Belfair, Wash. (April 15, 2019) – 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 All Star Self Storage, Boat & RV, a 76,670-square foot self-storage facility located in Belfair, Washington.
According to Joel Deis, Regional Manager of the firm’s Seattle office and the National Director of the National Self-Storage Group, the facility closed at $9,750,000, representing approximately $127 per rentable square foot.
Christopher R. Secreto, Senior Vice President Investments at the firm’s Seattle office and a Senior Director of the National Self-Storage Group, had the exclusive listing to market the property on behalf of the seller, a local partnership. The buyer was a regional investment group and was also secured by Secreto.
All Star Self Storage, Boat & RV is located at 19720 E Highway 106 in Belfair, Washington along the Hood Canal. The facility sits on five parcels totaling 11.98 acres featuring 586 self storage units, plus a 25,000 square foot “boat barn” for indoor boat and vehicle storage and 120 uncovered vehicle parking spaces.
The Facility was built in several phases beginning in 1987, and between 1988 and 2003. “Competitors in the area do not have indoor and outdoor boat and vehicle storage like All Star, making it the most complete self storage facility in the county,” says Secreto.
“This advantage and the additional land included in the sale attracted qualified buyers and multiple offers quickly.”The Facility serves Belfair and Mason County as its one-stop destination for convenient storage of all sizes.
About Marcus & Millichap (NYSE: MMI)With over 1,800 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 9,000 transactions in 2018 with a value of approximately $46.3 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. To learn more, please visit: www.MarcusMillichap.com
