BOISE, ID | The LeClaire 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 Kuna Self Storage, a 23,742 square foot storage facility located in Kuna, Idaho within the Boise MSA.
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 in cooperation with Paul Ryan, a Senior Investment Associate in Marcus & Millichap’s Boise, Idaho office, had the exclusive listing to market the property on behalf of the Seller, Messmer Properties Inc. “This was a fun transaction; we are able to get multiple offers in the first week of marketing and structure a deal that accomplished both the buyer’s and seller’s goals. Kuna Self Storage is further evidence that investors are willing to leave their target markets and enter secondary markets in search of yield and value-add opportunities,” said Jordan Farrer. For complete deal information please contact Jordan Farrer.
Kuna Self Storage consists of 166 non-climate controlled units and 15 rentable outdoor parking spaces. The property has been well maintained, is fully fenced, and equipped with security monitoring systems and an onsite manager’s office. Treasure Valley has been one of the fastest growing MSAs in the United States. In 2018, employment grew by 3.58% and home prices grew by over 11% which was the fourth highest in the nation. Kuna is located ten minutes from Nampa and twenty minutes from Boise, placing it in the path of growth for both communities. The broker of record was Paul Ryan, license #DB39666, at (208) 401-9321.