Marcus & Millichap Arranges the Sale of a 36,400-Square Foot Self-Storage
LAS VEGAS, Nev, July 1, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of U - Storage, a 36,400-square foot self-storage located in Las Vegas, NV. According to Cameron Glinton, regional manager of the firm’s Las Vegas office, the asset sold for $4,450,000.
Nick Kornieck, Michael R. LaBar and Michael L. Shaffner, investment specialists in Marcus & Millichap’s Las Vegas office, had the exclusive listing to market the property on behalf of the seller, a private investor.
U - Storage is located at 5000 E Gowan Road in Las Vegas, NV. “U - Storage is a 348-unit outdoor storage facility located across the street from Nellis Air Force base. The property resides on the corner of Gowan & Nellis Boulevard. It sits on a 6.1 acre parcel that leaves plenty of opportunity for possible expansion. The transaction closed with a EY1 net operating income of $246,827 and a 5.5% cap rate,” according to Shaffner.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.