EAST WENATCHEE, WA, August 8, 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 East Wenatchee Mini Storage, a 113,215-square foot self-storage facility located in East Wenatchee, WA, according to Joel Deis, regional manager of the firm’s Seattle office. The asset sold for $18,000,000.
Christopher R. Secreto, an investment specialist in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Christopher R. Secreto as well.
East Wenatchee Mini Storage is located at 423 Rock Island Rd, East Wenatchee, WA 98802. It is comprised of 944 standard and climate-controlled self-storage units, as well as 2 parking units, totaling to 946 units. The facility was 98% occupied at the time of closing. East Wenatchee Mini Storage was family-owned for 30 years of its operation; the family now plans to retire and pass the property on to an aggressive buyer adding to an existing portfolio.
About Marcus & Millichap (NYSE: MMI)
With over 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 8,954 transactions in 2020 with a value of approximately $43 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.