Los Angeles, CA – March 15, 2022 – Senior Associate Steven Berman, with NAI Capital Commercial’s Investment Service Services Group negotiated the purchase of a self-storage facility totaling 52,400 square feet in Ontario, California. Steven represented the buyer, CE Development Management, LLC, in the transaction. The seller was a private ownership group. The sale price totaled $8,250,000 or $157 per square foot.
Discount Self Storage is located at 1215 E Airport Dr within the West Inland Empire industrial submarket. Built in 1989, the two-story self-storage facility contains 367 units of various sizes, features 4 freight elevators, and private mailbox rentals. The facility is in a central location with high visibility on the corner of a high traffic street at E Airport Dr and S Grove Avenue. Discount Self Storage is adjacent to the Ontario International Airport, minutes from the Interstate 10 Freeway.
The facility was 95% leased at the time of the sale. The new owner plans to hold the self-storage facility as a long-term investment.
Steven said, “Multiple new high density housing projects have been constructed in the area creating an increased demand for storage units. This property is an excellent investment opportunity with huge potential for increased profits for my client.”
About NAI Capital Commercial
NAI Capital Commercial is the largest agent and employee-owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, a leading global commercial real estate services firm with more than 375 brokerage offices and over 6,000 professionals spanning the globe, NAI Capital Commercial provides a complete range of transaction, valuation, investment, and consulting services. By leveraging our local expertise with our global reach, NAI Capital Commercial offers innovative, customized solutions and seamless service to owners, tenants, investors, and developers throughout Southern California. Our clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital Commercial we work together putting our clients first.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 6,000 local market professionals, managing in excess of over 1.15 billion square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.