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Hesperia Self-Storage Facility Sells to NYC Buyer
JLL Capital Markets completed the sale of Bear Valley RV Park and Self Storage, a 726-unit self-storage facility in the Inland Empire community of Hesperia. A JLL Capital Markets Self-Storage team led by managing director Brian Somoza represented the seller and procured the buyer, Merit Hill Capital, a New York City-based real estate investment firm that is focused on self-storage.
“Self-storage as an asset class has been extremely resilient and has consistently performed well relative to other asset classes over the past five-, 10- and 15-year periods,” Somoza said. “Due to this, Bear Valley was extremely well-received by the market and we had a significant amount of investor interest given its location and historic performance in a growing market in California.”
Bear Valley RV and Self Storage is positioned on a 49.6-acre site at 18435 Bear Valley Rd., which has a daily traffic count of more than 52,500 vehicles. Additionally, the property is just east of Interstate 15, which runs through Las Vegas, Salt Lake City and north to Canada.
- ◦Sale/Acquisition
