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Spensa Buys Self-storage Facility for $3.9M

Smith Brothers Sells 367-Unit Property
March 7, 2011
Spensa Development Group LLC purchased 7375 S. Tenaya Way in Las Vegas from Smith Brothers Realty for $3.85 million, or about $57 per square foot.

Built in 2005, the 67,520-square-foot industrial self-storage facility is on 2.99 acres and zoned C-1. The 367-unit property closed after a 90-day escrow period. The complex was 20% vacant at the time of sale.

Greg Engel of Spensa Development Group LLC represented the buyer. Ryan Howse of Preston Matthews represented the seller.

Please see CoStar COMPS #2056476 for more information.

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