The facility has been acquired for $2 million
June 6, 2017: SuperStorage, sponsored by California-based self-storage operator has recently acquired A-1 Sierra Storage in Santa Clarita, California, the company will brand the property under its name. The operator plans to make improvements to marketing and operations to increase the facility’s cash flow and value, according to the release.
“This was one of those deals that everyone says they want, but few are ever able to actually buy—especially in Southern California,” said Bancap president Dean Keller, who brokered the transaction. “With a strong Los Angeles County market location, no professional management, no computerized operations and significant upside potential, I expect the buyer to do very well with this property.”
The single-story asset at 17175 Sierra Highway in the Canyon Country area has 37,000 square feet in approximately 400 units, which were mostly converted from storage containers, according to a press release from Bancap Self Storage Group Inc., the commercial real estate firm that brokered the deal.
The asset had operated as a family-owned business since 1982 and was sold by three siblings who inherited the facility from their father, the original developer.