DENVER, CO | 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 Self Storage (Managed), a 40,050 square foot storage facility located in Broomfield, Colorado, a suburb of Denver.
Charles “Chico” LeClaire, Executive Managing Director Investments, and Adam Schlosser, Senior 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 owner whose family built the facility in 1980 and expanded it in 1995. The family will use the proceeds for other ventures and wanted to take advantage of the competitive self-storage market. “The property was in excellent condition for it’s age and is located just off Highway 287, the main North/South Highway in Broomfield. The buyer, a private equity fund based in Arizona, got a fully leased infill location that will need little improvement to keep it in its excellent market position.”
“The property was in excellent condition for it’s age and is located just off Highway 287, the main North/South Highway in Broomfield. The buyer, a private equity fund based in Arizona, got a fully leased infill location that will need little improvement to keep it in its excellent market position.”
CubeSmart Self Storage (Managed) consists of 359 units in a fortress style layout with first floor access across the entirety of the store. There are 189,000 people and 75,000 households within the trade area with forecasted population growth of 7% over the next five years.
