Self-Storage Property Sold to Extra Space Storage at Certificate of Occupancy
San Diego, CA, Monday, December 14, 2015–NAI Capital, announced that it recently completed the sale of Del Sol Self Storage located in the City of San Diego, Calif. Stephen Grossman, Senior Vice President was the sole broker of the transaction. The seller was privately held M4 Management, Inc. from Beverly Hills, California. The buyer was Extra Space Storage (NYSE: EXR) a national owner/operator of self-storage facilities with over 1,300 self-storage properties in 35 states.
Del Sol Self Storage is a well located, modern designed, two-story self-storage property located at 3055 Del Street in San Diego. The transaction was one of the largest one-off self-storage deals in San Diego in many years. The property has almost 60,000 net rentable square feet of self-storage space as well as 73 RV and boat storage spaces. The facility also includes amenities such as an on-site rental office, climate control and surveillance cameras throughout the property. The property is well situated to serve the U.S./Mexico border business community. The property sold for $9,500,000.
Grossman said, “This is the first Certificate of Occupancy self-storage property sold in California. Other well located C of O deals are in the pipeline and I look forward to bringing these properties to the market. It is also a great time to consider selling stabilized self-storage assets. Selling prices are historically high and it’s an opportune time for an owner to monetize their asset.”
About NAI Capital
NAI Capital Company is one of Southern California’s leading full-service commercial real estate organizations, providing a complete range of transaction, valuation, investment, property management and consulting services. NAI Capital is one of the largest members of NAI Global, a premier real estate service network with 375 offices and 6,700 market leaders spanning the globe. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, corporate occupants and investors throughout Southern California. Since 1979, NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #00806840
To learn more, visit www.naicapital.com
About NAI Global
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges.
NAI Global was acquired in 2012 by C-III Capital Partners, a leading commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, online capital markets, title services and multifamily property management. C-III’s principal place of business is located in Irving, TX, with additional offices in New York, NY, Greenville, SC and Nashville, TN.
To learn more, visit www.naiglobal.com
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