Silverdale, Wash., November 25, 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 Affordable Self Storage, a 30,325-square foot self-storage facility located in Silverdale, 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 sold for $4,350,000, representing approximately $143 per rentable square foot.
Christopher R. Secreto, Senior Managing Director 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 limited liability company based in Washington. Secreto also secured the buyer, also a limited liability company based in Washington. Both the buyer and the seller were repeat clients of Secreto’s, who is known for emphasizing client relationships; not just transactions.
Affordable Self Storage is located in Silverdale, on a highly visible signalized corner. The facility consists of a parcel totaling 1.28 acres at 7979 Provost Rd NW, Silverdale, WA 98383.
“The sellers are diversifying away from self-storage, while the buyers were adding to a self-storage portfolio.” says Secreto. “We did our best to meet the different needs of our clients.”
The Facility serves the city of Silverdale and Kitsap County as a convenient self-storage facility with a wide variety of unit sizes.
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 9,472 transactions in 2018 with a value of approximately $46.4 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.