LAYTON, 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 Storage General – Layton, a 86,105 square foot storage facility located in Layton, Utah.
Jordan Farrer, Senior Investment Associate, in the firm’s Salt Lake City office and Adam Schlosser of the firm’s Denver office represented the Seller, a local investment and development group. “The property is located in a competitive market, the operator had fought to gain occupancy and looked to sell once they approached stabilization. Given the high-quality construction, and great location, the bidding process was competitive and ended up going to a REIT buyer,” said Farrer. The Buyer was also procured by Marcus & Millichap.
“The property is located in a competitive market, the operator had fought to gain occupancy and looked to sell once they approached stabilization. Given the high-quality construction, and great location, the bidding process was competitive and ended up going to a REIT buyer.”
Storage General – Layton consists of eleven stand-alone single-story buildings, featuring interior, drive-up, climate-controlled, and traditional units with roll-up doors. Highly visible, digital, pylon signage on nearly 300 feet of frontage. The facility has cinderblock front dividers with all metal interior walls, slightly pitched standing seam metal roofs, roll-up doors, and driveways. The property is located on the highly visible Antelope Drive, the main East to West Road in Layton. Within a three-mile radius, there are seventy-six multifamily properties and over 7,500 apartment units. Less than two miles from Hill Air Force Base, the Air Force’s second largest base, employs 27,000 active-duty contractors, and private personnel.
