Marcus & Millichap announced the $5.52 million sale of Pedron’s RV Storage, an 80,824-square-foot vehicle storage facility.
“The sellers owned and self-managed this facility for 40 years, and the buyers already own a similar property in the greater Vancouver area,” said Chris Secreto, senior managing director of investments. “While the broader Vancouver self-storage market is oversupplied, there is far less competition for facilities dedicated entirely to boat, RV and vehicle storage.”
Secreto, an investment specialist in Marcus & Millichap’s Seattle office, exclusively marketed the property on behalf of the seller and procured the buyer, both local private investors.
Pedron’s RV Storage is located at 6002 NE 152nd Ave. Built in 1986 and expanded in 2006 and 2007, the facility comprises 275 vehicle storage spaces totaling 80,824 rentable square feet on 4.94 acres. The property offers indoor, covered and uncovered vehicle storage, as well as a rental office and apartment.
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