Newport Beach, CA (May 7, 2025) – Buchanan Street Partners (Buchanan), a Newport Beach, CA based real estate investment management firm, has acquired a newly-constructed, Class A, three building self-storage facility located at 310 Rock Springs Drive in Las Vegas, NV.
The 103,570-square-foot facility is comprised of 917 self-storage units and was purchased for $21.8 million in an off-market transaction directly from the project’s developer. The acquisition marks Buchanan’s latest addition to its expanding self-storage portfolio across the Western U.S and the first in the Las Vegas MSA.
Buchanan acquired the property at certificate of occupancy upon construction completion. The Class A facility offers a mix of interior climate-controlled units and convenient drive-up access options, spread across three structures and standing three stories tall. Located along Rainbow Boulevard with visibility from Summerlin Parkway, the property is strategically positioned to serve the growing residential and commercial demand in the Summerlin submarket. The property incorporates a modern design and layout, providing secure, accessible, and high-quality storage product for both residential and business users. US Storage Centers has been retained as the third party property manager for the new facility.
“We’re excited to expand our footprint into Las Vegas with this best-in-class storage facility in one of the city’s most desirable and affluent growth corridors. The facility sits as a bill-board location along two heavily traveled thoroughfares and is within close proximity to the Summerlin market,” said Feerooz Yacoobi, Senior Vice President at Buchanan Street Partners. “This acquisition aligns with our strategy of acquiring well-located, recently built Class A storage assets.”
Buchanan is an active self-storage investor throughout the Western U.S., including recent transactions in California and Arizona. Through both ground up development and acquisitions of existing facilities, the firm is targeting the buildout of a $500 million+ portfolio of institutional-quality self-storage assets. Buchanan is also an active direct lender for self-storage bridge and construction financing.
ABOUT BUCHANAN STREET PARTNERS
Buchanan Street Partners is a Newport Beach, CA based real estate investment management firm specializing in core-plus, value-add, and debt 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.