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North Seattle Self Storage Development Site Sold
A fully-entitled, ready-to-build self storage site in the North Seattle city of Shoreline, WA has been sold. The buyer was Dallas-based Baranof Holdings, LLC, in a joint venture with an unnamed institutional equity partner.
The site totals 41,000 square feet of land, and is approved to build roughly 77,000 rentable square feet of Class A, institutional quality, heated space. The site is located on Aurora Ave North, and offers tremendous visibility and accessibility in a dynamic, growing trade area.
Cushman & Wakefield’s Greg Wells and Jim Lewis handled the transaction on behalf of the seller, Lake Union Partners, a private development firm based in Seattle.
Wells says, “The self storage market continues to see strong demand from all capital sources. This transaction is an example of the continued appetite for well-located development opportunities in high-end, high barrier to entry markets.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
