DENVER, CO | 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 84,235 square foot storage facility located in Englewood, Colorado, a suburb of Denver.
Adam Schlosser, Senior Vice President Investments, and Charles “Chico” LeClaire, Executive Managing Director Investments, in Marcus & Millichap’s Denver, Colorado office had the exclusive listing to market the property on behalf of the Seller, a private limited liability company. “We continue to experience great operational momentum across the Denver MSA as the market rebounds from a very robust development cycle,” says Schlosser. “There’s still substantial runway left on rental rates and occupancy coming into the new year and beyond that will bolster evaluations up even higher across the state of Colorado.” The Buyer was a self storage real estate investment trust.
“We continue to experience great operational momentum across the Denver MSA as the market rebounds from a very robust development cycle. There’s still substantial runway left on rental rates and occupancy coming into the new year and beyond that will bolster evaluations up even higher across the state of Colorado.”
Extra Space Storage (Managed) consists of over 917 units in a prime infill location in the desirable Denver Tech Center along the heavily traveled 1-25 corridor right next to Colorado’s largest shopping mall. It maintains visibility from County Line Road and I-25 with a combined car count of over 220K. This three-story fully climate-controlled class “A” facility with basement features brick masonry exteriors with stucco accents as well as premium finishes on the interior.
