Buchanan Picks Up Another SoCal Self-Storage Property
Buchanan Street Partners (Buchanan) has acquitted 920 self-storage units in Chino Hills, Calif., for $24.5 million. The 95,500-square-foot facility was moved in an off-market transaction with a private developer.
The sale seems part of a recent trend for Buchanan, with this being its third purchase of similar facilities in the past year.
The Class A property (at 15443 Fairfield Ranch Rd.) is within a retail center near the 71 freeway’s Soquel Canyon Parkway/ Central Avenue exit.
“We’re thrilled to add this new facility to our storage portfolio. The Chino Hills transaction is an excellent opportunity for us to build presence within a strong market of the rapidly-growing Inland Empire. We feel this property is ideally situated to serve the residents and businesses of Chino Hills,” said Feerooz Yacoobi, vice president, Buchanan Street Partners.
Buchanan’s other recently acquired self-storage facilities in southern California are in Chula Vista and Vista, Calif.