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 CubeSmart (Managed), a 48,450 square foot self-storage property located in Ridgecrest, 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 development group out of Alabama.  “This recently converted CubeSmart has shown impressive lease-up activity. The successful execution of this trade in current market conditions speaks to the resilience and expertise of both seller and buyer.” said Trammell. The Buyer was also secured by Trammell and Schlosser. Jim Markel, First Vice President and Regional Manager of the firm’s Encino, Bakersfield, Fresno, and Ventura offices, served as the broker of record.

“This recently converted CubeSmart has shown impressive lease-up activity. The successful execution of this trade in current market conditions speaks to the resilience and expertise of both seller and buyer.”

Converted from a Walmart Center in 2022, this Class “A” facility offers 457 first floor climate-controlled units and is the only REIT-managed property in the trade area. The facility is located at 909 South China Lake Boulevard.