Buchanan Street Partners, based in Newport Beach, CA, bought a 2.05-acre Inland Empire site at 1382 E. East Foothill Blvd., Upland, CA. Buchanan paid $6.25 million for the property in an off-market buy with a private owner/developer. It was Buchanan’s fifth California self-storage investment in recent years. The planned self-storage facility will have 1,180 units. Construction will begin immediately and the project is scheduled to be completed by January 2026.
Source: Multi-Housing News
Planned
Denise Nunez, executive managing director, and Andrew Agresta, investment sales associate at NAI Horizon, represented the seller and found the buyer in the $4.35 million sale of a permit-ready site at 19208 S. 196th St., Queen Creek, Arizona. A local developer acquired the 9.73-acre site, which is ready to build an RV/boat and self-storage facility. The planned development will consist of 149,115 NRSF, including 595 units with a mix of self-storage and RV/boat parking options. Source: East Valley Tribune
Under construction
Diamond Point Development broke ground on an 800-unit self-storage facility in Carmel, NY, in the Hudson Valley region. The multistory facility will have 81,000 NRSF of climate-controlled space. Extra Space Storage will manage the property and is developing the facility in partnership with Dallas, TX-based Rosewood Property Co. Source: RE Business Online
Bruce Goldberg
Bruce Goldberg is a freelance writer and editor based in Denver. He worked in newspapers and magazines as both a business writer/editor and sportswriter/editor for 35 years.