The LeClaire-Schlosser Group of real estate firm Marcus & Millichap has arranged the sale of VIP Self Storage, a 24,000-square-foot storage facility in El Cajon, CA. The buyer is a nationwide real estate investment firm and the seller is a partnership that has owned the asset for over 25 years. Terms of the deal were not disclosed.
“It is the right time for them to sell, take their proceeds and move on,” said Keith Phillips, Senior Investment Associate in Marcus & Millichap’s Encino, CA office. Phillips and Charles “Chico” LeClaire, Executive Managing Director of Investments in the firm’s Denver, CO office had the exclusive listing for the property.
VIP Self Storage consists of 376 units and is located on Magnolia Avenue in an established market. The facility sits in a retail corridor near Gillespie Field and major retailers include Food 4 Less, Target, Costco and Starbucks.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.