SALT LAKE CITY, UT | 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 Secure Storage Tremonton, a fully occupied, 119 unit facility located in Tremonton, Utah.
Jordan Farrer, Investment Associate in Marcus & Millichap’s Salt Lake City, Utah office, and Adam Schlosser, First Vice President Investments in Marcus & Millichap’s Denver, Colorado office, had the exclusive listing to market the property on behalf of the seller, a local family that had developed and held the property. “This transaction shows a continued investor appetite for quality assets, even those located in secondary or tertiary markets.” Farrer continued, “The property garnered interest from local and regional buyers, with the final buyer coming from a Salt Lake City investor.” Jordan Farrer and Adam Schlosser of Marcus & Millichap also represented the buyer in this transaction.
Secure Storage consists of 119 units ranging in size from 5×14 to 19×38, with the majority of the units being 10×10, 12×15, and 10×20. Building started in 2002 with the majority of buildings constructed in 2009, the property features a fully fenced, electronic gate allowing users extended access. The driveways are paved and each unit has drive-up access, steel sloped roofs, roll-up doors, and concrete floors. The facility is visible from the I-15 and two minutes from the off-ramp. Located adjacent to the Box Elder County Fairgrounds, one of the main attractions to Tremonton. Currently, the facility operates at 100% occupancy.