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 closing of a Class A self-storage facility in Utah through a creative master lease structure. At the ownership’s request, the property and the parties involved are not being identified.

Jordan Farrer, Managing Director Investments with the LeClaire-Schlosser Group, represented the ownership group in structuring and closing the transaction and procured the buyer. “In a market with uncertain rental demand, leasing trajectory, and rising interest rates, early-stage lease-up and C of O deals are challenging,” said Jordan Farrer, Managing Director Investments with the LeClaire-Schlosser Group. “A master lease structure let us get creative and deliver an outcome that worked for everyone at the table. The buyer can capitalize on the attractive in place financing while the developer is able to step away from the day-to-day demands of operations and burden of carrying property. Our team continues to look for win-win scenarios that position both buyer and seller for success in a turbulent market.”

Utah’s self-storage market continues to benefit from sustained population and job growth along the state’s fastest-growing corridors, supporting steady demand for well-located, institutional-quality facilities such as this one.