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, today announced the sale of StorageBay Rexburg, a 12,652 square foot storage facility located in Rexburg, Idaho.
Jordan Farrer, Investment Associate, in the firm’s Salt Lake City office and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver office procured the Buyer. “Through a number of conversations with the owners, we knew the family was looking to move on from the property and the price they were looking to achieve. We were able to connect with a new client and help them through the acquisition as they expand their portfolio into the self-storage sector. The property was previously owner-managed out of state and the Buyer will capitalize on management opportunities to drive the returns of the property.” The Buyer was procured by Farrer and Schlosser. Paul Ryan was the broker of record. For more deal information, please contact Jordan Farrer.
“The property was previously owner-managed out of state and the Buyer will capitalize on management opportunities to drive the returns of the property.”
StorageBay Rexburg consists of 12,652 net rentable square feet, 167 units, on approximately 0.83 acres. The facility was built in 2008 and features best in class construction and amenities. The property is the closest storage facility to the campus of BYU-I, a four-year university with enrollment of over 25,000 students, making the facility the preferred and most convenient storage for college students.