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Cherry Ave Self Storage, a 1,085-unit self-storage facility located on 5.74 acres at 1844 Sourh Cherry Avenue in Fresno, CA |
SAN FRANCISCO, CA – JLL Capital Markets has completed the $8.2 million sale of Cherry Ave Self Storage, a 1,085-unit self-storage facility in Fresno, California.
JLL represented the public REIT
seller and procured the buyer, PSC Fresno, LLC, an affiliate of Pratt Street
Capital, LLC.
Cherry Ave Self Storage is
located on 5.74 acres at 1844 S Cherry Ave., less than one mile south of
downtown Fresno. The property has excellent visibility from State Route 41 with
more than 91,000 vehicles traveling the roadway per day.
In addition, the facility is
located within an underserved market for self-storage with only three feet of
storage space per person within a three-mile radius.
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Brian Somoza
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Originally built in 1918 and expanded in 2022, Cherry Ave Self Storage consists of a three-story building and 12 one-story buildings. The facility features drive-up units, freight elevators and boat and RV parking. There is also a newly renovated office totaling 262 square feet.
The JLL Capital Markets
Investment Sales and Advisory team representing the seller was led by Managing
Director Brian Somoza.
For more news, videos
and research resources, please visit JLL’s newsroom.
Jones
Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed
with the California Department of Real Estate, license
#01223413.
CONTACT:
Kristen Murphy
Director, Public Relations
JLL
One Post Office Square, Suite 1100
Boston, MA 02109
