Central Coast Self Storage Property Opens Doors
- Jun 03, 2020
The William Warren Group’s StorQuest Self Storage has opened a new, 105,000-square-foot facility in Santa Maria, Calif. Development work had begun in early 2019, financed by a $10.5 million construction loan from Pacific Western Bank, according to public records.
Located on 3.6 acres at 1400 W. Betteravia St., the property is 2 miles north of Santa Maria Airport and 3.5 miles southwest of the city center. Yardi Matrix shows the facility is also within 2 miles of more than 2,700 multifamily units.
The fully fenced-in property’s units range in size from 25 to 1,156 square feet. The StorQuest facility features climate-controlled units, 24-hour security, and drive-up access. Additionally, storage space for motorcycles, cars and RVs is available on-site.
With the COVID-19 pandemic beginning to impact virtually all commercial real estate sectors, self storage properties have also begun to feel the effects. Rents—already in decline across the country—started to drop at a faster rate, though development activity still continues in most metros. However, with so much economic uncertainty ahead, developers will likely begin pumping the brakes on new projects in the sector.