Lakeside Self Storage in Lakeside, Calif., recently sold for $2.8 million to Lakeside Storage I LLC, a California-based limited-liability company that operates 12 SuperStorage locations in the Central Coast and Southern California. The 266-unit property at 10046 River St. sits on 2.43 acres of land and includes 43,675 square feet of storage space in four buildings. The new owner plans to modernize and upgrade the facility, according to the source.
The seller was Sandoval Construction Inc., which took back a trust deed for $2 million, the source reported. Clifford Crowe, principal of commercial real estate firm Lee & Associates, and Garret Sholer, vice president of investments in the firm’s Carlsbad, Calif., office, represented both parties in the transaction.
In addition to residential and commercial self-storage, SuperStorage facilities also act as drop-off locations for electronic waste as well as collection sites for Cell Phones for Soldiers, a non-profit organization that provides communication services to active-duty military members and veterans. The company donates a portion of the proceeds from the e-waste collection effort to Project Surf Camp in Morro Bay, Calif., which offers ocean-experience therapy to adults and kids with special needs.
Lee & Associates is a broker-owned firm with locations nationwide. It has more than 800 brokers and provides specialized services on a local, regional and national level.
Sources:
- San Diego Source: Self-Storage in Lakeside on River Sold
- SuperStorage: Website
