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A Gold Mine Storage in Sonora, California, Sold to a Regional Investor
The facility comprises 105,568 square feet in 478 units

July 12, 2021: A Gold Mine Storage in Sonora, California, sold for $10.3 million to a regional investor as part of a 1031 exchange. The facility located at 18600 Eagle Ridge Drive comprises 105,568 square feet in 478 units, with room to expand. 

The property was built in phases between 2011 and 2017. It was 85% physically occupied at the time of sale. 

The seller, a limited liability company, was represented in the transaction by Christopher R. Secreto, senior managing director of investments and an executive director of the National Self-Storage Group for Marcus & Millichap (M&M). Secreto also procured the buyer.

Marcus & Millichap (M&M) is a commercial real estate investment services firm with offices throughout Canada and the United States. 

Source: https://www.insideselfstorage.com/acquisitionsbuying/self-storage-real-estate-acquisitions-and-sales-july-2021