DENVER, CO | 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 Life Storage, a newly constructed 64,320 square foot storage facility located in Arvada, Colorado.
Adam Schlosser, First Vice President Investments and Charles “Chico” LeClaire, Executive Managing Director Investments, in Marcus & Millichap’s Denver, Colorado office, had the exclusive listing to market the property on behalf of the Seller, a local LLC. “Lease up and CofO transactions are still working for buyers and sellers under the right conditions,” says Schlosser. “We know that the Denver MSA is currently working through an influx of new competition but based on the response received on this deal, the investment community still really likes it long.”
Life Storage is a 637 climate controlled unit facility located in a high growth area of Arvada, Colorado. This is a brand-new class “A” facility that opened in January of 2018. This state-of-the-art facility offered a spacious leasing office, multiple elevators, two unique covered drive-in loading/unloading areas (bays), spacious drives for large vehicles, and 24-hour video surveillance.
The property is just two miles south of Leyden Rock and Candelas, two large-scale new home communities that are contributing to the significant growth in the immediate area. Leyden Rock spans 1,033 acres and will feature 1,439 new homes. Candelas, once completed, will have 1,450 single family homes, 785 multifamily units and several million square feet of retail and commercial space.