Extra Space Properties Two LLC, an affiliate of self-storage real estate investment trust Extra Space Storage Inc., has purchased a two-property portfolio in Folsom and Roseville, Calif. Together, the facilities comprise 165,920 net rentable square feet of storage space in 1,109 units, according to the source.
The acquisition includes Folsom Parkshore Self-Storage in Folsom and All Size Self-Storage in Roseville. Located at 185 Parkshore Drive, the Folsom facility serves the communities of Alder Creek, Gold River, Nimbus and Orangevale. All Size at 1011 Foothills Blvd. serves residents in Antelope, Citrus Heights and Foothill Farms.
The seller, L.P.G. Associates Inc. of Rohnert Park, Calif., was represented in the transaction by Denise Nunez, senior vice president, and David Loui, associate, of real estate firm NAI Horizon.
The assets were once a part of a larger L.P.G. portfolio, which was sold separately, the release stated. In August, L.P.G. sold Continental Ranch Self Storage in Tucson, Ariz., for $7.15 million to Baron Real Property Holdings LLC.
Headquartered in Salt Lake City, Extra Space owns or operates 1,568 self-storage properties in 39 states; Washington, D.C.; and Puerto Rico. Its properties comprise approximately 1.09 million units and 119 million square feet of rentable space.
Established in 1992, NAI Horizon has offices in Phoenix and Tucson. A member of NAI Global, it’s a managed network of independently owned commercial real estate brokerage firms. It assists corporations with negotiating leases, sales, business brokerage, investments, relocation, site selection and development.
Source:
Rebusiness Online, NAI Horizon Arranges $31.5M Sale of Two-Property Self-Storage Portfolio in Metro Sacramento
