Buchanan Street Partners Acquires Class A Self-Storage Property in Summerlin South, Las Vegas
Newport Beach, CA (December 10, 2025) – Buchanan Street Partners (Buchanan), a Newport Beach, CA-based real estate investment management firm, has acquired a recently constructed, institutional-quality self-storage facility located at 9560 W Flamingo Road in Las Vegas, Nevada. The facility is strategically located within the affluent Summerlin South submarket, one of the fastest-growing and highest-income communities in the Las Vegas Valley.
The 103,000 square-foot, three-story facility comprises 1,130 climate-controlled self-storage units and was acquired for $21.0 million in an off-market transaction. Originally developed in 2023, the property was 90% occupied at the time of acquisition. Buchanan plans to rebrand the facility and has engaged Westport Properties, Inc. (operating as US Storage Centers) as the third-party property manager. Westport manages over 220 facilities nationally, including nine within the Las Vegas MSA and six other Buchanan-owned locations. The acquisition was capitalized with a $13.0 million bridge loan from East West Bank.
“This transaction reflects our continued focus on acquiring high-quality, well-located self-storage assets in demographically strong and supply-constrained markets throughout the Western U.S.,” said Feerooz Yacoobi, Senior Vice President at Buchanan Street Partners. “The Summerlin submarket offers a dense and affluent population base with compelling long-term growth fundamentals. Combined with our recently acquired facility at 310 Rock Springs Drive, located approximately five miles to the north, this acquisition gives us meaningful scale in a highly attractive market.”
The property benefits from a dense population base of 162,000 residents within a three-mile radius, and daily traffic counts exceeding 32,000 vehicles along Flamingo Road. The area is surrounded by upscale residential communities and major commercial developments, including The Summit Club, a luxury residential golf community developed by Discovery Land Company, and the planned approximate $2 billion Summerlin Studios film and entertainment campus, a joint venture between Sony Pictures, Warner Bros. Discovery, and The Howard Hughes Corporation.
Buchanan continues to expand its self-storage platform, targeting a $500 million+ portfolio through a combination of acquisitions and developments. In addition to the Flamingo property, Buchanan recently acquired, or is developing, self-storage assets in Upland (CA), South San Francisco (CA), and Las Vegas (NV – Rock Springs Drive).
ABOUT BUCHANAN STREET PARTNERS, LPBuchanan Street Partners is a Newport Beach, CA based real estate investment management firm specializing in value-oriented investments across multifamily, commercial, and self-storage properties in the Western and Southwestern United States. The company serves a broad range of clients including high-net-worth individuals, family offices and the advisors that serve them. Buchanan’s foundation of success is backed by a track record of results, having invested in over $8 billion of real estate assets since its founding in 1999. The company’s experienced and cohesive team has navigated multiple real estate cycles together. Buchanan balances the pursuit of risk-adjusted returns with preservation of capital to deliver both performance and peace of mind to its investors. Learn more at BuchananStreet.com.