Kangaroo II Self-Storage, a 73,325-square-foot storage facility in Loveland, recently sold for $4.95 million, according 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 Marcus & 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, executive managing director investments. “New supply is beginning to affect values in certain areas, but the broader market as a whole is still performing well.”
Northern Colorado continues 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 underway in the northeastern part of the city.
The LeClaire Group has sold 40 self-storage properties this year.
