CBRE Group, Inc. announced the sale completion of Storage Direct- Silverado and Storage Direct- Bermuda to Strategic Storage Trust in Las Vegas, Nevada for approximately $28.1 million. CBRE’s Senior Vice President Nick Walker represented both buyer and the seller, Silverado Mini Storage LLC, in this transaction.
Storage Direct, located at 9890 Pollock Drive, is a Class A, state-of-the art self-storage facility. This 89,400 square foot facility consists of 436 air-cooled and 335 drive-up self-storage units. The sister facility located on 590 E. Silverado Boulevard totals at 90,038 square feet with 871 total units. Both properties offer clients a gated entrance with key code access, 24-hour video surveillance cameras, and wide asphalt drive aisles for easy access.
“Self-storage continues to see a tremendous amount of demand throughout the US,” said Walker. “Our national marketing platform allowed us to attract multiple offers from private equity, public and nonpublic REITS, institutional capital and large regional operators that helped drive the aggressive price and cap rates.”