Phoenix-Based Investor Acquires 58,410 SF Pak-A-Nut Storage Facility in Bellingham for $8 Million

Marcus & Millichap recently facilitated the sale of Pak-A-Nut Storage, a 58,410-square-foot self-storage facility located at 840 Marine Drive in Bellingham, Washington. The property, which spans 5.8 acres and includes over two acres designated for future expansion, was acquired by a Phoenix-based institutional self-storage owner. The seller was a local private owner who had developed and managed the facility for two decades.

The transaction was valued at $8 million. Chris Secreto of Marcus & Millichap represented both the seller and the buyer in this deal. Following the acquisition, Public Storage is slated to take over as the third-party manager for the new ownership. This acquisition highlights continued investor interest in the self-storage sector, particularly for properties offering growth potential. For developers and investors, the availability of additional land for expansion presents a clear opportunity to increase asset value and capacity in the regional market.