Bancap Self Storage Group Brokers Oakland Self Storage Property

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Bay Area Property Sold for Nearly $7 Million

Bancap Self Storage Group, Inc., the “#1 Self Storage Broker in California,” announced that it recently brokered the sale of Coliseum Self Storage located in Oakland, California. Dean Keller, the firm’s president, was the exclusive listing agent and sole broker of the transaction. The seller was a private investment partnership that originally developed the property. The buyer was a private limited liability company managed by iStorage – a fast growing national owner/operator of self storage properties.

Coliseum Self Storage is located just east of the I-880 Nimitz Freeway and northwest of the Oracle Arena and the O.CO Coliseum in Oakland. The single story property contains over 67,000 net rentable square feet divided into over 600 units on nearly 3 acres of land. The facility included amenities such as key-coded electronic gate access system, individual door alarms, and video surveillance cameras.

The property sold for just under $7 million on a “cash to new loan” basis. “This was a difficult sale due to some environmental issues present at the site,” said Wally Slough, Managing General Partner for the seller, “I would highly recommend Dean Keller for any prospective buyer or seller of self storage properties.”

Dean Keller, President of Bancap Self Storage Group, said, “the market today is very strong for self storage properties. There are far more buyers than sellers and we are seeing historically high prices in virtually all markets of California and nationwide. If an owner has any interest in selling a property in the foreseeable future, I strongly encourage them to contact me now.”

Bancap Self Storage Group is the, “#1 Self Storage Broker in California” with over $1 billion in completed self storage sales, including indepentantly owned properties, mid-sized chains, and numerous portfolio sales. For more information, contact Dean Keller at 949-715-2233 or visit the company website at http://www.bancapselfstorage.com

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