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9/21/18
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Baranof Holdings LLC, in a joint venture with an institutional equity partner, has purchased a fully entitled, ready to build self-storage site in the North Seattle city of Shoreline, WA. The price was not immediately given out.
The site totals 41k sf of land and is approved to build approximately 77k sf of Class A, institutional quality, heated space. The site is located at 19237 Aurora Ave N, and offers tremendous visibility and accessibility in a dynamic, growing trade area.
Greg Wells and Jim Lewis with Cushman & Wakefield represented the seller, Lake Union Partners, a private development firm based in Seattle.
"The self storage market continues to see strong demand from all capital sources,” said Wells. "This transaction is an example of the continued appetite for well-located development opportunities in high-end, high barrier to entry markets.”
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