Self-storage facility sold in New York City

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Marcus & Millichap negotiated the sale of an 82,000-square-foot Storage Deluxe property in the Bronx, N.Y.  The value of the transaction was approximately $14.2 million. A New York investment partnership sold the property to Salt Lake City-based Extra Space Storage. The Storage Deluxe facility is located at 245 W. Fordham Road. The building was completely renovated and converted to self-storage by the seller in 1999. The property's 1,270 storage units were 87 percent occupied at the time of sale. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....