Torrance, CA, Aug. 10, 2022 (GLOBE NEWSWIRE) -- SecureSpace Self Storage has executed the largest transaction in its company history, acquiring 11 facilities from Central Self Storage, representing over 650,000 square feet. The acquisition adds to SecureSpace’s existing presence in strategic California and Oregon markets while expanding the company’s footprint into the growing Texas market.
“In a transaction of this magnitude, achieving success always comes down to the folks involved,” said SecureSpace Head of Self Storage Acquisitions Nathan McElmurry. “First, we were fortunate to have JLL brokering the deal and can't say enough good things about how they handled their role as intermediary. Next, I want to recognize the seller, Pegasus Group, who conducted themselves as true professionals from the outset. We would also like to recognize PGIM Real Estate, who led the acquisition loan through its U.S. core-plus debt strategy and was instrumental in our timely close. SecureSpace sees this deal as transformational to our growth trajectory, and we are grateful for the stellar effort put forth by all parties involved.”
The 11-facility portfolio spans three of the highest-performing real estate markets in the country, with high-barrier-to-entry locations in the San Francisco Bay Area, Portland, OR, and Austin, TX.
The locations complement SecureSpace’s focus on dense, primary infill markets and feature average three-mile populations of over 150,000 people with average three-mile household incomes of nearly $130,000.
“This portfolio is extremely strategic to our continued effort to build a best-in-class portfolio of assets in dense, high-income urban markets,” added SecureSpace Partner Keith Wetzel “These markets have demonstrated remarkable durability over decades, and we look forward to upgrading the facilities to our SecureSpace platform to fully unlock their value.”
The 11 self-storage facilities are located at:
- California
- 324 S Main St, Milpitas, CA 95035
- 355 W Hedding St, San Jose, CA 95110
- 900 Lonus St, San Jose, CA 95126
- 6880 Santa Teresa Blvd, San Jose, CA 95119
- 2100 A St, Antioch, CA 94509
- 2721 Shattuck Ave, Berkeley, CA 94705
- 13760 E 14th St, San Leandro, CA 94578
- Oregon
- 1323 NW 16th Ave, Portland, OR 97209
- Texas
- 8200 S I-35 Frontage Rd, Austin, TX 78745
- 8327 S Congress Ave, Austin, TX 78745
- 14635 State Hwy 71, Bee Cave, TX 78738
With the 11-facility acquisition, SecureSpace’s controlled and opened property pipeline stands at nearly 3.5 million square feet of premium storage and parking.
Over the coming months, the facilities will be rebranded as SecureSpace Self Storage and will be upgraded with state-of-the-art security, contactless rental processes, and more.
About SecureSpace Self Storage
Relax. It’s safe at SecureSpace.
Based in Torrance, California, SecureSpace Self Storage is dedicated to providing its customers with a hassle-free self-storage experience. All SecureSpace facilities provide the latest amenities for securing customers’ belongings.
We look forward to serving you and satisfying your storage needs - please visit www.SecureSpace.com to make a reservation or learn more today.
