Press Releases
Marcus & Millichap Arranges Sale of Self-Storage Development Site in San Jose, California
October 30, 2026
SAN JOSE, Calif., Oct. 30, 2026 — Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 0.76-acre self-storage development site.
“This deal took some patience to work through the city's jurisdictional requirements, but the strength of the location made it worth the effort,” said Dean Trammell, director investments. “Buchanan Street navigated the process seamlessly, and San Jose will gain a new self-storage facility in one of the Bay Area's most in-demand submarkets.”
Trammell, in association with Sebastian Gaetani, Marcus & Millichap's San Francisco market leader, exclusively marketed the property on behalf of the seller. The buyer, Buchanan Street Partners, a national private self-storage investor and developer, was represented by Feerooz Yacoobi and Jon Suddarth.
“We are very excited about the San Jose development,” said Suddarth. “We are very bullish on San Jose, and this will be our third self-storage project currently under construction in the Bay Area. The site is located in a densely populated residential neighborhood with favorable supply-and-demand metrics, and the facility will also benefit from major freeway visibility.”
Located at 2444 Gimeli Way, the 0.76-acre site is planned for approximately 80,000 net rentable square feet of self-storage space. Construction was scheduled to begin in September 2026, with completion anticipated in late 2027.
“This deal took some patience to work through the city's jurisdictional requirements, but the strength of the location made it worth the effort,” said Dean Trammell, director investments. “Buchanan Street navigated the process seamlessly, and San Jose will gain a new self-storage facility in one of the Bay Area's most in-demand submarkets.”
Trammell, in association with Sebastian Gaetani, Marcus & Millichap's San Francisco market leader, exclusively marketed the property on behalf of the seller. The buyer, Buchanan Street Partners, a national private self-storage investor and developer, was represented by Feerooz Yacoobi and Jon Suddarth.
“We are very excited about the San Jose development,” said Suddarth. “We are very bullish on San Jose, and this will be our third self-storage project currently under construction in the Bay Area. The site is located in a densely populated residential neighborhood with favorable supply-and-demand metrics, and the facility will also benefit from major freeway visibility.”
Located at 2444 Gimeli Way, the 0.76-acre site is planned for approximately 80,000 net rentable square feet of self-storage space. Construction was scheduled to begin in September 2026, with completion anticipated in late 2027.
# # #
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.
