Hines has made a landmark acquisition by purchasing a 2,460-unit self-storage facility for $91 million in Cerritos, making it the largest single-property sale in self-storage history.
Investment in the self-storage sector surged during the pandemic, with $50 billion in transactions from 2020 to 2022, reflecting a strong return to normalcy despite economic challenges.
Brokers Nick Walker and Trevor Roberts highlighted that the significant interest during the marketing process showed the competitive nature of self-storage investments in today’s market.
Relative to other commercial real estate segments, self-storage is viewed as a safe haven for investors during economic downturns, supported by resilient demand drivers.
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