Marcus & Millichap Arranges Sale of 53,425-square foot Self-Storage Facility in Stockton, CA

Michael A. Mele

 STOCKTON, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Stockton Self Storage, a 53,425-square foot self-storage facility located in Stockton, CA, according to Ari Ravi, regional manager of the firm’s Tampa office.

Devin Beasley, investment specialist in Marcus & Millichap's Phoenix office, Luke Elliott, first vice president investments in Marcus & Millichap's Tampa office, Michael A. Mele, senior managing director, also in the Tampa office, and Daniel Kuchugurny, investment specialist in Marcus & Millichap's Sacramento office, had the exclusive listing to market the property on behalf of the seller, a private investor.

The buyer, an out-of-state private investor, was secured and also represented by Elliott, Beasley, Mele and Kuchugurny. James Markel, Broker, assisted in closing this transaction.

“Bidding was very competitive from a variety of capital groups, offers coming in from California, the East Coast and Southwestern United States. Ultimately the out of state buyer obtained a very solid asset,” says Elliott.

Luke Elliott

Stockton Self Storage is located at 1880 West Charter Way, this thoroughfare is also known as State Route 4. Situated on 6.60 acres, this institutional-quality facility makes up 53,425 rentable square feet among 409 non-climate controlled units and 225 covered boat/RV parking spaces for a total of 634 units. 

“The commitment of the buyer and seller to The Mele Group's process resulted in a smooth and efficient transfer of a high-quality asset which left both parties very pleased at the closing,” adds Beasley.

For more information about this press release, please contact:

Ari Ravi

Regional Manager, Tampa

(813) 387-4700