contains seven office spaces. Both sites were built in 1997. The seller, also a private investor, was represented in the transaction by Devin Beasley, Luke Elliott, Daniel Kuchugurny and Michael A. Mele, investment specialists for real estate firm Marcus & Millichap (M&M). Kuchugurny and fellow broker Edward J. Nelson represented the buyer. Brian Tranetzki also assisted.
Sold! Weekly Self-Storage Acquisition Round Up 9.20.17
An out-of-state private investor has purchased Stockton Self Storage in Stockton, CA. The 53,425-square foot facility is at 1880 W. Charter Way. Situated on 6.6 acres, the facility comprises 409 non-climate-controlled storage units and 225 covered parking spaces for boats and RVs. The sale price and the names of the buyer and the seller, who’s a private investor, weren’t disclosed. Marcus & Millichap’s Devin Beasley, Luke Elliott, Michael Mele and Daniel Kuchugurny listed the property on behalf of the seller and represented the buyer. Marcus & Millichap’s James Markel helped close the deal. Elliott says the team fielded several bids from prospective buyers across the country.
The Mele Group of Marcus & Millichap Arranges the Sale of a 53,425-Square Foot Self-Storage Facility
STOCKTON, CA, September 19, 2017- Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Stockton Self Storage, a 53,425-square foot self-storage facility located in Stockton, CA, according to Ari Ravi, regional manager of the firm's Tampa office.
Sold! Weekly Self-Storage Acquisition Round Up 9.6.17
A two-property self-storage portfolio in Apache Junction, AZ, has changed hands. Brokers at Marcus & Millichap handled the sale of the 608-unit portfolio, which features 86,963 rentable square feet. A private investor bought the portfolio from another private investor. The two properties, which are within a mile of each other, are at 1678 Superstition Blvd. and 1735 W. Apache Trail. Marcus & Millichap’s Michael Mele and Luke Elliott in Tampa, FL; Devin Beasley in Phoenix, AZ; and Daniel Kuchugurny in Sacramento, CA, marketed the property on behalf of the seller. Kuchugurny and Sacramento colleague Edward Nelson brought the buyer to the table. Brian Tranetzki, a Marcus & Millichap broker in Phoenix, helped close the deal.
Phoenix-Area Self-Storage Assets Find Out-of-State Owner
The Mele Group of Marcus & Millichap facilitated the sale of Ironwood and Strongbox—two self-storage facilities in Apache Junction, Ariz., comprising 608 units—to a buyer based outside of Arizona. Specialists in the firm’s Phoenix, Tampa and Sacramento offices brokered the transaction. Prior to the deal, the Apache Junction self-storage portfolio belonged to an out-of-state private investor.