Trojan Storage plans large self-storage facility in San Fernando Valley
LA is already nation’s biggest self-storage market
Trojan Storage is looking to build a 167,000-square-foot self-storage facility in the San Fernando Valley, expanding in a Los Angeles market that is the biggest in the nation in that sector.
The firm is planning the complex at 14201 South Paxton Street in Arleta, according to data from PropertyShark. The proposed facility would rise on a vacant lot spanning 2.8 acres.
KoBre Holdings, Trojan’s parent company, did not respond to a request for comment.
The largest planned structure in the project is a three-story self-storage facility that spans 152,280 square feet. The site will also include another building spanning about 12,000 square feet. The project would also have 1,130 square feet of office space and 1,600 square feet for living quarters.
Los Angeles attracted the most self-storage investment in the country, with a total volume of $92 million in 2020, according to a March report from storage unit listings website Storage Cafe. That investment is a response to the level of demand in the city.
Last year, L.A. had around 4.7 square feet per capita of self-storage space at rents of $191 for 10-foot by 10-foot units. The figures are much higher than the national average, which sits at 7 square feet and $118.
L.A. also ranked third in self-storage rates between 2017 and 2021. The city had the third-highest average monthly rent for the period, at $193 for a 10-foot by 10-foot unit, behind Honolulu at $260 and San Francisco at $208.
Recent self-storage deals that have closed in the city include Andover Properties’ acquisition of a 1,072-unit property in Santa Clarita and Ezralow Company’s purchase of a 12-property portfolio under the Price Self Storage brand.
Trojan Storage has 19 self-storage locations in California. It also operates under the brands BA Self Storage, Fort Self Storage and Safe Self Storage. Its L.A. branches include 14601 Sherman Way in Van Nuys and 1651 South Central Avenue in the Downtown area.