April 27, 2016

Marcus and Millichap Sells $11.35 Million Extra Space Storage Facility

CENTENNIAL, CO | Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has arranged the sale of Extra Space Storage, a 533-unit self-storage facility in Centennial, Colorado. The asset sold for $11.35 million.

“The sale of Extra Space Storage presented investors with the opportunity to acquire a Class A facility in a prominent Denver Suburb,” says Adam Schlosser, vice president investments in Marcus & Millichap’s Denver office. “The property’s location, along with its exceptional quality, allows for the new investor to build on an already thriving and stable asset.”

Marcus & Millichap’s Schlosser, and Chico LeClaire, a senior vice president investments in Denver, along with Brett Hatcher, a vice president investments in Columbus, represented the seller and procured the buyer. Richard Bird, regional manager, is Marcus & Millichap’s broker of record in Colorado.

Extra Space Storage is located on 7059 South Kenton Street in Centennial, 16 miles southeast of downtown Denver. Built in 2009, the property is professionally maintained and features both drive-up and interior-access units, 507 climate-controlled units and 26 non-climate-controlled units. Amenities include, a digital surveillance system, perimeter fencing, a leasing office, and electronic gate access. Approximately 215,892 people live within a five-mile radius of the property.