Marcus & Millichap announced the sale of StorQuest Self Storage on November 10, 2026: a 700-unit, 74,900-square-foot facility at 9240 N. 67th Ave. in Glendale, Arizona. Marketing cited occupancy below 80% in a pocket with 163,000 residents within three miles and nearly 25,000 vehicles per day on North 67th Avenue.
The trade is classic 1980s infill metal: seven single-story buildings on 3.7 acres, drive-up only, with RV and boat parking. Buyers get demographics without stabilization.
Why Did Marcus & Millichap Lead With Occupancy Under 80%?
Adam Schlosser, executive managing director investments, framed the asset as established scale plus lease-up runway:
"With the property below 80% occupied at the time of sale, the new owner has meaningful lease-up upside in a trade area that already has the demand to support it."
That language tells you how 2026 underwriting differs from 2021. Sellers are not pretending 90%+ occupancy is universal. Brokers are pricing operational lift into the OM headline.
Unit sizes run 5-by-5 through 20-by-20, all ground-level drive-up, plus 25 open parking stalls. Built 1984, the product is not climate-controlled trophy stock. It is West Valley density with a rate and marketing problem, not a location problem.
Charles "Chico" LeClaire's Denver team paired with Ryan Sarbinoff, Marcus & Millichap's Arizona broker of record. No price or buyer name hit the public release.
What Makes the West Valley Trade Area Compelling?
Schlosser anchored demand with population inside three miles and traffic counts, not generic Phoenix MSA statistics.
| Marketing stat (M&M release) | Implication |
|---|---|
| 163,000 residents within 3 miles | Infill household base |
| ~25,000 vehicles/day on N. 67th Ave. | Drive-by visibility for self-storage |
| Below 80% occupancy | ECRI and concession room |
| 700 units / 74,900 SF | Scale for third-party management or REIT systems |
Glendale sits in the West Valley, where Sun Belt supply debates still show up in Yardi and TractIQ rate data. Infill 1980s vintage assets can still trade if lease-up is honest in the broker quote.
Compare to Oxford's Phoenix industrial portfolio buy: logistics investors chase Tempe and Airport submarkets while storage buyers hunt rooftop counts along commuter arterials.
How Does StorQuest Branding Affect the Buyer?
The seller operated under StorQuest, a brand tied to William Warren Group's 2026 fund contributions. The Glendale asset is a one-off disposition, not a fund roll-up.
Buyers typically weigh three post-close paths:
- Rebrand to a local or regional flag and plug into revenue management software.
- Hold the StorQuest sign and harvest lease-up with existing marketing URLs.
- Fold into a platform like SecureSpace's Texas expansion model.
None require new development entitlements; this is management alpha on existing concrete.
Where Does the Deal Sit in November 2026 Liquidity?
November's tape mixes scale and singles:
- Platform: Heitman Talli Nordic, 15 sites
- Public capital: SmartStop $37 follow-on
- Brokered value-add: Glendale StorQuest sub-80% occupancy
ISS's November transaction column shows the same pattern: investors still close Sun Belt and coastal singles while REIT earnings improve.
For sellers, Schlosser's quote is the playbook: disclose occupancy honestly, anchor traffic and population, and let buyers underwrite ECRI instead of cap rate fiction.
The Numbers Worth Writing Down
- Units: 700
- Net rentable area: 74,900 SF on 3.7 acres
- Vintage: 1984, seven metal buildings
- Occupancy at marketing: below 80%
- Trade area: 163,000 residents within 3 miles
- Traffic: ~25,000 vehicles/day on N. 67th Ave.
- Parking: 25 open vehicle/RV/boat spaces
- Announcement: November 10, 2026
Sub-80% Is a Feature Now
Glendale's StorQuest sale proves 2026 buyers still pay for scale when brokers pair under-occupancy with hard traffic counts. That is the same operator confidence SmartStop's equity offering assumes at the public end of the market.
If you are selling a similar West Valley asset, lead with vehicles per day, not vintage year. The market is leasing operations, not just paving lots.
Sources
- Marcus & Millichap Arranges the Sale of StorQuest Self Storage in Glendale, Arizona, Marcus & Millichap, November 10, 2026
- Self-Storage Real Estate Acquisitions and Sales: November 2026, Inside Self-Storage, November 5, 2026
- SecureSpace DFW All Storage Portfolio, Your CAIO, November 2026
- TractIQ Street Rates September 2026, Your CAIO, November 2026