Extra Space (Managed) in Salt Lake City, Utah

overview video

investment highlights

PRIME SALT LAKE CITY LOCATION // Located in the heart of Salt Lake City, just east of I-15 on State Street, this property boasts high visibility with a daily traffic count of 32,755.
PROFESSIONALLY MANAGED BY EXTRA SPACE // Since transitioning to Extra Space Management in 2020, the property has benefited from their ECRI program, achieving impressive occupancy rates of 93 percent as of August, while simultaneously growing revenue.
COMPETITIVE RENTAL RATES // The strategic location and effective marketing strategies have positioned the property as a market leader in rental rates, currently achieving over $19.49 per square foot (August 2024).
STRONG DEMOGRAPHICS // Within a three-mile radius, the property serves a population of 153,047 with 64,633 households and an average household income of $80,095. Additionally, the area is experiencing increased density, with 4,728 apartments within one mile and another 688 units currently in development or planning.

property summary

Extra Space (Managed) is a 485-unit, 39,200 net rentable square foot self-storage facility located in Salt Lake City, Utah. The property sits on around 1.65 acres of land, was initially constructed in 1985, and contains five single-story self-storage buildings, two two-story buildings with drive-up, interior, and elevator access for units.

Extra Space (Managed) has many amenities including an electronic gated entry with a digital keypad, an institutional-style leasing office with retail and security monitor display, 24/7 video surveillance throughout the facility, concrete driveways, and metal roll-up doors throughout.

The facility is centrally located in Salt Lake City with excellent visibility from State Street and over 32,755 passing vehicles per day. Extra Space (Managed) Salt Lake City represents the first opportunity in the last decade, or more, to acquire a REIT-managed self-storage facility in Salt Lake City on the desirable east side of I-15.

Broker Information

Jordan Farrer

First Vice President

Phone: 801.736.2643
Email: jfarrer@marcusmillichap.com
License: UT 9220604-SA00

Adam Schlosser

Senior Managing Director

Phone: 303.328.2044
Email: aschlosser@marcusmillichap.com
License: CO FA100050407

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CONFIDENTIALITY AGREEMENT

THIS CONFIDENTIALITY AGREEMENT (“Agreement”) is made and agreed to by and between The LeClaire-Schlosser Group and Marcus & Millichap Real Estate Investment Services of Denver (“Broker”), exclusive listing broker for the Property, and “Buyer” regarding the property known as EXTRA SPACE (MANAGED) - SALT LAKE CITY. The obligations of confidentiality undertaken pursuant to this Agreement shall survive the terms of the Broker’s listing agreement with the Owners.

BUYER HAS REQUESTED information from Broker for the purpose of evaluating a possible acquisition of the Property. Much of the information to be provided is non-public, highly confidential and/or proprietary in nature (collectively “Information”) and is being disseminated only to those potential buyers who sign this agreement.

THE PARTIES AGREE, in consideration of the covenants and agreements contained herein, as follows:
1. Non-disclosure of Information: Buyer will not disclose, permit the disclosure of, release, disseminate or transfer any of the Information obtained from Broker or Owner to any other person or entity except as permitted herein. If Buyer is a corporation, partnership, limited liability company, investment trust, or other non-natural legal entity, the person(s) signing this Agreement on its behalf will take all appropriate precautions to limit the dissemination of the Information only to those persons within the entity who need to know the Information, and who are specifically aware of the Agreement and agree to be bound by it.
2. This Agreement applies to all Information about the Property received from Broker or Owner, now or in the future, which is not readily available to the general public. Buyer understands that all Information shall be deemed confidential, valuable and proprietary such that its unauthorized disclosure, even without intent to harm, could cause substantial and irreparable harm to Owner and Broker.
3. All Information shall be used for the sole purpose of evaluating the potential acquisition of the Property and shall not at any time or in any manner be used for any other purpose.
4. Buyer shall not contact directly any persons concerning the Property, other than Broker, without Broker’s or Owner’s written permission. Such persons include, without limitation, Owner’s employees, suppliers and tenants.
5. Buyer and Buyer’s Broker acknowledge there is no co-op fee being paid.
6. Neither Broker nor Owner make any representations or warranty, express or implied, as to the accuracy or completeness of any Information provided by them. Buyer assumes full and complete responsibility for confirmation and verification of all Information received and expressly waives all rights of recourse against Owner and Broker with respect to the same.
7. The persons signing on behalf of Buyer and Broker represent that they have the authority to bind the party for whom they sign.
8. This agreement shall be governed and construed in accordance with the laws of the State of Colorado.
9. Return of Documents: Upon review of Information provided, if Buyer no longer has an interest and does not wish to pursue negotiations leading to this acquisition, Buyer agrees to return in a timely fashion all Information provided in its original form to Charles D. LeClaire and/or Adam Schlosser, if requested. Photocopying or other duplication is strictly prohibited.
10. In the event any party breaches its obligations under this Agreement, the prevailing party (parties), in any lawsuit brought to enforce the provisions of this Agreement, shall be entitled to reasonable attorney’s fees and costs in addition to all other remedies available to it.

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Contact The LeClaire-Schlosser Group

Extra Space (Managed) in Salt Lake City, Utah

Property Location

3947 South State Street
Salt Lake City, UT 84107

overview video

investment highlights

property summary

Broker Information

Jordan Farrer

Adam Schlosser

CONFIDENTIALITY AGREEMENT

We're here for you. Let us know how we can help.

Extra Space (Managed) in Salt Lake City, Utah

Property Location

3947 South State Street Salt Lake City, UT 84107

overview video

investment highlights

property summary

Broker Information

Jordan Farrer

Adam Schlosser

Download Marketing Package

CONFIDENTIALITY AGREEMENT

We're here for you. Let us know how we can help.

3947 South State Street
Salt Lake City, UT 84107