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Eastside Self Storage In North Bend Sells For $12.7M

Eastside Self Storage In North Bend Sells For $12.7M
Eastside Self Storage in North Bend

Eastside Self Storage, in North Bend, recently sold for $12.7M.

That prices make it the second-largest price per SF self-storage property transaction in Washington, according to Marcus & Millichap. The 50K SF facility is located at 1410 Boalch Ave. NW and sits on 6.11 acres. Built in 2005, it has 361 units.

The eight buildings total 53K SF, according to public records. The last sale of note was in 2004 when it sold to Gdb Development LLC for $1M.

Marcus & Millichap Senior Managing Director of Investments Christopher R. Secreto listed the property and secured the out-of-state institutional buyer. 

A year ago, Kitsap Lake Storage facility in Bremerton sold for $16M in an all-cash transaction. That sale was $205 per SF, which was a record for the price of a self-storage unit building in Kitsap County. Marcus & Millichap also brokered that deal.