Performance Self Storage Group (PSSG) just announced that it has successfully represented the seller in the sale of Solano Storage & Retail Center located in Fairfield CA for $9,100,000. The facility is a multi-story institutional quality storage property that consists of 587 self storage units and 7 retail units. Carl Touhey and Jay Allen of Performance Self Storage Group represented the seller, who was a private self storage investment group and the buyer was a 1st time self storage investor.
"This trophy property was well managed and cared for and as part of the purchase, the buyer had to assume a conduit loan. Our firm has handled multiple transactions with loan assumptions in the past and they are the furthest thing from being easy. Their complexity, constant delays and hurdles often-times send buyers the other way. However, there is a lack of quality storage properties on the market right now in CA and this combined with still low interest rates and influx of cash into our industry, a true seller’s market has been created and one where if the deal makes sense, buyers will do what they need to do to get it done,” said Touhey.
Performance Self Storage Group
570 El Camino Real #150-411
Redwood City, CA 94063
Office: (650) 260-2242