A two-parcel self-storage facility in Lacey, WA changed hands for the full asking price of $2.6 million. The buyer and seller weren’t identified.
Stowaway Mini Storage sits on two neighboring parcels: one at 927 Bowker St. SE and the other at 5235 Lacey Blvd. The facility encompasses 19,100 square feet. The unit count wasn’t available.
Chris Secreto of Marcus & Millichap’s office in Seattle, WA represented the seller, and Matt Gardner of the Seattle office secured the buyer and helped work out a 1031 exchange.
Marcus & Millichap Capital Corp. arranged 75 percent loan-to-value purchase financing from a local credit union.
“Stowaway attracted multiple offers and generated a competitive bidding process. The buyers are new to the industry and are excited to invest in more self-storage,” Secreto said.
Argus Self Storage Network (Aurora, CO) reports:
- Joan Lucas of Joan Lucas Real Estate Services LLC in Denver, CO, who’s affiliated with Argus, and Mark Billingsley of Hike Real Estate in Papillion, NE represented the unidentified seller of Kite Ranch RV Storage in Lemoyne, NE. The buyer wasn’t identified. The purchase price wasn’t disclosed; the list price was $1.7 million. The facility, on 6.28 acres at 299 Highway 92 West, provides 224 units in more than 95,000 rentable square feet.
- Frost Weaver and Josh Koerner of Jacksonville, FL-based Weaver Realty Group Inc. handled the sale of Pan Am Mini Storage in Atlantic Beach, FL. The buyer and seller weren’t identified. The purchase price wasn’t disclosed; the facility was listed at $5.47 million. The facility, on 4.43 acres at 2383 Mayport Road, features 552 units and 87 boat and RV parking spaces across 66,400 rentable square feet.
Marcus & Millichap reports:
- The Hatcher Group of the company’s office in Columbus, OH closed on the sale of AAA Westside Storage in Salem, OR. The buyer and seller weren’t identified. The purchase price wasn’t disclosed. The facility, on 2.19 acres at 2401 Salem Dallas Highway NW, comprises 410 units in 46,056 net rentable square feet.
- Thomas Berlin and Zachary Munce of the company’s office in Detroit, MI represented the unidentified buyer and unidentified seller of Savoie Self Serve Storage in Clarkston, MI. The purchase price wasn’t disclosed. The facility, on 9 acres at 9650 Dixie Highway, covers 38,580 square feet. The unit count wasn’t available.
Midcoast Properties Inc. (Hilton Head Island, SC) reports:
Michael Morrison represented the buyer of All Safe Storage in Seneca, SC. The SpareFoot Storage Beat initially reported the deal on Oct. 30.