SALT LAKE CITY, UT | 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), a 46,700 square foot storage facility located in West Haven, 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 development company. Jordan Farrer had this to say about the deal, “Extra Space West Haven highlights the flight to quality and stability in today’s market. The property was built in 2020, meticulously maintained, and is operating near the top of a growing market. Our team is grateful to the sellers for trusting us to execute their plan, and we’re excited for the buyer as they expand their footprint in Northern Utah.”
Marcus & Millichap also procured the buyer, ACD, a Denver-based commercial real estate investment firm operating a portfolio of self-storage assets throughout the Intermountain West. ACD will assume management of the facility under its in-house banner, BriteLock Storage, which emphasizes hands-on operations, dynamic pricing, and tech-enabled tenant service. “The West Haven location is exactly the type of asset we target – well-built, well-located, and a great fit for our Intermountain portfolio,” said Bryan Armstrong, Managing Partner at ACD. “We appreciate the Marcus & Millichap team for a smooth process and look forward to bringing this facility under BriteLock management.”
“The West Haven location is exactly the type of asset we target – well-built, well-located, and a great fit for our Intermountain portfolio. We appreciate the Marcus & Millichap team for a smooth process and look forward to bringing this facility under BriteLock management.”
Extra Space (Managed) sits on approximately 2.61 acres of land, was initially constructed in 2020, and contains nine single-story self-storage buildings with 250 drive-up units and 176 climate-controlled units. The property 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.
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