This site is part of the Global Exhibitions Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.


U-Haul Acquires Self-Storage Facility in Orange County, Calif.


Amerco Real Estate, the developent and acquisitions entity for The U-Haul Co., just acquired Newport Mesa Self Storage in Costa Mesa, Calif., for $4.5 million. The all-cash transaction has a 30-day escrow period. The facility, which has 37,780 square feet of rentable space and will be rebranded as U-Haul Self Storage.

The sale occurred through an online auction at It was facilitated for the seller by special servicing company LNR Partners LLC on behalf of the commercial mortgage-backed securities fund that foreclosed on the property last year.

Occupancy at the facility was about 60 percent at the time of sale. The three-story infill project is located on a frontage road alongside the Costa Mesa Freeway, which is State Route 55. 

Dean Keller, president of Bancap Self Storage Group Inc., brokered the transaction. The company has completed more than $900 million in self-storage sales, including many lender-owned properties and portfolio sales.

Established in 1945, U-Haul has 36 million square feet of storage space at more than 1,000 owned and managed facilities throughout North America.

comments powered by Disqus