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Buchanan Street Partners LP has acquired a stabilized institutional quality self-storage facility in Auburn, CA for $20.75 mil in an off-market transaction. The 116.5k sf ($178/sf) facility, comprised of 825 self-storage units and 40 RV parking spaces, is located at 12200 Rock Creek Rd.

Buchanan Street Partners, based in Newport Beach, has bought an 825-unit self-storage project in Auburn, its first such purchase in Northern California. COURTESY BUCHANAN STREET PARTNERS

Buchanan Street Partners, LP, a Newport Beach-based real estate investment management firm, has entered the Northern California market, acquiring a stabilized, institutional quality self-storage facility located at 12200 Rock Creek Rd. In Auburn.

Newport Beach-based real estate investment firm Buchanan Street Partners has made its largest local acquisition in recent years, spending $71 million for a 301,328-square-foot industrial campus in Buena Park. The Newport Beach office of institutional investor TA Realty LLC sold the five-building complex for roughly $236 per square foot, property records indicate.

Buchanan Street spent $41 million to purchase two self-storage facilities in Cave Creek, AZ and Mesa, AZ, near Phoenix, AZ. The Cave Creek site is at 29640 N. Tatum Blvd. The Mesa facility is at 2862 Signal Butte Road (above). This is Buchanan’s initial foray into the greater Phoenix market. Both facilities offer climate-controlled units. CBRE’s Nick Walker and Walter Brauer arranged the sale. Source: REBusinessOnline

AZ Big Media Buchanan Street Partners has paid $41 million, or $25,308/unit, for two self-storage properties with a total of 1,620 units in Cave Creek and Mesa, Ariz. The Newport Beach, Calif.,...

CAVE CREEK AND MESA, ARIZ. — Buchanan Street Partners has acquired two Class A self-storage facilities in the Phoenix metro. The properties, located at 29640 N. Tatum Blvd. in Cave Creek and 2862 S. Signal Butte Road in Mesa, offer a combined 160,500 rentable square feet and 1,620 units. With a total purchase price of $41 million, or $255 per square foot, the acquisitions mark Buchanan’s entrance into the greater Phoenix self-storage market.

Buchanan Street Partners, a Newport Beach, CA-based real estate investment management firm, has acquired two recently constructed Class A self-storage facilities in the Phoenix MSA. Located at 29640 N Tatum Blvd, Cave Creek, AZ and at 2862 S Signal Butte Rd, Mesa, AZ, the facilities total 160,500 rentable square feet and 1,620 units. The properties were acquired at a total purchase price of $41 million or $255 PSF. The seller was Garrett Development Corporation, and the transaction was brokered by CBRE’s Nick Walker and Walter Brauer. The acquisitions represent entry into a new market for Buchanan’s self-storage team as these two properties are Buchanan’s first storage acquisitions within the greater Phoenix MSA.