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7/30/21
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A fund sponsored by CBRE Global Investors has acquired a 296.3k sf self-storage property totaling four assets with a combined 3,746 units. The facilities are in Boulder, CO, Vista, CA, Bothell, WA and Lake Stevens, WA. The fund now owns 19 self-storage assets across the United States, totaling 13,650 units.
The recently acquired assets, which were all delivered in 2020, are:
• StorQuest Boulder, located at 4790 Pearl St, includes 772 climate-controlled units across 69.1k sf
• StorQuest Vista, located at 943 South Melrose Dr, includes 899 climate-controlled units across 74.4k sf
• StorQuest Bothell, located at 21008 Bothell Everett Hwy, includes 1,155 climate-controlled units across 74.8k sf
• StorQuest Lake Stevens, located at 1113 WA-204, includes 920 climate-controlled units across 78k sf
“These recent StorQuest acquisitions are located in markets that are typically undersupplied with this product type,” said Justin Shanahan, a director with CBRE Global Investors. “Given the local market demand drivers and barriers to entry, coupled with the robust population and job growth that is present in each market, we believe we will be able to continue the robust leasing momentum at the facilities.”
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