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2/25/22
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Buchanan Street Partners has acquired a new, 95.5k sf three-story, climate-controlled self-storage facility in Chino Hills for $24.5 mil in an off-market transaction. The facility, located at 15443 Fairfield Ranch Rd, is comprised of 920 self-storage units.
Buchanan acquired the property upon completion of construction at certificate of occupancy. The new class A self-storage facility sits in a retail center adjacent to the 71 Fwy, at the Soquel Canyon Pkwy/ Central Ave exit. Westport Properties Inc will act as third-party manager for the facility, operating the property under their US Storage Centers brand.
The new facility offers best-in-class climate-controlled storage space and incorporates new industry proptech with the Noke Smart Entry access system by Janus, allowing tenants to wirelessly gain access into the facility and their storage unit.
Buchanan recently acquired two other new self-storage facilities in southern California including acquisitions in Chula Vista and Vista. The firm intends to build a $500 mil portfolio of institutional quality self-storage assets throughout the Western U.S. Buchanan is also an active direct lender for self-storage bridge and construction financing.
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