TerraForm Cos. Sells Utah Storage Facility
The property last traded in September 2021.
Wentworth Property Co. has acquired Layton Antelope & Main, a 78,210-square-foot self storage facility in Layton, Utah, according to public records. The asset last traded in September 2021, when TerraForm Cos. paid $4.2 million for it, Yardi Matrix data shows.
Senior Associate Jordan Farrer and Senior Vice President of Investments Adam Schlosser of The LeClaire-Schlosser Group represented both parties in the transaction. Public Storage will take over the property management duties from Extra Space Storage.
Completed in 2019, the property comprises 682 non-climate and climate-controlled units, varying from 25 to 510 square feet, with security features and parking options. Located at 2010 N. Main St., in a considerably penetrated area, the facility is among the 35 available ones within a 3-mile radius, offering residents 20.3 net rentable square feet per capita, almost three times above the 7 national average.
Layton Antelope & Main is next to a traffic count of more than 75,000 cars per day and is located within 2.6 miles of Hill Air Force Base. The facility also reached 88 percent occupancy in one year, according to The LeClaire-Schlosser Group.
Wentworth Property Co. continues to expand the firm’s storage portfolio, which holds almost 1.9 million square feet. At the end of last month, the company acquired Utah Valley Storage and RV, another 76,344-square-foot asset in Orem, Utah.