Marcus & Millichap Completes Sale of U Storage OK
- Mar 06, 2018
Marcus & Millichap has arranged the sale of U Storage OK, a 134,318-square-foot storage facility in Edmond, a suburb of Oklahoma City. The firm marketed the property on behalf of the seller, a limited liability company and represented the buyer, a private investment group.
Completed in 2014, the asset occupies 7.9 acres at 14000 North I-35 Service Road, a major thoroughfare that provides exposure to 76,000 vehicles per day. Additionally, downtown Oklahoma City is within 15 minutes of the property.
The eight-building facility features climate- and non-climate-controlled units, ranging from 50 to 225 square feet. U Storage OK provides amenities such as a gate, drive-up access, parking and security cameras. Additional services include on-site management, a truck rental option and 24-hour access. The storage facility also has growth potential through the continued lease-up of a recently completed 28,000-square-foot expansion.
“Our client is excited about the potential that this asset brings and is looking forward to partnering with US Storage Centers as the third-party manager to maximize the value of this opportunity,” said Marcus & Millichap Associate Brian Fulton, in prepared remarks.
Senior Associate Trey Hammond and Senior Managing Director of Investments Michael Mele had the exclusive listing to market the property on behalf of the seller, while Fulton represented the buyer.
Image courtesy of Yardi Matrix