Prime Group Acquires 117,293 SF Self-Storage Facility In Lake Elsinore For $15M

A 117,293 square foot self-storage facility located at 28497 California 74 in Lake Elsinore, has been sold for $15 million in a recent transaction. The property, situated on over 10 acres of land, consists of 12 buildings and is positioned in the northern region of Lake Elsinore.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $15,000,000
• Address: 28497 California 74, Lake Elsinore
• Market: Lake Elsinore
• Acres: 10

The buyer in this transaction is Prime Group, a New York-based real estate firm specializing in self-storage and other alternative real estate assets. The representative for Prime Group in this deal is Robert Moser. On the other hand, the seller is Elsinore Storage LLC, an entity connected to David Schneider.

Note: Prime Group's acquisition of this storage facility expands their portfolio of alternative real estate assets. This purchase enables them to further capitalize on the growing demand for self-storage solutions in the Inland Empire area.