ENCINO, 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 Emerald @ 78 Self Storage, a 94,625 square foot storage facility located in Vista, California.
Keith Phillips, Investment Associate, in Marcus & Millichap’s Encino, California office, and Adam Schlosser, Senior Vice President Investments, in the firm’s Denver, Colorado office, had the exclusive listing to market the property on behalf of the Seller, a California-based LLC that owned and operated the asset for close to 30 years. “Assets of this size, in this submarket, with this much upside do not trade often, so the buyer pool was understandably robust,” said Phillips. The Buyer is national operator.
“Assets of this size, in this submarket, with this much upside do not trade often, so the buyer pool was understandably robust.”
Emerald @ 78 Self Storage consists of 769 units located off the Highway 78 corridor and boasts 135,000 vehicles per day. The facility features a Vista 20 security system with fire sprinkler suppression, Quikstor Touchpad access, LED lights, and seven freight elevators positioned throughout the facility.