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 TK Secure Storage, a 24,276 square foot storage facility located in Tremonton, Utah.
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 represented the Seller, a local LLC. “We sold this asset to the seller just under two years ago knowing that with their management structure they would be able to significantly improve the property’s performance. They entrusted us with the listing, and we were able to conduct a competitive bidding process that ultimately achieved a price above list. The buyer was able to take advantage of historically low rates that will allow them to pay top dollar and still hit their return goals.” The Buyer was also procured by Farrer and Schlosser. For more deal information, please contact Jordan Farrer.
“They entrusted us with the listing, and we were able to conduct a competitive bidding process that ultimately achieved a price above list.”
TK Secure Storage consists of 24,276 net rentable square feet on approximately 1.34 acres. Phase One opened in 1992 with two small buildings and the remainder of the facility opened in 2009. The property is highly visible from 1000 West and 600 North which combined serve over 6,000 cars a day. The facility features best in class amenities including, but not limited to, individually coded access, paved drives, onsite manager’s office, professional leasing office, and digital video surveillance.
