Press Releases
Marcus & Millichap Facilitates $8 Million Sale of Pak-A-Nut Storage in Bellingham, Washington
October 12, 2026
BELLINGHAM, Wash., Oct. 12, 2026 — Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the $8 million sale of Pak-A-Nut Storage, a 58,410-square-foot self-storage facility in northwest Washington.
“The seller built and self-managed the facility for 20 years, while the buyer is an institutional self-storage owner making its first acquisition in Washington,” said Chris Secreto, senior managing director investments. “Despite a somewhat-oversupplied self-storage market in the greater Bellingham area, the property provides the buyer with significant opportunity to increase occupancy and potentially expand the facility.”
Secreto, an investment specialist in Marcus & Millichap's Seattle office, exclusively marketed the property on behalf of the seller, a local private owner, and procured the buyer, a Phoenix-based institutional self-storage owner.
Pak-A-Nut Storage is located at 840 Marine Drive, about 20 miles south of the Canadian border. Built in 2006, the 58,410-square-foot facility sits on 5.88 acres. Public Storage will serve as third-party manager for the new ownership, which plans to stabilize occupancy at the property. The site also includes more than 2 acres of land with potential for future expansion.
“The seller built and self-managed the facility for 20 years, while the buyer is an institutional self-storage owner making its first acquisition in Washington,” said Chris Secreto, senior managing director investments. “Despite a somewhat-oversupplied self-storage market in the greater Bellingham area, the property provides the buyer with significant opportunity to increase occupancy and potentially expand the facility.”
Secreto, an investment specialist in Marcus & Millichap's Seattle office, exclusively marketed the property on behalf of the seller, a local private owner, and procured the buyer, a Phoenix-based institutional self-storage owner.
Pak-A-Nut Storage is located at 840 Marine Drive, about 20 miles south of the Canadian border. Built in 2006, the 58,410-square-foot facility sits on 5.88 acres. Public Storage will serve as third-party manager for the new ownership, which plans to stabilize occupancy at the property. The site also includes more than 2 acres of land with potential for future expansion.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
