Marcus & Millichap, a leading commercial real estate firm, recently oversaw the successful sale of Gordon’s Mini Storage in Kelso, Washington. This self-storage facility spans 42,020 square feet and was sold at an undisclosed price.
Christopher Secreto from Marcus & Millichap’s Seattle office served as the investment specialist for this transaction. He exclusively listed the property on behalf of the seller – a limited liability company. Additionally, he also secured and represented the buyer – another limited liability company.
The negotiation process for this deal was complex and required careful structuring. According to Secreto: “The buyer purchased a majority interest while allowing the seller to retain partial ownership for future cash flow opportunities.” Despite challenges with negotiations between all parties involved including lenders, everyone is satisfied with how things turned out.
Gordon’s Mini Storage is situated at 1712 Westside Hwy in Kelso and has been operational since 1992. Over time it has expanded twice – once in 2005 and again in 2022 – resulting in a total of 320 units that include both standard as well as heated storage options.
This news originally appeared on Connect CRE.
