Wednesday, July 11, 2012

Bancap Self Storage Group Brokers Santa Clarita Storage Property


We recently announced that Bancap Self Storage Group successfully brokered the sale of the Keep It Self Storage property located in the Valencia area of the city of Santa Clarita, California.  Dean Keller, the firm’s president, was the sole broker in the transaction.  The seller was a private self storage partnership that originally developed the property.  The buyer was a publicly traded REIT which will re-brand the property with its name.

This is a very desirable first class property located in a growing market with high barriers to entry. It is also one of the nicest and newest storage facilities in the area.  It should perform very well for the buyers.

The property sold on an “all cash” basis for an undisclosed price as part of a two-property transaction valued at over $25 million.  The portion of the price allocated to this property reflected an indicated price of over $130 per net square foot. The property, which opened in 2009, was still in lease-up and was approximately 70% occupied at the time of sale.

The Keep It Self Storage property is located in the Rye Canyon business park of Valencia at 28111 Kelly Johnson Parkway.  The facility contains over 104,000 net square feet of self storage space divided into nearly 1,000 units, plus an additional 43 exterior RV storage spaces.  The buildings are constructed of concrete block and stucco with metal partitions, roofs and doors. 

There has only been a handful of class A storage properties sold in Southern California in the past few years and we have been the exclusive broker for most of them.  The market for these types of properties is very strong.  But self storage is such a unique property type that it takes a specialist with proven expertise and experience to maximize value for sellers in this unique property niche.

7 comments:

  1. It is great that Bancap Self Storage Group has constructed self storage property. It will now easy to me to store all types of extra products whenever I will be out of station or have to move anywhere. Even it is great that this group have designed different size of storage to store different products specially books, paper for students in Student Storage Solutions.

    ReplyDelete
  2. Hi, I found your post really helpful. It helped me all the way in completing my assignment, I am also giving a reference link of your blog in my case study. Thanks for posting such informative content. Keep posting
    redding storage units

    ReplyDelete
  3. Thanks for posting this article. I really like my self storage unit and I don't know what my wife and I would do with out one, the extra space for all of our random stuff that we have.

    ReplyDelete
    Replies
    1. Yes, Self storage is very important if you have a lot of stuff inside your house and you don't know where to place it. My solution is to rent one of space storage near in my location.

      Storage Boxes

      Delete
  4. This comment has been removed by the author.

    ReplyDelete
  5. Self storage space is safe to provide storage services to the people who are coming for keeping their luggage and household goods.

    ReplyDelete
  6. I’m impressed, I must say. Really rarely do I discover a blog that is both informative and entertaining, and let me tell you, you’ve hit the nail on the head. Your post is outstanding; the matter is something that not enough people are talking intelligently about. I am really happy that I stumbled across this in my search for something relating to this.
    self storage in Glen Waverley

    ReplyDelete