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, announced the sale of Wrondel Self Storage, a 412-unit self-storage facility in Reno, Nevada.
Jordan Farrer, Managing Director Investments, of the LeClaire-Schlosser Group represented the seller in the transaction, with Cameron Glinton serving as Nevada broker of record. “Wrondel Self Storage sits in one of the most densely populated, and growing, pockets of Reno, with more than 100,000 residents within three miles and over 25,000 vehicles a day passing on South Virginia Street,” said Jordan Farrer. “The property has held an average occupancy of 85 percent since 2024 and was 88 percent occupied at the time of sale. The buyer plans to upgrade the facility with a new office and addition of climate-controlled space, which is undersupplied in the region.” The buyer, an experienced national self-storage owner and developer, was also procured by Marcus & Millichap.
“Wrondel Self Storage sits in one of the most densely populated, and growing, pockets of Reno, with more than 100,000 residents within three miles and over 25,000 vehicles a day passing on South Virginia Street. The property has held an average occupancy of 85 percent since 2024 and was 88 percent occupied at the time of sale. The buyer plans to upgrade the facility with a new office and addition of climate-controlled space, which is undersupplied in the region.”
Built in phases in 1975, 1997, and 2012 on approximately 2.56 acres, Wrondel Self Storage comprises 412 units totaling 51,200 net rentable square feet across four single-story buildings of drive-up units. The property was approximately 88 percent occupied at the time of sale, with average occupancy of 85 percent since 2024 and historical average rents of $1.23 per net rentable square foot. The facility features gated entry with a digital keypad, a separate onsite management office in front of the entrance gate, 24/7 video surveillance throughout, concrete driveways, and units with roll-up doors.
