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Marcus & Millichap

PLEASANT GROVE – Marcus & Millichap Real Estate Investment Services, a real estate investment services firm, has announced the sale of Blue Ribbon Storage, a 475-unit self-storage facility located in Pleasant Grove, according to Richard A Bird, regional manager of the firm’s Salt Lake City office. The property sold for an 8.8 percent cap rate. Jason Smith, an investment specialist in Marcus & Millichap’s Salt Lake City office, represented the local buyer, Blue Ribbon Storage Solutions LLC.