ENCINO, CA | 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 Lake Elsinore Mini Storage, a 82,734 square foot storage facility located in Lake Elsinore, California.
Keith Phillips, Investment Associate, in Marcus & Millichap’s Encino, California office, and Adam Schlosser, Senior Vice President Investments, in the firm’s Denver, Colorado office, had the exclusive listing to market the property on behalf of the Seller, a California-based LLC. “Lake Elsinore Mini Storage has been owner-operated since 1987. After a long commercial real estate career with numerous holdings, the ownership has decided to move into less-managed assets and enjoy a well-earned retirement,” said Phillips. The Buyer is a national REIT.
“Lake Elsinore Mini Storage has been owner-operated since 1987. After a long commercial real estate career with numerous holdings, the ownership has decided to move into less-managed assets and enjoy a well-earned retirement.”
Lake Elsinore Mini Storage consists of 609 units in a prime self-storage location situated between three heavily traveled thoroughfares with vehicle totals exceeding 155K per day and in close proximity to The Home Depot, Target and the Outlets at Lake Elsinore. The facility features security cameras with security monitor feed, perimeter fencing, digital gate access, and on-site managers quarters.
