Press Releases
Marcus & Millichap Brokers Sale of 984-Unit Self-Storage Facility in Phoenix
August 06, 2026
PHOENIX, Aug. 6, 2026 – 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 a 984-unit Extra Space Storage self-storage facility in Phoenix, Arizona.
“This is one of the highest-performing self-storage assets in the entire Phoenix MSA, and the sale reflects that,” said Adam Schlosser, executive managing director of the LeClaire-Schlosser Group of Marcus & Millichap. “Built in 2021 and 100% climate-controlled, the facility has driven 13% revenue growth through 2026 while maintaining occupancy near 92%. The asset is in one of Phoenix’s most affluent submarkets, where average annual household incomes within a mile of the property top $137,000. The combination of trophy-quality construction, in-place performance, and rate upside drew significant investor demand.” Schlosser, Jordan Farrer, and Charles “Chico” LeClaire of the LeClaire-Schlosser Group of Marcus & Millichap, in association with Ryan Sarbinoff, Marcus & Millichap’s Arizona broker of record, represented the seller.
This Extra Space Storage facility is in Phoenix’s North Central-Uptown submarket at 6316 North 7th St. The gated-access property has digital keypad entry, a drive-in loading area, multiple elevators, an on-site management office, 24/7 video surveillance, and an interior concrete drive aisle with roll-up doors.
“This is one of the highest-performing self-storage assets in the entire Phoenix MSA, and the sale reflects that,” said Adam Schlosser, executive managing director of the LeClaire-Schlosser Group of Marcus & Millichap. “Built in 2021 and 100% climate-controlled, the facility has driven 13% revenue growth through 2026 while maintaining occupancy near 92%. The asset is in one of Phoenix’s most affluent submarkets, where average annual household incomes within a mile of the property top $137,000. The combination of trophy-quality construction, in-place performance, and rate upside drew significant investor demand.” Schlosser, Jordan Farrer, and Charles “Chico” LeClaire of the LeClaire-Schlosser Group of Marcus & Millichap, in association with Ryan Sarbinoff, Marcus & Millichap’s Arizona broker of record, represented the seller.
This Extra Space Storage facility is in Phoenix’s North Central-Uptown submarket at 6316 North 7th St. The gated-access property has digital keypad entry, a drive-in loading area, multiple elevators, an on-site management office, 24/7 video surveillance, and an interior concrete drive aisle with roll-up doors.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
