Marcus & Millichap, a leading commercial real estate brokerage firm, recently announced the successful sale of 12th Street Storage in Tacoma, Washington. The self-storage facility spans over 91,546 square feet and was sold for $19 million.
Christopher R. Secreto from Marcus & Millichap’s Seattle office served as the exclusive listing agent for this property on behalf of the seller – a limited liability company. Secreto also played a crucial role in securing the buyer – an international fund manager.
Located at 1018 S Highland Ave in Tacoma, WA, 12th Street Storage was developed by a local investment group in 2020/21 and acquired by an international real estate firm based out of London and Los Angeles.
According to Secreto: “This Class A facility is situated in an attractive area of Tacoma and garnered interest from multiple institutional investors across the U.S. Despite facing temporary challenges due to oversupply caused by slowdowns in residential real estate sales, investors were drawn to its potential.”
