IE Business Daily Business news for the Inland Empire.
A self-storage company based in Ladera Ranch has purchased a facility in Riverside.
SmartStop Self Storage Inc., a real estate investment trust, bought the self-storage operation at 6637 Van Buren Blvd. for an undisclosed sum, according to a statement.
The property, which has been converted to a SmartStop, has 379 units and 71 RV parking spaces spread across nearly 70,000 square feet. It includes a gated drive-in loading area, up-to-date security systems, keypad access, and access for large trucks.
“This is a tremendous asset in an undersupplied submarket with a dense and fast-growing population,” said Wayne Johnson, SmartStop’s president and chief investment officer, in the statement. “With RV parking, this new facility offers customers a complimentary product type from our two neighboring SmartStop facilities.”
SmartStop employs about 400 people and has $1.7 billion in assets. The Riverside property will be its 29th owned or managed in California and its 154th in North America, according to the statement.
