Lake City Mini-Storage Sells for Over $18M

Lake City Mini-Storage in Seattle, Washington has been sold for $18.5 million. Developed in the late 1980s, the two-and three-story, reinforced concrete building is approximately 72,052 SF, plus a 32,002 SF lot. Brokers Scott Clements and David Butler of ORION Commercial Partners represented both the buyer and seller in this transaction.

The sellers were four LLCs that acquired the property in 2014 for about $11.1 million. The buyer is associated with InSite, a significant force in the self-storage world.