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1/25/22
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Gelt Inc purchased a 703-unit self-storage facility in Littleton, CO. The property is located at 5891 S. Youngfield Ct.
Built in two phases in 2013 and 2016 and situated on 4.02 acres, the six-building, Class A property features a mix of drive-up, indoor and climate-controlled units, leasing office, 24-hour video surveillance and key-pad digital entry. Unit sizes range from 12 sf to 300 sf and average 122 sf.
“This institutional-quality acquisition, in the affluent Littleton suburb of Denver, comes at a time when the local market is starting to experience recovery and a growing customer demand for self-storage product,” said Kartikeya Kejriwal (KK), who leads the storage division for Gelt. “Gelt’s strategy encompasses adding value by improving performance through a careful revenue management program. A green solar installation is also under consideration as an effort to improve operational efficiencies.”
Adam Schlosser and Chico LeClaire of Marcus & Millichap represented the seller, a Denver-based private investment group. Gelt was self-represented.
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