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-1 Personal Storage, a 12,400 square foot storage facility located in Longmont, Colorado.
Thomas Parsons, Senior Investments Associate, 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. “There is an onsite managers apartment which is unique for the size of the facility, but it helped increase the value because it lowers operating costs. The self storage industry has been hardly affected by COVID which is helping drive demand from buyers for cash flowing self storage investments. This facility had its best year ever in 2020 and we received eight offers for the seller,” says Thomas Parsons, listing broker. The Buyer is a local real estate investor buying their first storage facility.
“This facility had its best year ever in 2020 and we received eight offers for the seller.”
A-1 Personal Storage consists of 90 non-climate controlled units. The buildings’ sturdy masonry construction is original while the rubber membrane roofs were replaced in 2016. Drive aisles and parking surfaces are all concrete. In the fall of 2020 the seller re-painted and replaced the carpet in the on-site managers apartment. Longmont is located between the growing cities of Denver, Boulder, and Loveland. Within three-miles of the facility, the population is 65,441 and average household income is a strong $105,231. It is located just 1,000 feet off Kenn Pratt Boulevard which is the main road through Longmont with about 32,000 cars per day.