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 South Bank Secure Storage, a 60,020 square foot self storage facility located in Rifle, Colorado.
Adam Schlosser, Senior 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 private owner. “The mountain towns continue to be a desirable option for self storage investors looking to diversify away from the major metropolitan markets,” says Schlosser. “The little markets often fly under the radar but produce great yields.”
South Bank has a total of 376 storage units and 218 outdoor parking spaces. The property was recently expanded in 2018 with the acquisition of a 2.16-acre parcel across the street to accommodate additional RV parking. South Bank Secure Storage is the highest quality facility in the area featuring a wide range of storage options and a significant amount of outdoor parking. The property features a large leasing office with a security monitor display, paved asphalt drives throughout, full perimeter fencing with electronic gate access and a 1,600 square foot, three-bedroom on-site managers apartment. These amenities differentiate South Bank from many of the local competitors, of which some have less sophisticated operations. South Bank also offers 15×30 units that are heated and insulated and features a solar panel system that offsets the property’s electricity bill and generates a small check every month.