The Cushman & Wakefield Self Storage Advisory Group has been retained as exclusive advisors to offer for sale the Storage Solutions 2 Property SoCal Portfolio.
This offering presents a unique opportunity to acquire two (2) physically stabilized self-storage projects in the Coastal Orange County and Los Angeles markets. Both locations offer very compelling demographics (average population 121,000, average incomes of $122,000), high barrier to entry markets, and smaller size assets that will provide greater opportunity to maintain high occupancy and drive rental rate growth.
Capistrano Beach is an affluent coastal city with an average household income of $151,400 and average home prices exceeding $2,000,000. The site is strategically located less than ¼ mile from the Pacific Ocean just off the Interstate 10 and CA-Hwy 1 interchange adjacent to high-end residential and major retail developments. The trade area has extremely high barriers to entry for new competition and high average rental rates ($2.40/SF).
Pomona is in eastern Los Angeles County between Interstate 10 and Highway 60. It is mid-way between the Los Angeles and Inland Empire metropolitan areas that have a combined population of over 24 million residents. The area is densely populated with over 165,000 people within 3 miles and provides easy access for residents to the major employment hubs in Los Angeles, Riverside & Ontario. The property offers an opportunity for in-place yield as well as considerable upside with pushing in-place rents to market levels. The project is all single-level and has over 86% drive-up access.