DENVER, Colorado | 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 Caboose Storage, a 29,510 square foot self-storage facility located in Parachute, Colorado.

Thomas Parsons, Senior Director Investments, and Adam Schlosser, Senior 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.  “The entire mountain corridor between Denver and Grand Junction continues to be a desirable place for self-storage buyers because of the strong existing rents and barriers to entry limiting new competitors,” said Parsons. “Buyer activity has picked up this fall because of the interest rate relief combined with positive trends for rent growth and occupancy.” The buyer was Ludlow Property Group, a Colorado-based self-storage investment group purchasing their 16th facility.

“The entire mountain corridor between Denver and Grand Junction continues to be a desirable place for self-storage buyers because of the strong existing rents and barriers to entry limiting new competitors. Buyer activity has picked up this fall because of the interest rate relief combined with positive trends for rent growth and occupancy.”

Caboose Storage is a 328-unit self-storage facility located in Parachute, Colorado. The property sits on around 3.66 acres of land and contains seven single-story self-storage buildings with drive-up units. The facility has many amenities including a gated entry with a digital keypad (at annex), an onsite management residence and office at the main location, video cameras throughout the facility, and units with roll-up doors. The facility is also known as Parachute Mini-Storage and Home Space Storage.

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