Sold! Olympia storage facility sells for $7.4 million

Bruce Goldberg
January 25, 2023

CBRE announced the sale of a self-storage facility named Capital City Storage in Olympia, WA for $7.4 million. It has 417 units spread across 43,304 square feet in 14 buildings. CBRE’s Self Storage Advisory Group represented the seller, TJY Properties LLC, a private investor. The buyer also is a private investor. Capitol City Storage neighbors include Frito-Lay Olympia and a Costco distribution facility that is under construction, plus the Tumwater Corporate Center is planned across the intersection.

Source: CBRE

Ryan Layton of AREA Commercial Real Estate announced the sale of Pleasant View Self Storage in Post Falls, ID. It has 182 steel framed storage units totaling 28,410 rentable square feet and is over 88% of capacity. The local buyer previously bought four facilities in the market. Layton is the Argus Self Storage Advisors broker affiliate covering Eastern Washington and Northern Idaho. Source: Argus Self Storage Advisors

A 1-acre corner lot at 1115 NW 46th St in Ballard, Seattle, WA has been sold for $6.5 million. The buyer plans to tear down Scott’s Trophy and a painting company, then replace them with an Extra Space Storage facility. The Ostergard family has owned the corner lot for decades. Source: My Ballard

Versal announced the sale of EZ Safe Storage, a self-storage facility at 1524 Crane St. in Schenectady, NY. It has 475 units and 50,286 NRSF, with a combination of inside and outside non-climate-controlled units and storage lockers. It is 95% occupied. Source: Versal

Marcus & Millichap

Marcus & Millichap announced the sale of Cambridge Mini Storage at 4801 W. Main St. in Norman, OK. It has 87,700 rentable square feet. Bryan Quaschnick, Brandon Karr and Danny Cunningham, of the firm’s Fort Worth, TX-based Karr-Cunningham Storage Team, had the listing and found the buyer, a private investment partnership in the Dallas-Fort Worth area. The seller is a Norman resident.

Marcus & Millichap also announced the sale of Snapbox Self Storage, a 32,720-square-foot facility in Noblesville, IN with two locations. It has 294 non-climate-controlled units. Nathan Coe, Brett R. Hatcher and Gabriel Coe had the listing. The seller is an LLC. Josh Caruana, Indiana broker of record, helped close the transaction.

In addition, Marcus & Millichap announced the sale of 25th Street Storage in Bellevue, NE. It has 324 non-climate-controlled units totaling 57,700 NRSF, as well as 92 outdoor parking spaces for rent. Nathan Coe, Brett R. Hatcher and Gabriel Coe had the listing. Jon Ruzicka, Nebraska broker of record, helped close the transaction. The seller is an LLC.

Marcus & Millichap announced the sale of Stor-A-Way Muncie, located at 206 W. Ontario Drive in Muncie, IN. It has 171 non-climate-controlled units spread across 26,594 rentable square feet. Jeffrey L. Herrmann and Sean M. Delaney had the listing and found the buyer. Josh Caruana, Indiana broker of record, helped close the transaction. The seller is an LLC in Marion, IN and the buyer is a Chicagoland-based LLC. There’s potential for expansion and climate-control implementation.

Marcus & Millichap announced the sale of AmeriStorage Four Property Portfolio in Pennsylvania and Ohio. The portfolio has a total of 551 non-climate-controlled units totaling 78,360 NRSF. Together, they have 71 parking spaces. Luke Dawley, Nathan Coe, Brett R. Hatcher and Gabriel Coe had the listing for the seller, an LLC. Sean Beuche, Pennsylvania broker of record, helped close the transaction.

Refinancing

PSRS arranged a $4.2 million refinancing for Church Ranch Self-Storage in Westminster, CO. The property has 663 units, climate control and other features. Kostas Kavayiotidis and Nicholas Drohan of PSRS secured the long-term, non-resource loan. The borrower was not disclosed. Source: REBusinessOnline

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