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Fresno Self-Storage Facility Goes for $7 Mil

11/19/20

BCORE Storage Weber LLC paid $7.1 mil for a 543-unit ($13.1k/unit) self-storage property in Fresno. Located at 5090 N. Weber Ave, the property benefits from a large population exceeding 115,000 individuals within three miles of the site.

The 70.3k sf facility sits on 3.4 acres and offers 542 non-climate-controlled units ranging from 20 sf to 450 sf, in addition to one rental parking space. The property is equipped with video surveillance, perimeter-wide fencing and gating.

Greg Wells, Mike Mele, Luke Elliott and Devin Beasley of Cushman & Wakefield’s Self-Storage Advisory Group represented the seller, Fig Garden Self-Storage Park LLC, in the transaction.

“The amount of interest in this project is a great example of the appetite for self-storage in California,” said Wells. “The process generated a multitude of offers from a wide variety of capital sources, including REIT’s, institutional private equity, regional operators and 1031 exchange buyers.”




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