Caliente Springs RV & Self Storage, a 139,033-square-foot self-storage property in Desert Hot Springs, Calif., sold for $3.1 million. Built in 1994, the facility at 15305 Little Morongo Road encompasses 88,600 rentable square feet of storage space with 637 units and more than 50,000 square feet of RV-storage space portioned into 279 spaces.
The storage facility sits on 19 acres of land and features high-traffic street visibility. The property includes all-metal construction, steel doors, an onsite residence, keypad-gated entry, video surveillance, and covered and open RV storage.
Stephen Grossman of commercial real estate brokerage NAI Capital represented both buyer and seller in cooperation with C-III Realty Services LLC. The real estate owned property was a desirable acquisition for the buyer due its proximity to other owned storage properties in San Bernardino, Calif., and a regional administrative office in Indian Wells, Calif. The buyer will be upgrading the self-storage facility with modern amenities, Grossman said.
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.