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CushWake Completes Trio of Self Storage Deals for $85M
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Three separate self storage sales transactions were closed across California totaling $84.5 million in value. The deals involved more than 340,000 rentable square feet at properties in San Diego, Los Angeles and San Jose.
The transactions consisted of:
– Fenton Street Self Storage, a recently-completed, 86,000-square-foot facility located in San Diego’s Eastlake area. The buyer was Strategic Storage Trust, which plans to operate it under the SmartStop Self Storage brand. Cushman & Wakefield’s Greg Wells represented both buyer and seller.
– Magellan Storage, Commerce (pictured) is a more than 140,000-square-foot, Class A, institutional-quality asset located in central Los Angeles. A joint venture between US Storage Centers, and an unnamed institutional private equity firm acquired the asset. Cushman & Wakefield’s Wells and David Hasbrouck handled the transaction on behalf of the seller.
– Storage Solutions, San Jose, a converted warehouse building located in the Diridon Station area of downtown San Jose, was purchased by a joint venture between Trammel Crow and Google, Inc. The property is planned to be a part of the proposed Google village campus. Cushman & Wakefield’s Wells, Eric Fox and Adam Lasoff represented the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
