Commune Capital sells a 103,397-square-foot self-storage facility in Bellevue, Washington, to Premier Storage Investors for $50.7 million.
Commune Capital has finalized the sale of a 103,397-square-foot self-storage property located at 12399 Northup Way in Bellevue, Washington. The asset, which was acquired by Premier Storage Investors for $50.7 million, was constructed in 2016 on a 1.2-acre site. The Class A facility contains 988 climate-controlled and drive-up storage units and maintained a 93 percent occupancy rate at the time of the transaction.
Cushman & Wakefield brokers Mike Mele, Luke Elliott, Jim Lewis, and Steffan Brown represented Commune Capital in the sale.
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