Hidden Acres Self Storage in El Dorado Hills, Calif., was recently sold in an all-cash transaction at a 7.5 percent capitalization rate. The bank-owned property at 2341 Hidden Acres Drive is a newer-generation facility across from Folsom Lake Marina. It consists of 94,490 net rentable square feet of indoor storage space and was 71 percent occupied at the time of sale.
The seller, buyer and sale price were not disclosed by the source, the Argus Self Storage Sales Network, a Denver-based network of real estate brokers who specialize in storage properties. Formed in 1994, Argus has 36 broker affiliates covering nearly 40 markets.
The seller was presented by Tom de Jong of Colliers International. He represents Argus in the Northern California market.
A property with the identified address currently appears on the website of Green Valley Road Self Storage. According to the website, the facility was opened in 2008. All of its units have drive-up access, and the facility offers several 12-by-30 units for boats and other vehicles.