West Loveland self-storage facility sells for $2.4M

LOVELAND — MJP Self Storage LLC, located at 4321 W. Eisenhower Blvd. in west Loveland, sold on June 13 for $2.4 million, according to Larimer County property records.

MJP Self Storage is a company registered to Daniel Albracht. Albracht built the 25,375-square-foot storage facility in 2014, and it was listed in Larimer County records with a market valuation of $1,444,100.

Buyers were listed as Michael J. and Marcella A. Fassel. Michael Fassel is affiliated with the Sunflower Equestrian Center LLC in Arvada, according to state records.

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The LeClaire Group of Marcus & Millichap (NYSE: MMI), a commercial real estate investment services firm with offices throughout the United States and Canada, brokered the transaction. Conor Reagan, investment associate, and Adam Schlosser, senior vice president investments, located in Marcus & Millichap’s Denver office, handled the listing.

“The location and quality of this asset attracted a significant amount of local and even national demand,”  Reagan said in announcing the sale. “With the influx of new supply oversaturating many primary markets, investor demand for assets like this in secondary and tertiary markets continues to grow.”

MJP Self Storage consists of 142 non-climate-controlled units, of which 125 are drive up and 17 are accessible from interior hallways.  The facility was built in 2014 and features four single story buildings that are of metal construction. MJP Self Storage features a 24-hour self-service kiosk, keypad-controlled gate access and 24-hour video surveillance.