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International Boulevard Self Storage in SeaTac recently changed hands for $6.5M, which represents a price of approximately $143/SF. The 45,273 SF facility at 19825 International Blvd. is 1 mile from SeaTac International Airport and sits on 2.12 acres. It has 453 units and was built in 1974. The property includes seven buildings.
The last time the property changed hands was in 2007 when SeaTac Storage LLC purchased it for $3.7M, according to public records.
“International Boulevard Self Storage attracted multiple offers and generated a highly-competitive bidding process,” Christopher R. Secreto, Marcus & Millichap senior vice president investments at the firm’s Seattle office and a senior director of the National Self-Storage Group, said in a statement. “Much of the area is gentrifying and buyers were attracted to the facility’s proximity to the airport and the redevelopment potential.”
Secreto listed the property and secured the buyer.
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