Los Angeles Area Self Storage Property Sold

Los Angeles Area Self Storage Property Sold

Rosemead, CA, February 08, 2024 — Bancap Self Storage Group announced it brokered the sale of Stor-Mor Self Storage located on Valley Boulevard in the city of Rosemead, Los Angeles County, Southern California. The property offered investors a rare opportunity to purchase a well-located, privately owned storage facility in Los Angeles County that had always been owner managed. Dean Keller, the firm’s president, was the exclusive listing agent and sole broker of the transaction. The seller was the partnership that originally entitled and developed the property in 1979. The buyer was a privately held national self storage owner/operator.

The three-level facility is located on the heavily travel Valley Boulevard in a market that is underserved for self storage facilities. The property has over 44,500 net square feet demised into approximately 660 indoor storage spaces, plus 85 outdoor vehicle storage spaces. The property was approximately 95% physical occupancy.

“Buyers always say they would love to find an independently managed facility with excess land or vehicle storage on a major boulevard in LA or Orange County. This was one of those rare opportunities to buy that,” said Dean Keller. “There was a lot of interest and offers from a wide range of national, regional and local investors.”

Bancap Self Storage Group is one of the top self storage specialist brokers in the industry. Dean Keller has specialized in self storage investments and has been a leader in the industry for nearly 40 years.

You May Also Like

More From Author

+ There are no comments

Add yours