The asset totals 51,600 rentable square feet encompassing 376 storage units and includes excess land for future expansion. The class A facility offers both heated and unheated units and covered RV parking and is well situated in the high growth Battle Ground market.
The buyer, In Self Storage, is a self-storage operator that acquires and manages medium sized storage and RV rental facilities located in CA, AZ, CO, TX, UT, OR and WA and has a current portfolio of 25 assets. Jim Lewis, Greg Wells, Luke Elliott and Mike Mele with Cushman & Wakefield’s Self Storage Advisory Group handled the transaction on behalf of the property developer.
“The Storage Solutions on Eaton property offered the exceptional combination of a newly built, high-quality asset with land for expansion in a fast growth suburb of the Portland-Vancouver metropolitan area,” commented Jim Lewis.
"Self storage continues to be a desirable place to invest capital and whether fully stabilized or still in lease up, such as the Battle Ground property, buyers remain drawn to this asset class,” added Greg Wells.
“The Battle Ground property is an excellent fit with our portfolio as we look to grow more in the Pacific Northwest,” said Charles Oliver, Partner with In Self Storage. “We plan to add value through aggressive lease up, adding larger unit sizes and future expansion.”
The Cushman & Wakefield Self Storage Advisory Group is a full service real estate platform dedicated to the self storage asset class. The group offers investment advisory, valuation, consulting, feasibility and data services in all major markets in the U.S.