Oakland Storage Facility Sells for $24.25MM

My Storage, Oakland, Marcus & Millichap, McGrath Properties

(EDITOR’S NOTE: The seller of the property is McGrath Properties, who acquired the asset in 2015, according to the company’s website.)

Oakland, CA., October 27, 2021– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of the My Storage in Oakland, California.

Christopher R. Secreto, Senior Managing Director Investments in the firm’s Seattle office and an Executive Director of the firm’s Self-Storage Division, had the exclusive listing to market the facility on behalf of the seller, a limited liability company based in California. Secreto also procured the buyer, a New York-based institutional investment firm. Secreto was assisted by David Nelson with the transaction.

“My Storage attracted considerable interest from investors around the country”, Secreto said, “as the city of Oakland has high barriers to entry for new storage facilities.”    

My Storage is located at 2615 E 12th St, Oakland, California. The Facility was built in 1975, expanded in 2004, and consists of 925 self-storage units and 89,080 net rentable square feet. The site is 5.97 acres combined. 

About Marcus & Millichap (NYSE: MMI)

With nearly 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,276 transactions in 2019 with a sales volume of approximately $50 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.

West Coast Commercial Real Estate News