Barker Pacific Group has acquired a three-property self-storage portfolio in Inland Empire, which remains the country’s most active industrial market.
The seller was Aim All Storage, whose properties totaled 334,966 square feet, according to CBRE. The complex includes 2,253 self-storage. The deal includes properties at 11215 Indiana Avenue in Riverside; 25093 Bay Avenue in Moreno Valley and 859 Desert Lawn Drive in Beaumont. CBRE’s Nick Walker and Trevor Roberts represented Aim All Storage.
Los Angeles-based Barker Pacific, an investment and development firm, focuses on self storage acquisition, development and management through its affiliate Storage Solutions. It also manages commercial and residential properties throughout the state, and in South Florida, Houston Phoenix.
There is a tight supply for self-storage in Southern California and demand for space has been on the rise, according to CBRE. In Downtown L.A., World Class Capital Group is building a 188,600-square-foot self-storage facility with 2,036 units.
The Inland Empire has also been the most active spot in the country for industrial real estate.