BALTIMORE, MD | 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, announced today the closing of Extra Space Storage (Managed), a 103,467 net-rentable square foot self-storage facility located in Windsor Mill, Maryland.
Ian Lindahl, Investment Associate, and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver office had the exclusive listing to market the property on behalf of the Seller, a Baltimore-based regional developer. “It was a great opportunity for the buyer to increase their national portfolio with a flagship Class A facility in a greater Baltimore area. The Seller took advantage of the strong storage market to sell his project at a great time of the current cycle,” said Lindahl. Jake Ramage of Snapbox, purchaser, added, “Snapbox is excited to expand our footprint in the Mid-Atlantic with another facility in Maryland which we plan to rebrand as Snapbox Self Storage. We look forward to executing our business plan and are appreciative of working with a great seller and brokerage team who were instrumental in getting the deal over the finish line.”
“It was a great opportunity for the buyer to increase their national portfolio with a flagship Class A facility in a greater Baltimore area. The Seller took advantage of the strong storage market to sell his project at a great time of the current cycle.”
Extra Space Storage (Managed) is located 1.5 miles off major beltway I-695. The facility has a large pull through interior drive aisle with 14-foot clearance and wide-drive aisles to accommodate large moving trucks. It features entirely climate-controlled storage with exceptional security features. The trade area has approximately 105,000 people, 42,000 households, and an average household income of $67,000within three miles.