BEND, OR, December 6, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Summit Self Storage, a 22,490-square foot self-storage located in Bend, OR, according to Joel Deis, regional manager of the firm’s Portland office. The asset sold for $4,200,000.
Christopher R. Secreto and Samuel Olson, investment specialists in Marcus & Millichap’s Portland office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a limited liability company, was secured and represented by Christopher R. Secreto and Edward Milton-Moncivaiz, investment specialists in Marcus & Millichap’s Seattle office. The buyer, who lives in the state of Washington, completed a 1031 exchange after having sold a self-storage facility in Texas.
Summit Self Storage is located at 720 SE 9th St in Bend, OR. The Facility was built in 1976-77. It has 146 units and was 98% occupied at closing.
About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion.