Self-storage firm plans 140K sf complex, its second in LA

With Pico Union project, Dallas-based Baranof Holdings is seizing on continued strong demand in sector

Los Angeles /
Sep.September 29, 2021 01:22 PM
Baranof Co-Founders Andrew Aiken (left) and Andy Hendricks (right) in front of planned facility at 1810 Venice Blvd. (Baranof Holdings)

A Dallas-based self-storage developer is planning to build its second complex in Los Angeles, which continues to see strong demand for properties in the sector.

Baranof Holdings is proposing a 142,000-square-foot self-storage facility at 1810 Venice Boulevard in Pico Union, according to city planning documents.

The seven-story building will store household goods, according to the filing, and will include 1,527 storage units, as well as 24 parking units and 30 bicycle parking spots.

L.A. is the largest self-storage market in the country, attracting $92 million in self-storage investment last year. Between 2017 and 2021, L.A. also ranked third in self-storage rates, with the third-highest average monthly rent at $193 for a 10-foot by 10-foot unit.

Baranof also owns a 633-unit, climate-controlled facility in Inglewood, which it completed in 2019. The Inglewood facility is operated by Extra Space Storage, as are many of the firm’s other properties in Orange County, San Francisco, Portland and Seattle.

A one-story, 17,000-square-foot building is now on the Pico Union property, which is owned by Howard Levinson at Hidden Properties, according to the planning documents. It was not clear whether Baranof was in escrow to purchase the parcel.

Baranof, co-founded by Andy Hendricks and Andrew Aiken, did not immediately respond to a request for comment.





    Related Articles

    arrow_forward_ios
    Environmental group drops suit over 6,700-acre Tejon Ranch project
    Environmental group drops suit over 6,700-acre Tejon Ranch project
    Environmental group drops suit over 6,700-acre Tejon Ranch project
    Poll: Majority of LA County residents support duplex law
    Poll: Majority of LA County residents support duplex law
    Poll: Majority of LA County residents support duplex law
    SoCal-focused MiniStorage explores sale
    SoCal-focused MiniStorage explores sale
    SoCal-focused MiniStorage explores sale
    Sam Nazarian (Getty, iStock)
    Coachella resort fraudster duped Sam Nazarian
    Coachella resort fraudster duped Sam Nazarian
     A rendering of 11611 Ventura Boulevard (Urbal Architecture)
    145-unit assisted living facility set for Studio City
    145-unit assisted living facility set for Studio City
    Red Oak Investments' Alex Wong and A-1 Trailer Park (Google Maps, Red Oak)
    Presto on PCH: apartment developer plans to make trailer park disappear
    Presto on PCH: apartment developer plans to make trailer park disappear
    Apple reveals 369,000 sf slice of Westside plan
    Apple reveals 369,000 sf slice of Westside plan
    Apple reveals 369,000 sf slice of Westside plan
    The portion of land with renderings of proposed development (LoopNet)
    6 percent of Bel Air on discount
    6 percent of Bel Air on discount
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...