SAN FRANCISCO, CA | The LeClaire-Schlosser 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 AllStore Center Self Storage, a 69,437 square foot storage facility located in South San Francisco, California.
Dean Trammell, Investment Associate, in Marcus & Millichap’s San Francisco office, and Adam Schlosser, Senior Managing Director, in the firm’s Denver office, represented the seller, a local private investor. “This was a rare trade along the San Francisco Peninsula in a supply-constrained, high-barrier-to-entry market. Opportunities like this are few and far between and closing in today’s environment speaks volumes about the commitment and alignment from both buyer and seller,” said Trammell. Schlosser added, “We were able to execute this trade on a condensed timeline with a favorable outcome. Investor appetite for core infill assets remains elevated.” Marcus & Millichap also procured the buyer, Baranof Holdings, based out of Dallas, TX, for this transaction. Ramon Kochavi, First Vice President and District Manager of the firm’s Northern California offices, served as the broker of record.
“This was a rare trade along the San Francisco Peninsula in a supply-constrained, high-barrier-to-entry market. Opportunities like this are few and far between and closing in today’s environment speaks volumes about the commitment and alignment from both buyer and seller. We were able to execute this trade on a condensed timeline with a favorable outcome. Investor appetite for core infill assets remains elevated.”
AllStore Center Self Storage is a 710-unit self-storage facility located in South San Francisco, California. The property sits on around 3.81 acres of land and was initially constructed in 1997. It contains three two-story buildings with 527 interior units and nine single-story self-storage buildings with 148 drive-up units as well as 35 parking spaces. AllStore Center Self Storage has many amenities including electronic gated entry with a digital keypad, a large institutional style leasing office with retail and security monitor display, 24/7 video surveillance throughout the facility, concrete driveways, and metal roll-up doors throughout.
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