{"id":1004270504,"date":"2018-10-09T18:11:35","date_gmt":"2018-10-10T02:11:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004270504"},"modified":"2022-12-07T21:20:03","modified_gmt":"2022-12-08T05:20:03","slug":"levin-johnston-arranges-bay-area-self-storage-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/levin-johnston-arranges-bay-area-self-storage-sale\/","title":{"rendered":"Levin Johnston Arranges Bay Area Self-Storage Sale"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004270507\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Self-Storage-Sunnyvale.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004270507\" data-attachment-id=\"1004270507\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/levin-johnston-arranges-bay-area-self-storage-sale\/39-120-self-storage-sunnyvale\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Self-Storage-Sunnyvale.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1440511232&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Lock It Up Self Storage\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Lock It Up Self Storage&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Self-Storage-Sunnyvale.jpg?w=800\" class=\"wp-image-1004270507 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Self-Storage-Sunnyvale.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Self-Storage-Sunnyvale.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Self-Storage-Sunnyvale.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Self-Storage-Sunnyvale.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004270507\" class=\"wp-caption-text\">Lock-It-Up Self Storage facility in Sunnyvale<\/p><\/div>\n<p>Levin Johnston of Marcus &amp; Millichap has arranged the sale of two Lock-It-Up Self-Storage facilities in Sunnyvale and Fremont, Calif., for a total of $27.8 million. The brokerage firm represented the seller and the buyer in both transactions.<\/p>\n<p>The Sunnyvale facility, which sold for $15.5 million, is located at 220 W. Ahwanee Ave., just off Freeway 101 and merely 10 miles from downtown San Jose. Built in 1987, the asset occupies more than one acre and offers 517 units. The storage facility features climate control, drive-up access, security cameras and parking spaces.<\/p>\n<p><em>\u201cThe strength of the local multifamily market is a core driver in this investment demand, as smaller average apartment sizes contribute to increased consumer demand for storage space,\u201d <\/em>said Adam Levin, senior managing director of Levin Johnston, in prepared remarks.<\/p>\n<div id=\"attachment_1004270510\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Lock-It-Up-Fremont.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004270510\" data-attachment-id=\"1004270510\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/levin-johnston-arranges-bay-area-self-storage-sale\/39-120-lock-it-up-fremont\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Lock-It-Up-Fremont.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1440669909&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Lock It Up Self Storage\" data-image-description=\"\" data-image-caption=\"&lt;p&gt; Lock It Up Self Storage&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Lock-It-Up-Fremont.jpg?w=800\" class=\"wp-image-1004270510 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Lock-It-Up-Fremont.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Lock-It-Up-Fremont.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Lock-It-Up-Fremont.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/39-120-Lock-It-Up-Fremont.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004270510\" class=\"wp-caption-text\">Lock-It-Up Self Storage in Fremont<\/p><\/div>\n<p>The second facility traded for 12.3 million and is located at 38491 Fremont Blvd., near Freeway 84 and Interstate 880, around 18 miles from downtown San Jose. Constructed in 1986, the eight-building storage asset sits on 2.8 acres and comprises a total of 637 storage units, ranging from 25 to 300 square feet, Yardi Matrix data shows. The property is gated and features drive-up access, parking and RV parking spaces, security cameras and indoor units.<\/p>\n<p><em>\u201cNational trends such as retirement, downsizing of baby boomers, and <a href=\"https:\/\/www.commercialsearch.com\/news\/a-closer-look-at-millennials-impact-on-self-storage\/\">millennial consumer preferences<\/a> will only strengthen in the years ahead, providing a positive long-term value opportunity for owners of self-storage product,\u201d<\/em> added Levin.<\/p>\n<p>The brokerage team included Levin of Levin Johnston and Jacob Becher, vice president of Marcus &amp; Millichap\u2019s National Self-Storage Group.<\/p>\n<p><em>Images courtesy of Levin Johnston&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The brokerage firm arranged the sale of two self-storage facilities located in Sunnyvale and Fremont, Calif. The assets traded for $28 million. <\/p>\n","protected":false},"author":871,"featured_media":1004270507,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,36079,15],"tags":[41243,41240,34836],"class_list":["post-1004270504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-san-jose","category-west","tag-adam-levin","tag-levin-johnston","tag-marcus-millichap"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Levin Johnston Arranges Bay Area Self-Storage Sale - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/levin-johnston-arranges-bay-area-self-storage-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Levin Johnston Arranges Bay Area Self-Storage Sale\" \/>\n<meta property=\"og:description\" content=\"The brokerage firm arranged the sale of two self-storage facilities located in Sunnyvale and Fremont, Calif. 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