Levin Johnston of Marcus & Millichap closed the sale of a 49,922-square-foot, 568-unit Extra Space Storage facility at 38491 Fremont Blvd. in Fremont. The team represented the seller, a private real estate investor, and procured the buyer, an institutional self-storage developer, operator and manager.
“The seller, who had previously invested in multifamily, held this high-quality, cash-flowing self-storage asset, professionally managed by Extra Space Storage, for five years,” said Adam Levin, executive managing director of Levin Johnston. “This provided stability during an uncertain and sometimes volatile period for the Bay Area. Leveraging favorable market momentum and heightened interest in the region, they saw value in trading back into multifamily assets supported by a strong economic base and enduring appeal of the area as a place to live and work.”
He noted that the Levin Johnston team brought additional value through leveraging its extensive investor network for a varied and competitive buyer pool.
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