Happy Valley, Oreg.– 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 the Sunnyside Self Storage Development Site in Happy Valley, Oregon. Approvals and plans are in-place for a Class A self-storage facility with 3 stories above a half basement design. Plans call for 601 units and 60,125 net rentable square feet.
Christopher R. Secreto, Senior Managing Director Investments at the firm’s Seattle office and an Executive Director of the firm’s Self-Storage Division, had the exclusive listing to market the facility on behalf of the seller, a limited liability company based in Washington. Secreto also procured the buyer, an institutional self storage developer.
The Sunnyside Self Storage Development Site facility is located at 16576 SE Sunnyside Road. The site is one of the last remaining undeveloped sites along Sunnyside Road and is in the central business district. City Hall, for example, is less than one-half mile from the site. Sunnyside Road is the main east-west thoroughfare through Happy Valley. Site development and building permits were immediately available once all permit fees were paid.
About Marcus & Millichap (NYSE: MMI)
With nearly 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,276 transactions in 2019 with a sales volume of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.