LAS VEGAS, Nevada | 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 Public Storage (Managed), a 89,925 net rentable square foot self-storage facility located in Las Vegas, Nevada.
Ian Lindahl, Director Investments, in Marcus & Millichap’s Denver office and Jordan Farrer, Managing Director Investments, in the firm’s Salt Lake City office, represented the seller, a national developer. Jordan Farrer had this to add about the deal, “The seller team executed on a true Class A build. This asset represents one of the premier storage properties in the Las Vegas market. The buyer will capitalize on strong demographics, exceptional visibility, and the ability to see the property through stabilization.” The buyer is an out-of-state family office.
“The seller team executed on a true Class A build. This asset represents one of the premier storage properties in the Las Vegas market. The buyer will capitalize on strong demographics, exceptional visibility, and the ability to see the property through stabilization.”
Public Storage (Managed) is a premier self-storage facility in Northwest Las Vegas comprised of 906 units and impeccably designed by Magellan Architecture and built by ARCO Murray. Situated on approximately 2.56 acres, the property was constructed in June 2024 and has achieved an impressive lease-up rate exceeding 65 percent within 12 full months since opening. The facility features a single three-story building, offering exclusively climate-controlled storage units. This professionally managed Public Storage facility is equipped with state-of-the-art amenities, including electronic gated access with digital keypad entry, a spacious institutional-style leasing office featuring retail displays and security monitoring systems, 24/7 video surveillance across the premises, paved driveways, and durable metal roll-up doors. Additionally, a three-vehicle garage at the west loading area provides shelter from the elements during Las Vegas’s warmer months.
