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| Self-Storage Facilities, Los Gatos, CA |
SILICON VALLEY, CA – Levin Johnston of Marcus and Millichap,
one of the top multifamily brokerage teams in the U.S. specializing in wealth
management through commercial real estate investments, has successfully
directed the sale of two institutional quality self-storage facilities in the
highly desirable Los Gatos submarket of Silicon Valley, California.
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| Adam Levin |
Adam Levin,
Senior Managing Director of Levin Johnston and Jacob Becher, Vice President of
Investments and Associate Member of National Self Storage Group at Marcus &
Millichap, represented the buyer, a private high net worth family seeking to
expand its portfolio, as well as the seller, a private high net worth
individual, in the transaction.
“This transaction is a
strong example of value creation through diversification in the commercial real
estate industry,” says Levin. “We brought in a buyer that historically invested
only in multifamily properties and was accustomed to very tight cap rates.
"By bringing these two entities together, we were able to help the buyer diversify the family’s portfolio while also helping the seller to achieve a premium price that was attractive to both parties.”
"By bringing these two entities together, we were able to help the buyer diversify the family’s portfolio while also helping the seller to achieve a premium price that was attractive to both parties.”
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| Jacob Becher |
“These are trophy
assets in a high-end, core market where the residual land value will sustain
and likely appreciate,” says Levin. “By approaching the transaction with a
wealth management mindset, we were able to compete with national interest among
self-storage buyers and ultimately direct a transaction that was a win for both
the seller and the buyer.”
The two facilities,
688 University Avenue and 17443 Farley Road West, are located less than half a
mile apart and within two miles of two primary Bay Area thoroughfares: SR-17
and SR-85.
For more information,
please contact:
Alex Caswell / Jenn Quader
Brower Group
(949) 955-7940
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