Trico Capital Investments Inc., a real estate investment company operating self-storage facilities as Lighthouse Self Storage and other brands, has acquired a 64,705-square-foot industrial building in Garden Grove, Calif., with the intent to convert it to self-storage. The company has hired general contractor Hard Hat Inc. to add a second floor inside the 21-foot high structure to create 94,000 net rentable square feet of storage space, according to a press release.
Trico has a Lighthouse location nearby on Beach Boulevard that is nearing full capacity. Company officials believe they can leverage that facility’s success to “take advantage of the dense Orange County market,” the release stated.
Trico was represented in the transaction by Progressive Realty Partners, its property-management group. Founded in 1996, the firm specializes in apartment complexes, office buildings and self-storage facilities in California and Florida. Its team currently manages more than 1.4 million square feet of space.
Headquartered in Irvine, Calif., Trico is a real estate fund manager specializing in the acquisition and development of self-storage properties. The company and its affiliates have designed, developed or owned more than 100 storage facilities across the United States and managed more than 20,000 storage units in California and Florida.
Lighthouse Self Storage provides self-storage for personal and business customers as well as boat and RV storage. It has 13 locations in California and three in Florida.