SALT LAKE CITY, Utah | 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 Extra Space Storage (Managed), a 63,345 square foot storage facility located in Hurricane, Utah.

Jordan Farrer, Senior Director Investments, in the firm’s Salt Lake City office, and Adam Schlosser, Senior Managing Director, in the firm’s Denver office represented the seller, a local self-storage owner and developer.  Jordan Farrer had this to add about the deal, “The seller executed a great plan of buying a tired storage facility, renovating, expanding, and moving it towards stabilization before exiting. This asset was completely renovated in 2024 with Phase 2 opening in 2025 and nearing 90 percent occupancy at the time of close.” The buyer is a Utah family office with an extensive history in self-storage development and diversified real estate holdings throughout the state.

“The seller executed a great plan of buying a tired storage facility, renovating, expanding, and moving it towards stabilization before exiting. This asset was completely renovated in 2024 with Phase 2 opening in 2025 and nearing 90 percent occupancy at the time of close.”

Extra Space (Managed) is a 589-unit self-storage facility located in Hurricane, Utah.  The property sits on around 3.27 acres of land, was initially constructed in 2007 (Phase One) and 2025 (Phase Two), and contains twelve single-story self-storage buildings with 328 drive-up units.  The facility has many amenities including a gated entry with a digital keypad, a separate onsite management office in front of the entrance gate, 24/7 video surveillance throughout the facility, asphalt driveways, and units with roll-up doors.

Also Appeared In // REBusiness Online, Inside Self-Storage