Press Releases
Marcus & Millichap Arranges The Sale Of a 42,020-Square Foot Self-Storage in Kelso
July 12, 2024
KELSO, WA, July 12, 2024 – 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 Gordon's Mini Storage, a 42,020-square foot self-storage located in Kelso, Washington. The asset sold at a confidential price.
Christopher R. Secreto, an investment specialist in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Secreto, as well.
The transaction was highly negotiated and structured. Secreto offered “The buyer bought a majority interest, and the seller retained a partial interest to participate in cash flow and future upside. It required considerable negotiations between the parties and the lender, but everyone is happy with the end result.”
Gordon's Mini Storage is located at 1712 Westside Hwy in Kelso, Washington. It was built in 1992 and expanded in 2005 and 2022 with a total of 320 units and a mix of standard and heated units.
Christopher R. Secreto, an investment specialist in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Secreto, as well.
The transaction was highly negotiated and structured. Secreto offered “The buyer bought a majority interest, and the seller retained a partial interest to participate in cash flow and future upside. It required considerable negotiations between the parties and the lender, but everyone is happy with the end result.”
Gordon's Mini Storage is located at 1712 Westside Hwy in Kelso, Washington. It was built in 1992 and expanded in 2005 and 2022 with a total of 320 units and a mix of standard and heated units.
# # #
About Marcus & Millichap, Inc. (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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
