The Grubb & Ellis/BRE Commercial Self Storage Group and Bancap Self Storage Group Inc. recently announced the sale of Santa Anita Storage in El Monte, Calif.
The value of the transaction was $8.7 million.
The 82,405-square-foot building is located at 3830 Santa Anita Ave. Built in 1997, the facility has 484 self-storage units, sits on approximately 4.6 acres, and is subject to a long-term ground lease with the County of Los Angeles Airport Authority. The majority of units in this single-story project offer tenants drive-up access.
At the time of sale, Santa Anita Storage was 97 percent occupied.
San Diego-based Grubb & Ellis/BRE Commercial is a privately held commercial real estate brokerage firm operating in Southern California.