SALT LAKE CITY, UT | The LeClaire-Schlosser Group of 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 Set Storage, a 44,126 square foot storage facility located in Brigham City, Utah, approximately 45 minutes north of Salt Lake City.
Jordan Farrer, Investment Associate, in the firm’s Salt Lake City office and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver office had the exclusive listing to market the property on behalf of the Seller, a private lending group based in Utah. “This transaction tested all parties involved as we entered into a purchase agreement right before the onset of the COVID-19 pandemic, which limited our financing options in April and May. We were able to bring Marcus & Millichap Capital Corporation’s Director Colton Smith, who was able to source very favorable financing and help the Buyer close. The Seller was great to work with and patient as we all navigated through the unknowns of a global health pandemic, and ultimately help them sell the property and provide favorable returns to their investors.” The Buyer was also procured by Farrer and Schlosser. For complete deal information, please contact Jordan Farrer.
Set Storage features two locations approximately ¼ mile apart with 185 rentable spaces. The facility construction was built in two phases in 1972 and 1985 with standing seam metal roofs, steel buildings, metal dividers, asphalt, and gravel drives. Unit sizes range from approximately 50 square feet up to 675 square feet with extremely wide drives to accommodate boat, RV, or oversized trailer storage. The main location is fully fenced and gated with keypad access, under 24-hour video surveillance, and all units are accessible via drive up.