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Cushman & Wakefield Announces Sale of Nest Self Storage Portfolio in Salem, Oregon

PORTLAND, Ore., December 15, 2020 – Cushman & Wakefield announced today the firm has completed the sale of the Nest Self Storage portfolio located in Salem, Oregon near Portland.

Nest Storage Salem

The two-property portfolio was recently completed and approximately 85% occupied at closing. The properties total 166,877 rentable square feet in 1,135 storage units. Both facilities are located in high exposure locations with excellent access to Interstates 5.

The buyer was global real estate investment manager Invesco Real Estate, in partnership with Baranof Holdings, who plans to rebrand the facilities. Greg Wells, Jim Lewis, Luke Elliott and Mike Mele with Cushman & Wakefield’s Self Storage Advisory Group handled the transaction. The seller included MWIC Parkway, LLC and MWIC Turner Road LLC, the original developers of the property.

“The opportunity to acquire a newly built portfolio of single-story drive up assets in a fast growth Pacific Northwest market is rare,” said Greg Wells.

"There was tremendous interest in these properties which is a demonstration of the strength of the product type as well as the location and performance of these particular properties,” added Jim Lewis.

“The Nest assets are in excellent locations within the Salem market and have solid upside potential,” said Steve Cobbs, Associate Director, Transactions at Invesco Real Estate. “These assets make an excellent addition to Invesco’s growing self storage portfolio.”

The Cushman & Wakefield Self Storage Advisory Group is a full service real estate platform dedicated to the self storage asset class. The group offers investment advisory, valuation, consulting, feasibility and data services in all major markets in the U.S.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit


Joshua Deale San Diego Communications Manager
Joshua Deale

Communications Manager • Costa Mesa

Mr. Deale leads strategic media relations and thought leadership efforts for the West Region markets, and oversees their online presence including managing article and social media efforts.

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