Private Investors Acquire Property In Hemet With Buyer's Rep Devin Beasley And Seller's Rep Luke Elliott

The property involved in this transaction is Hemet Self Storage, located at 1180 N State St, Hemet, CA. The facility has a total of 77,758 rentable square feet and consists of 711 non-climate-controlled units ranging from 25 to 500 square feet. It is situated on 4 acres and features a self-service kiosk, gate, drive-up access, security camera, and parking spaces. The asset was constructed in 1995 and lies in a densely populated area with roughly 163,000 residents within a five-mile radius.

Summary of transaction details:

• Property Type: Self-Storage
• Transaction Amount: Not Disclosed
• Address: 1180 N State St, Hemet, CA, 92543
• Market: Hemet
• Buyer: Private Investor
• Buyer's Representative: Devin Beasley
• Seller: Private Investor
• Seller's Representative: Luke Elliott, Cushman & Wakefield
• Square Footage: 77,758
• Units: 711
• Facility Size: 4 acres
• Year Built: 1995

The Mele Group, a division of Marcus & Millichap, facilitated the transaction, marking it as their 28th self-storage transaction of the year. Investment Specialists involved in the team included Luke Elliott, Devin Beasley, and Michael Mele. Luke Elliott noted that this was the group's fifth transaction on the West Coast for the year.