Beacon Self Storage in Oakland, Calif., recently sold for $8.8 million to a private investment group based in the Southern California. Located at 2227 San Pablo Ave., the facility consists of 62,125 net rentable square feet, with 954 self-storage units. The property is also home to multiple cell towers along with a billboard. The facility is multi-story and was 70 percent physically occupied at the time of sale. It has visibility from Interstate 980.
Carl Touhey and Jason Jay Allen, co-owners of Performance Self Storage Group (PSSG), represented the buyer and seller in the transaction. PSSG specializes in self-storage brokerage, marketing and consulting, with offices in California and Florida.
The demand for this asset was incredibly strong, and we received multiple offers on the property in a very short amount of time," said Touhey. "Although the building is almost 100 years old, buyers will line up to purchase a storage property anywhere located in the Bay Area like this, in any condition and age. Right now there is limited inventory of storage properties for sale in California, and demand for this product type is stronger than ever."