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Seattle & Northwest  + Seattle  + Industrial  |  October 7, 2024
Jasmine Kilman
By: Jasmine Kilman

Marcus & Millichap Facilitates Sale of Self-Storage Portfolio

Marcus & Millichap completed the sale of The Storage Center, a three-property, 3,380-unit self-storage portfolio consisting of multiple multi-story assets located in Austin and San Antonio, Texas and Glendale, Arizona.

“The exceptional quality of the assets captured the interest of a diverse array of today’s most active self-storage investors,” said Jon Danklefs, first vice president of investments in Marcus & Millichap’s San Antonio office.

“Ultimately, our marketing strategy paved the way for a competitive bidding process, resulting in a transaction that closed at 98% of our initial guidance.” Danklefs represented the seller, Brookwood Properties, the original developers of the portfolio, and procured the buyer, UTEX Storage Partners.

Constructed from 2020 to 2023, the portfolio encompasses 322,775 square feet and features 3,296 climate-controlled units along with 84 non-climate-controlled units. Ryan Sarbinoff is Marcus & Millichap’s broker of record in Arizona.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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