Sumas, Wash., March 4, 2020 – 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 Sumas Mini Storage, a 23,448-square foot self-storage facility located in Sumas, 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 $1,250,000, representing approximately $53 per rentable square foot.
Christopher R. Secreto, Senior Managing Director Investments at the firm’s Seattle office and an Executive 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. The buyers completed a 1031 exchange after having sold a small apartment complex.
Sumas Mini Storage is located on the Canadian Border in Sumas, Washington. The facility consists of a parcel totaling 1.38 acres at 446 Harrison St, Sumas, Washington 98295. “From selling, the sellers reduced their active property management responsibilities, while the buyers made their first self-storage investment.” says Secreto. “We do our best to meet the different needs of our clients.” The Facility serves the city of Sumas and Whatcom 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.