US Storage Centers Expands in Los Angeles
- Jan 30, 2018
US Storage Centers has acquired a 140,048-square-foot self-storage facility in Commerce, Calif. Cushman & Wakefield arranged the deal on behalf of the seller, Magellan Storage, and represented the buyer. US Storage owns and operates 16 facilities in the Los Angeles area.
The facility occupies nearly four acres at 5415 East Olympic Blvd., just off interstates 5 and 710 and within 15 minutes of downtown Los Angeles. The area is densely populated, and nearly 68 percent of the people live in rented houses. Completed in 1964, the six-building facility features 1,347 units, ranging from 25 to 560 square feet. Common amenities include a gate, drive-up access, security camera, indoor and climate-controlled units.
“Southern California is a very strategic region for our firm with its density and continued population growth,” said Charles Byerly, president & CEO of US Storage Centers, in prepared remarks. “We will continue to grow our presence in Los Angeles, Orange County and other key regions of the state.”
The company has recently completed the construction of a 1,120-unit self-storage facility in North Miami. The development marked US Storage Center’s seventh asset in the area.
Cushman & Wakefield’s Greg Wells represented both parties in the transaction.
Image courtesy of Us Storage Centers