California Self-Storage Facility Sold for $7M

Cargo Bay, a self-storage facility and office complex in Clovis, Calif., recently sold for $7 million to a private investor.

Cargo Bay, a self-storage facility and office complex in Clovis, Calif., recently sold for $7 million to a private investor.

Located at 2491, the facility has 1,031 self-storage units and an office. The 112,271-square-foot facility also includes office suites. For a monthly fee, offices include furnishing, IP telephone and unlimited nationwide calling, high-speed Internet, the use of meeting rooms and a business mailbox. The facility also offers a business center, shipping and receiving and retail supplies.

Christopher R Secreto and Joel Deis, investment specialists in the Seattle office of Marcus & Millichap Real Estate Investment Services, represented the seller, a financial institution, and the buyer. Broker Jeff Mishkin assisted in the closing of the transaction.

With more than 1,200 investment professionals in offices nationwide, Marcus & Millichap is the nations largest firm specializing in commercial real estate investments. The company closed 3,441 transactions in 2009.

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