Victor Valley Self Storage of Victorville, CA, Sold for $3.3M
|Copyright 2014 by Virgo Publishing.|
|Posted on: 08/04/2013|
Victor Valley Self Storage and RV parking of Victorville, Calif., was sold by a private trust in May to the Doumerc-Contreras Family Trust for $3.3 million. The facility at 12250 Ridgecrest Rd. was built in 2004. It sits on 4.2 acres and comprises 65,699 square feet split into 493 units.
According to a release issued by CoStar Group, the sale represents the buyer's up leg in a 1031 Exchange.
The lender was Seattle Funding Group, according to a property summary on LoopNet.
The transaction was brokered by Roberto Munoz, a sales associate in the Los Angeles office of Marcus & Millichap Real Estate Investment Services. Munoz is part of the company's National Self Storage Group and represented both parties in the sale.
Victor Valley Self Storage offers traditional self-storage as well as outdoor parking for recreational vehicles. The facility offers discounts for military members, senior citizens and members of the local chamber of commerce. It also offers a referral credit and use of a courtesy move-in truck to existing tenants.
Marcus & Millichap has more than 1,000 investment professionals in offices nationwide and closed more than 6,100 transactions last year.