A self-storage facility in Sonoma County, Calif., that specializes in wine storage will be up for sale in June to satisfy an $11.1 million loan to Sonoma Valley Bank.
SSE LLC owns Sonoma Storage Emporium, a four-acre 721-unit self-storage complex with 36,000 square feet of refrigerated wine storage. The facility has been on the market for sale at $17 million, then reduced to $15.5 million. The trustee’s sale is set for June 22 at 11 a.m. at the Petaluma Community Center.
In the past four years, SSE developed four self-storage facilities in the North Bay region, including locations in Larkspur, Santa Rosa, San Rafael and Novato.
Devon Self Storage, a self-storage facility investment and management company, was hired in April to operate the facility in Santa Rosa, according to news reports. The 248-unit Novato facility is also listed for sale at $5.8 million.
Source: North Bay Business Journal, Commercial Real Estate
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