Life Storage Buys Two California Facilities
- Jun 07, 2017
Life Storage Inc. and one of its joint venture partners acquired two self-storage properties in Lancaster and Palmdale, Calif. The off-market transaction was mediated by Lee & Associates, who represented the seller—Martin Properties Inc. The new owner will re-brand and manage the newly acquired facilities on behalf of its joint venture.
The first facility is located at 2103 W Ave. J in Lancaster, Calif., and features 774 units and 60 RV storage spaces. The second property is situated at 380 W Palmdale Blvd. in Palmdale, Calif., and offers 616 units plus 122 RV spaces. This asset also includes land entitlements for another 36,000 square feet of storage space. Both facilities have freeway visibility.
“These are two of the best self-storage facilities in the Antelope Valley and the Palmdale facility also included land entitled for additional self-storage development,” John Battle, principal & managing director of Lee & Associates-LA North/Ventura, said in a prepared statement.
Image courtesy of Life Storage