Russell Miller Acquires Self Storage Facility From Henry VanWingerden For $3.025M In Santa Maria

The property involved in this transaction is a self-storage facility located at 1745 South Lincoln Street in the Santa Maria market. The sale was finalized for a price of $3,025,000, encompassing a total square footage of 21,150, resulting in a price per square foot of $143.

Summary of transaction details:

• Property Type: Self Storage
• Transaction Amount: $3,025,000
• Address: 1745 South Lincoln Street
• Market: Santa Maria
• Square Footage: 21,150
• Price Per Square Foot: $143
• Buyer: Russell Miller
• Seller: Henry VanWingerden
• Buyer's Representative: Brandon Robinson, Ingla Robinson & Leanna Calderon - Calvary Realty
• Seller's Representative: Steve Battaglia - Battaglia Commercial Real Estate

This transaction highlighted a competitive bidding process that increased the sale price by 21% above the asking price, reflecting heightened demand for self-storage investments. Notably, Calvary Realty has reported a trend of investors moving from multi-family and office properties into the self-storage market across the nation. Additionally, TC and Beyond provided transaction coordination services throughout the escrow process.