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 Riverton Self Storage, a 43,300 square foot storage facility located in Riverton, Utah.

Jordan Farrer, First Vice President of Investments, in the firm’s Salt Lake City office, and Adam Schlosser, Senior Managing Director, in the firm’s Denver office, represented the seller, a Utah-based professional real estate investment company. “The seller reached out with a desire to move the capital from storage into their core product types of retail and multifamily development. The property is in one of the fastest growing regions of the Salt Lake Metro at 13400 South,” said Farrer. “A few years ago, I sold a property in the market to Public Storage, and knew they were one of the few groups still aggressively pursuing new opportunities. Public Storage saw the opportunity and closed quickly.” Marcus & Millichap also procured the buyer, Public Storage.

“The seller reached out with a desire to move the capital from storage into their core product types of retail and multifamily development. The property is in one of the fastest growing regions of the Salt Lake Metro at 13400 South. A few years ago, I sold a property in the market to Public Storage, and knew they were one of the few groups still aggressively pursuing new opportunities. Public Storage saw the opportunity and closed quickly.”

Riverton Self Storage is located at 4258 13400 South in Riverton and features 245 non-climate-controlled units and 55 climate-controlled units. The facility has a professional leasing office with an on-site manager’s apartment, digital video surveillance, and drive-up and interior hallway units.