Port Angeles Self-Storage Sells For $4.25M
The 44,700 SF Airport Road Self Storage in Port Angeles recently sold for $4.25M, or $95 per rentable square foot. The building is at 4114 South Airport Road just off Highway 101. It includes 293 self-storage units and sits on 16.5 acres.
The facility was built in three phases starting in 1985. The second and third phases were completed in 2005 and 2011. The complex includes 12 single-story self-storage buildings featuring six different storage unit sizes that all have ground-floor drive-up access.
“Located in a tourism and recreational community, Airport Road Self Storage consistently maintained high rates of occupancy,” Marcus & Millichap Senior Vice President, Investments Christopher R. Secreto said in a statement. “This, and the additional land included in the sale, attracted qualified buyers and multiple offers quickly.”
Secreto listed the property for the seller, a local limited liability company. The buyer is a California-based investment group that was also secured by Secreto.