PHOENIX, AZ | 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 (Managed) Portfolio, a two property self storage portfolio with facilities located in Scottsdale and Chandler, Arizona. Built in 2018, the facilities feature class “A” construction and amenities spanning 176,610 net rentable square feet across multiple levels.
Charles “Chico” LeClaire, Executive Managing Director Investments, and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver, Colorado office, and Ryan Sarbinoff, Vice President, in the firm’s Phoenix, Arizona office, had the exclusive listing to market the property on behalf of the seller, a joint venture between Vintage Partners, LLC and Blue Vista Capital Management. “We felt we could maximize value on these newer assets given their best-in-class design, lease up momentum and locations,” said Schlosser. “The response we’ve received on this deal as well as others across the country in recent months speaks to the continued confidence investors have in an asset class that has fared quite well despite the recent economic disruption.” The buyer was Public Storage, a California based REIT who is the largest owner operator of self storage facilities in the world. The buyer was also secured by LeClaire and Schlosser.
“The response we’ve received on this deal as well as others across the country in recent months speaks to the continued confidence investors have in an asset class that has fared quite well despite the recent economic disruption.”
The Extra Space Storage (Managed) Portfolio has locations at 1650 North Pima Road in Scottsdale, and 2090 South Dobson Road in Chandler. For additional info please reach out to [email protected].
