SELF STORAGE SPACE - SALE PENDING

Colliers’ de Jong | Becher team, has been retained as the exclusive advisor by the ownership to offer for sale the fee simple interest in the ULTRA Storage (3rd party managed by Universal Storage Group) site at 2701 Golf Course Drive, Ventura, CA 93003. The property is comprised of an existing, class A, newly constructed facility of 72,762 net rentable square feet of self-storage in 467 total units with an average unit size of 134 SF. Potential to expand utilizing Mako Steel’ Double-Up system built over the center buildings which could add approximately 58,000 SF. No formal plans, seller has only had preliminary discussions with the City which indicated their support. This facility will be delivered on an as-is, where-is basis with any contractors’ warranties and is currently stabilized at market rents. Offers due Tuesday May 14, 2024.

Sale Note
Street rent rates in the area are reported by Yardi Matrix as $1.79/SF. In-place income on a trailing-twelve-month basis was reported by USG as $937,147. The property is being offered for sale unpriced based on current market conditions. The property is offered on a fee simple basis with Seller to payoff existing debt plus any prepayment charges. Assumable Loan in the amount of $7,350,000 at 3.59% due in 2032. Full details available upon request.