DENVER, CO | The LeClaire Group of 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 MJP Self Storage, a 25,375 square foot self storage facility located in Loveland, Colorado.
Conor Reagan, Investment Associate, and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver, Colorado office had the exclusive listing to market the property on behalf of the seller, a local private owner. “The location and quality of this asset attracted a significant amount of local and even national demand.” Reagan said, “With the influx of new supply oversaturating many primary markets, investor demand for assets like this in secondary and tertiary markets continues to grow.”
The buyer, a local investor based in Colorado, was brought to the table by Peter Standley and Boomer Beatty, and the financing was arranged by Phil Gause, all based out of the Denver office of Marcus & Millichap.
“This transaction shows the power of Marcus & Millichap’s unique platform. We were able to move capital across product types and arrange attractive financing for the buyers resulting in a favorable outcome for all parties,” Reagan added.
MJP Self Storage consists of 142 non climate-controlled units of which 125 are drive up and 17 are accessible from interior hallways. The facility was built in 2014 and features four single story buildings that are of metal construction. MJP Self Storage features a 24-hour self-service kiosk, keypad-controlled gate access and 24-hour video surveillance. The facility sits on Highway 34, a main thoroughfare running from I-25 to Estes Park with traffic counts exceeding 12,284 per day.