Hammer Lane Self Storage facility in Stockton, California comprised of 109,800 total square feet and 625 self-storage units
The subject property is located at 6220 Sampson Road in Stockton, California and totals 109,800 square feet of rentable storage space across 625 units. The fully stabilized self-storage asset included 109,800 square feet of fixed storage in 526 units and an additional 49,064 square feet of parking in 99 units. The purchase price of $24,975,000 equates to $227 per rentable square foot and $39,960 per unit. The property traded at a CAP rate of 3.8 percent with a projected year-one CAP rate of 5.5 percent.
Tom de Jong and Dana Chobor are pleased to have delivered on behalf of their clients with this deal. The Colliers Self-Storage team specialize in the sale, development, and disposition of self-storage and industrial assets throughout the U.S. and have completed transactions totaling in excess of $475 million. For more information on this transaction or to inquire about future self-storage acquisition and disposition opportunities, please contact Tom de Jong.
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