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 Independence Self Storage, a 82,550 square foot storage facility located in Grantsville, Utah.
Jordan Farrer, Senior Investment Associate, in the firm’s Salt Lake City office, and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver office represented the Seller, a local family. “The family that developed and operated this property did an excellent job creating a best-in-market facility run very efficiently in a strong growth market,” says Farrer. “The Buyer will capitalize on the momentum the Sellers created and bring in a more sophisticated approach to operations while taking advantage of over 500 housing units in the development pipeline.” The Buyer was a national self-storage operator also procured by Jordan Farrer and Adam Schlosser.
“The Buyer will capitalize on the momentum the Sellers created and bring in a more sophisticated approach to operations while taking advantage of over 500 housing units in the development pipeline.”
Independence Self Storage consists of 540 units. Located with frontage on Highway 138 in Grantsville, Utah. The property features a full-service leasing office, surveillance cameras, on-site apartment, fire alarms, electronic security gates and online payment options.