The Mele Group Brokers Sale of CA Facility
- Apr 24, 2018
The Mele Group of Marcus & Millichap has arranged the sale of Fairfield Self Storage, a 66,720-net-rentable-square-foot storage facility in Fairfield, Calif. The acquisition marks The Mele Storage Group’s 15th transaction this year. The firm marketed the sale on behalf of the seller, The Laurel Co., and secured the buyer.
Located at 606 Parker Road, the facility occupies 3.6 acres near the Travis Air Force Base’s entrance gate, within 15 minutes of Highway 12 and Interstate 80. More than 133,000 people live within a five-mile radius, with an average household income of roughly $69,000. The area is surrounded by military housing, including townhomes and multifamily properties. The storage facility was built in 1985 and offers 515 units and a self-service kiosk.
“Understanding the unique circumstances of each project is key, and with our experience, we are able to create a pool of buyers for the sellers we represent. During our marketing process, we had buyers from all over the country who are clamoring to invest in California self storage,” said Luke Elliott, of Marcus & Millichap, in prepared remarks.
Image courtesy of Yardi Matrix