August 23, 2018

The LeClaire Group Sells Storage Nation of Smyrna at Certificate of Occupancy

NASHVILLE, TN | 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 Storage Nation of Smyrna, a ground-up storage development located approximately 17 miles southeast of downtown Nashville. The asset has 572 units and 84,060 net rentable square feet.

Charles “Chico” LeClaire, Executive Managing Director Investments, and Adam Schlosser, First Vice President Investments, both in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a private LLC.  “Despite growing headwinds in some markets, we continue to execute Certificate of Occupancy (CofO) trades with developers that know how to pick good sites,” says Schlosser.   The buyer, also secured by the LeClaire Group, is a national owner operator out of central Florida.  So far this year, The LeClaire Group has closed 37 self-storage properties.

The property consists of 392 climate controlled and 180 non-climate controlled units with an additional 17 covered boat and RV parking spaces. Storage Nation is the premier self-storage facility in Smyrna with state-of-the-art amenities including 24-hour video surveillance, electronic gate with keypad access, and eight foot high perimeter fencing.  The facility was built next to a “big box” Academy Sports + Outdoors retail store and a Lowe’s Home Improvement. Other national retailers and restaurants in the immediate area include The Home Depot, Kroger, Publix Super Market, Chick-fil-A, Verizon and Walgreens. There is also a 10-acre parcel adjacent to the facility currently being developed into an 85,000 square foot shopping center that will include retailers T.J. Maxx, Hobby Lobby and Five Below as tenants.

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