Hillsdale Self Storage in San Jose CA Sold for $4,850,000 to
Extra Space Storage.
Performance Self Storage Group (PSSG) is happy to announce
it recently sold Hillsdale Self Storage in San Jose CA to Extra Space Storage.
Hillsdale Self Storage is located on Charter Park Drive and consists of 33,318
net rentable square feet with 369 self storage units. The facility has multiple
stories and at the time of sale was 95% physically rented.
The buyer, Extra Space Storage, is a publicly traded company
with over 870 self storage facilities nationwide.
Carl Touhey and Jason “Jay” Allen co-own Performance Self
Storage Group, represented both the buyer and seller. “This transaction was
unique in the fact that Extra Space Storage had to deal with the daunting task
of assuming a conduit loan, which took a considerable amount of time to
accomplish. Today’s self storage investors are lining up to buy assets similar
to this in strong core markets throughout the Country. They prefer the larger
facilities to take advantage of the economies of scale, but this asset fit
perfectly in Extra Space’s portfolio,” Touhey said.
Performance Self Storage Group specializes in self storage
brokerage, marketing and consulting, with offices in CA and FL.
1 comment:
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