Harbour Point Self Storage in Elk Grove, Calif., sold to private investors for $5.7 million. The seller was CJM Property Management Inc. The facility is a class-A property and consists of 570 storage units and 75 RV/boat spaces. At the time of the sale, the facility was more than 90 percent full.
Carl Touhey and Jason Allen of Performance Self Storage Group Inc. represented the buyer and seller. The property received seven offers in six days. Todays self-storage investors want large facilities in good locations with strong demographics, Touhey said. This property represented exactly what investors want today.
Performance Self Storage (PSSG) specializes in self-storage brokerage throughout California. PSSG donated a portion of the commission, $2,000, to Kure It, a non-profit organization dedicated to funding innovative kidney and other cancer research.
The company became involved in the charity after Allen and Touhey learned about it at a recent event hosted by the California Self-Storage Association. We were moved by the Kure It presentation and knew we had to get involved, Allen said. The two committed to donate a percentage of their commissions from future self-storage transactions in which they are involved.
Founded by Barry Hoeven, a self-storage industry professional, Kure It has benefited from the generosity of many self-storage vendors, owners and individuals in the industry who are committed to doing what it takes to find the kure.
We are grateful for PSSGs support of our mission. They are an inspiration to others in the industry who are likely to follow the example set by Jason and Carl, said Karen Jones, director of Kure It.
