ENCINO, CA | 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 VIP Self Storage, a 23,620 square foot storage facility located in El Cajon, California.
Keith Phillips, Senior Investment Associate, in Marcus & Millichap’s Encino, California office, and Charles “Chico” LeClaire, Executive Managing Director Investments, in the firm’s Denver, Colorado office, had the exclusive listing to market the property on behalf of the Seller, a California-based Partnership that has owned the asset for over 25 years. “It is the right time for them to sell, take their proceeds and move on,” said Phillips. The Buyer is a real estate investment firm that operates nationwide.
“It is the right time for them to sell, take their proceeds and move on.”
VIP Self Storage consists of 376 non-climate controlled units in a rare San Diego area facility located off of Magnolia Avenue in an established prime Southern California market. The facility sits in a retail corridor near Gillespie Field and major retailers include Home Depot, Food 4 Less, Target, Costco and Starbucks.