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8/22/22
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In a national self-storage buy, SecureSpace Self Storage acquired an 11-property, best-in-class self-storage portfolio totaling 6,550 units in three high-performing real estate markets: the San Francisco Bay Area; Portland, OR; and Austin, TX. The properties were sold by Pegasus Group-sponsored investments.
Primarily concentrated within the San Francisco Bay Area, the portfolio was a truly unique aggregation of best-in-class real estate in a market that rarely sees scale of this type come up for sale, coupled with more recently built Class A facilities in the highly desirable growth markets of Austin and Portland. Comprising over 650k sf, the portfolio was highly sought after by a mix of capital sources as investors continue to push allocations in real estate and particularly alternatives such as self-storage.
Operating under the Central Self Storage brand, the institutional-quality portfolio includes the following properties:
• 2100 A Street, Antioch, CA
• 2721 Shattuck Ave, Berkeley, CA
• 324 S Main St, Milpitas, CA
• 6880 Santa Teresa Blvd, San Jose, CA
• 900 Lonus St, San Jose, CA
• 13760 E 14th St, San Leandro, CA
• 355 W Hedding St, San Jose, CA
• 1323 NW 16th Ave, Portland, OR
• 8200 South I-35 Service Rd, Austin, TX
• 14635 West SH-71, Bee Cave, TX
• 8327 S Congress Ave, Austin, TX
Brian Somoza, Steve Mellon, Matthew Wheeler, Adam Roossien and Jake Kinnear with JLL Capital Markets represented the seller in the transaction.
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