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 MAX Storage, a 148,040 square foot storage facility located in Hurricane, Utah.
Jordan Farrer, Senior Investment Associate, in the firm’s Salt Lake City office, and Adam Schlosser, Senior Managing Director Investments, in Marcus & Millichap’s Denver office represented the Seller, a local investment and development group. “To our knowledge and research, this is the largest single asset self-storage transaction ever for the state of Utah. The sellers had the vision to build a high-quality asset catering to the recreation lifestyle of Southern Utah and delivered with accelerated lease-up,” said Farrer. “The buyer will bring their expertise to improve operations, utilize the additional land, and bring the property to an institutional level.” The Buyer was also procured by Jordan Farrer and Adam Schlosser.
“To our knowledge and research, this is the largest single asset self-storage transaction ever for the state of Utah. The sellers had the vision to build a high-quality asset catering to the recreation lifestyle of Southern Utah and delivered with accelerated lease-up.”
MAX Storage consists of 971 units, on over 22 acres, and recently opened in July 2021. It was constructed with steel buildings, standing seam metal roofs, and wide drive aisles. It also features a large number of canopy and outdoor parking spots. The property is located between Washington and Hurricane, two of the fastest-growing communities in Southern Utah. Minutes from Sand Hollow and Quail Creek State Parks. Right of I-15 and Highway 9, both gateways to national and state parks.
