JUNCTION CITY, KS | Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the closing of Neighborhood Storage, a 29,816-square foot self-storage located in Junction City, Kansas.
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 Buyer. “Our client had entered into an exchange and was searching for higher yield storage properties. Traditionally a buyer in the Intermountain West, we brought them a deal in Kansas with strong occupancy, revenue growth, and much higher cap rates than they found in local markets.” For more deal information, please contact Jordan Farrer.
“Our client had entered into an exchange and was searching for higher yield storage properties. Traditionally a buyer in the Intermountain West, we brought them a deal in Kansas with strong occupancy, revenue growth, and much higher cap rates than they found in local markets.”
Neighborhood Storage is located at 1120 South Madison Street in Junction City, Kansas. The property was constructed in phases in 2011 and 2013 and features a mix of exterior, drive-up and interior hallway, climate-controlled units, concrete drive aisles, professional leasing office, electronic keypad access and video surveillance. The seller was represented by Christopher Secreto and Samuel Olsen of Marcus and Millichap’s Seattle Office.
