Buchanan Street Partners acquired a newly constructed, Class A, three-building self-storage facility at 310 Rock Springs Drive in Las Vegas.
The 103,570-square-foot facility comprises 917 self-storage units and was purchased for $21.8 million in an off-market transaction directly from the project’s developer. The property was most recently a US Storage Centers facility.
Buchanan acquired the property at certificate of occupancy upon construction completion. The Class A facility offers a mix of interior climate-controlled units and convenient drive-up access options, spread across three structures and standing three stories tall. It’s located along Rainbow Boulevard, which is visible from Summerlin Parkway.
Buchanan is an active self-storage investor throughout the Western U.S. Through both ground-up development and acquisitions of existing facilities, the firm is targeting the buildout of a $500 million+ portfolio of institutional-quality self-storage assets. Buchanan is also an active direct lender for self-storage bridge and construction financing.
The post 100K-SF LV Self-Storage Facility Acquired by Buchanan Street appeared first on Connect CRE.
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