CREJ

December 5-18, 2018 - Page 17 www.crej.com by Jill Jamieson-Nichols Kangaroo II Self-Storage, a 73,325-square-foot storage facility in Loveland, recently sold for $4.95 million, accord- ing to Larimer County records. The property is located at 100 Valency Drive, off U.S. Highway 287 and 14th Street Southwest. Kangaroo II Self Storage LLC, a local, private entity, sold the property to CSGBSH Loveland CO I LLC, an East Coast investment fund. The LeClaire Group of Mar- cus & Millichap handled the transaction. “We continue to experience high demand for cash-flowing self-storage facilities along the Front Range,” said Adam Schlosser, Marcus & Millichap first vice president investments, who handled the sale with Charles “Chico” LeClaire, exec- utive managing director invest- ments. “New supply is begin- ning to affect values in certain areas, but the broader market as awhole is still performingwell.” Northern Colorado contin- ues to be a fast-growing part of the state, and Loveland is no exception. The Foundry, a major redevelopment, is bringing new apartments, hotel rooms and a movie theater to downtown Loveland, and the $500 million Brands at the Ranch is under- way in the northeastern part of the city. The LeClaire Group has sold 40 self-storage properties this year. s Kangaroo II storage jumps off the market at price of $4.95 million Self-storage by Jill Jamieson-Nichols GYS Development sold two Class A self-storage facilities in Fort Collins and Colorado Springs to an out-of-state buyer. The transaction included Tim- berline Self Storage at 2120 Mid- point Drive in Fort Collins and Northgate Self Storage in Colo- rado Springs. Timberline Self Storage is a 564- unit property that opened inOcto- ber 2017. The facility consists of 11 single-story buildings totaling 86,522 gross leasable square feet. Northgate Self Storage is located at 791 Copper Center Parkway in Colorado Springs. It was built in 2011 and consists of 791 units in a four-story building totaling 114,000 sf. Both properties offer a combi- nation of climate-controlled and drive-up units, along with leas- ing offices, security systems and online renting capability. The name of the buyer and prices weren’t released, and the transactions had not been recorded by press time. GYS Development is a vertically integrated real estate development company that focuses on the self- storage industry in the Western United States. It is owned and operated by Lee Fredrick and Brandon Grebe. GYS managed all aspects of the real estate life cycle for the two assets, from sourcing the deals through development and con- struction, and disposition. The company is working on develop- ing and acquiring facilities in Col- orado, Texas, Arizona, California andWyoming. s GYS Development sells 2 self-storage facilities Kangaroo II sits off U.S. Highway 287 and 14th Street Southeast in Loveland. Northgate Self Storage consists of 114,000 square feet of space. GYS Development completed Timberline Self Storage in 2017.

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