Marcus & Millichap announced the sale of Flamingo Durango Self Storage, a 107,576 net-rentable-square-foot, 917-unit self-storage facility in Las Vegas.
“The property has consistently maintained 90 percent plus occupancy over the years, even during the downturn,” says Chico LeClaire, senior director of Marcus & Millichap’s National Self Storage Group. “The acquisition provides new ownership with an opportunity to increase revenue through streamlining efficiencies and strengthening the marketing platform.”
“At the time of the sale, the facility was 93.6 percent physically occupied and 80.2 percent economically occupied,” adds Cameron Glinton, a senior associate in Marcus & Millichap’s Las Vegas office. Perry White, vice president investments in the firm’s Las Vegas office, is Marcus & Millichap’s broker of record in Nevada. LeClaire and Glinton represented the seller and procured the buyer.
The property is located four miles west of the Strip, next to the signalized corner of Flamingo Road and Durango Drive in Las Vegas. Spanish Hills, Summerlin, and interstates 15 and 215 are nearby.
Flamingo Durango Self Storage features 13 single-story self-storage buildings, an on-site office, individually alarmed and lighted cooled and non-cooled units, coded gate access, a video surveillance system, and a two-bedroom/2.5 bath manager’s apartment.
