PUEBLO, CO | Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Affordable Storage Solutions a 50,810 square foot storage facility located in Pueblo, Colo. The property sold for $3,050,000 which equates to $60.02 per square foot.
Chico LeClaire, senior vice president investments, and Adam Schlosser, vice president investments, both in Marcus & Millichap’s Denver office represented the seller, a local private investor. The buyer, was a Colorado based national self-storage real estate investment trust. “This acquisition further illustrates the willingness of our industry’s largest companies to enter secondary and tertiary markets if the quality and yield is there.” says Schlosser.
The property is located at 90 Greenhorn Drive in southern Pueblo with visibility from interstate 25. The one and two-story buildings have a total of 396 units with both interior climate controlled and standard drive up units. Built in phases from 2008 to 2014, Affordable Storage Solutions is one of the newest self storage facilities in the area. It features an institutional quality leasing office and is under 24-hour video surveillance with electronic gate access.
The LeClaire Group has facilitated the sale of nine individual self storage facilities in Colorado within the past 16 months with three more currently under contract.