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California  + Los Angeles  + Retail  | 

Hines Snags Cerritos Self-Storage for $91M

CBRE arranged the sale of Extra Space Storage in Cerritos to Hines for $91 million. Nick Walker and Trevor Roberts of CBRE’s Self Storage Advisory Group represented the seller, a joint venture between Los Angeles-based self-storage developer Capital 360, LLC and Charlotte-based global investment firm Barings.

The 260,273 square-foot, three-story facility is located at 17900 Crusader Ave. on a 4.95-acre site adjacent to the I-605 freeway. Originally constructed in 2020, the asset is comprised of 2,460 storage units. The facility was more than 88% occupied at the time of sale.

“This is the largest single-property self-storage sale in history and our team fielded many competitive offers throughout the marketing process,” said Walker. “This asset offers cutting-edge technology and is strategically located within a highly populated area within Los Angeles County with superb demographics. The quality of the asset is truly unmatched.”

The site was originally purchased by Capital 360 and Barings in 2018.

Read More News Stories About: CBRE, Hines
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CBRE's Walker

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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