DENVER, CO | 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 A-AAA Key Mini Storage Portfolio, a two property self-storage portfolio located in New Orleans and Oklahoma City. The assets have a total of 837 units and almost 90,000 net rentable square feet.
Charles “Chico” LeClaire, Executive Managing Director Investments, and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver, Colorado office, had the exclusive listing to market the property on behalf of the Seller, a private Texas owner with properties throughout the United States. The Buyer was a national self storage owner, Merit Hill Capital, based in New York with 130 properties in 30 states after these acquisitions. “This was a seamless trade because The LeClaire – Schlosser Group has successfully brokered other transactions between these same two entities in the past,” LeClaire said. “The Buyer was able to acquire two well performing assets in two major metropolitan areas while the Seller will use the proceeds to acquire assets in their core markets.”
“This was a seamless trade because The LeClaire – Schlosser Group has successfully brokered other transactions between these same two entities in the past. The Buyer was able to acquire two well performing assets in two major metropolitan areas while the Seller will use the proceeds to acquire assets in their core markets.”
Both properties are in excellent locations with prominent visibility. A-AAA Key Mini Storage in Oklahoma City, located at 4317 NW 39th Street, is a 433-unit facility with units ranging in size from 50 to 450 square feet for a total of 50,550 net rentable square feet. A-AAA Key Mini Storage New Orleans is located less than 10 miles west of downtown New Orleans, at 5104 Jefferson Highway, in the infill suburb of Harahan, Louisiana. The property is a 402-unit, single-story, climate and non-climate controlled facility with units ranging in size from 25 to 300 square feet for a total of 39,150 rentable square feet.
