SHELTON, WA (August 21, 2018) – 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 Freedom Self Storage, a 36,900-square foot self-storage located in Shelton, WA. According to Joel Andrew Deis, Regional Manager of the firm’s Seattle office and the national director of the National Self Storage Group, the facility sold for $3,600,000, representing $98 per rentable square foot.
Christopher R. Secreto, a self storage investment specialist in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a local limited liability company. The buyer, an out of state limited liability company, was also secured and represented by Secreto.
Freedom Self Storage is located at 2992 E Johns Prairie Rd in Shelton, WA. It is a high-quality, well-maintained facility that includes 253 self storage units and sits on 5.33 acres. The Facility was built in three phases. Phase 1 was built in 2005, and Phase 2 and 3 were completed in 2007 and 2017, respectively. There are nine single-story self storage buildings including one with a rental office, back office and small studio area. All units have ground floor drive-up access.
“Freedom Self Storage generated strong buyer interest and multiple offers quickly,” says Secreto. “There was land for additional development and the facility was 100% occupied at closing.”
The Facility is located in Shelton, WA, and serves the Shelton, Union, Allyn Grapeview and West Olympia communities of the South Sound area of Washington. The Facility is conveniently located in Shelton, WA just off highway 3 along East Johns Prairie Road.
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 2017 with a value of approximately $42.2 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