IOS Site Trades for Redevelopment into Self-Storage
Avison Young finalized the $2.68-million sale of a 1.41-acre industrial outdoor storage (IOS) property that will be redeveloped as an approximately 90,000-square-foot self-storage facility. Located at 943 N. Marianna Ave. in Los Angeles, the site is just east of downtown Los Angeles and provides immediate access to the 10, 710, and 60 freeways.
Principal Patrick Barnes and senior associate Paul Clark represented the seller, a family trust. The buyer, Los Angeles-based Cypress Equity Investments, represented itself.
“Our team focused our marketing strategy and outreach to the self-storage industry as we knew would garner the strongest land value for our client,” said Barnes. “Cypress’ relevant construction experience was the key to this transaction as it is situated on a difficult site to develop.”
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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).