January 10, 2017
Etkin Johnson Real Estate Partners sold an 81,263-square-foot, mixed-use, self-storage and office asset in Littleton, CO to a local, private buyer. The seller received $18.2 million for the asset at 8000 Southpark Way.
Charles “Chico” LeClaire, Adam Schlosser, Drew Isaac and Barry Higgins of Marcus & Millichap’s Denver office, represented the seller. LeClaire and Schlosser procured the buyer.
The two-building asset is situated on 16.2 acres. Extra Space Storage manages 767 climate-controlled units. At the time of the sale, a national defense contractor was in its initial lease term to occupy the office/flex space, which totals 33,238 square feet. Meanwhile, an auto broker leases the 7-acre rear parking lot.
“Converting suburban office/warehouse space to self-storage may not have been considered by seasoned developers like Etkin Johnson five years ago,” Schlosser said. “Successful projects like these are why we continue to see so many new players enter the self-storage space here locally and nationwide.”
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