American Mini Storage in Palm Desert, Calif., recently sold for $3.9 million. The 57,500-square-foot, 411-unit self-storage facility sits on 3.2 acres of improved land at 39700 Garand Lane. Built in 2000, it is approximately 35 percent climate-controlled and has a large climate- and humidity-controlled wine-storage area. Other features include favorable street visibility, block and metal construction, steel roll-up doors, an onsite manager residence, keypad gate entry, video surveillance and RV parking.
Both the buyer and seller, both San Diego-based companies, were represented in the transaction by Stephen Grossman, a broker with the Orange County, Calif., office of NAI Capital Commercial Real Estate Services.
This rare self-storage opportunity in Palm Desert was a desirable acquisition for the buyer due to its modern construction and management upside potential," Grossman said. "The property is located in a business-park setting near commercial and retail businesses. The location near the intersection of Washington Street and Country Club Drive further enhanced the desirability of the asset."
NAI Capital is a Southern California firm with 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino and Ventura Counties. It is the Southern California affiliate of NAI Global, a real estate service network with 350 offices spanning the globe. The companies services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence, and related consulting and advisory services.