The William Warren Group (WWG), a privately held real estate company specializing in self-storage, has acquired Beacon Self Storage in Oakland, Calif., for $8.8 million. The 62,125-square-foot facility has 954 units and will be rebranded as StorQuest Self Storage, WWGs operating arm. The facility will be StorQuests sixth in Northern California.
The facility is in downtown Oakland, and offers a daily traffic count of 200,000 vehicles and strong visibility from Interstate 980, company officials said.
We are expanding our operating footprint in the San Francisco Bay Area as we grow the StorQuest presence to meet increasing demand for self-storage space, said Bill Hobin, WWG President. This facility and its highly visible location represent a valuable brand-identity opportunity.
Renovation plans for the seven-story building include work to the exterior of the structure, new signage that maximizes the propertys visibility from the freeway, and a new color scheme. StorQuest recently underwent a rebranding campaign that includes a new logo.
The transaction marks WWGs third self-storage investment in Oakland. The companys self-storage portfolio includes 41,700 units at 60 facilities throughout Arizona, California, Colorado and Hawaii. WWG was founded in 1994 and is headquartered in Santa Monica, Calif.