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DEVELOPMENT: Trojan Storage receives approval for 220,000 SF self-storage project with townhomes in Sun Valley, CA. The planned development at 7528 N. Bellaire Avenue will feature rental storage space behind nine one-bedroom townhomes, each with a two-car garage. Jordan Architects designed the two-story project, which is expected to break ground in 2026 and be completed in 2027. The Los Angeles City Planning Commission approved the project following design revisions requested by commissioners.

FINANCING: Talonvest arranges $45M bridge loan refinance for 1784 Holdings in Goleta, CA. The financing covers a 95,523 SF, 972-unit climate-controlled self-storage facility managed by Extra Space Storage. The three-year bridge loan includes two one-year extension options, while Talonvest negotiated servicing-fee savings and reduced the potential prepayment penalty by more than $400,000. Shane Albers, CEO of 1784 Holdings, led the borrower side, with Tom Sherlock, Kim Bishop, Nathan Lefevre and Mason Brusseau advising for Talonvest.

ACQUISITION: Inland acquires 859-unit Class A self-storage facility in Joliet, IL. The 112,209 SF property at 2100 Essington Road was built in 2023 and features 764 climate-controlled units and 95 exterior drive-thru units, including 13 oversized RV/boat spaces. Mark Cosenza, SVP of Inland Acquisitions, with Brett Smith, VP and Senior Counsel of The Inland Real Estate Group, completed the acquisition. The property will be rebranded and managed by Devon Self Storage, led by Matthew Tice, co-CEO and president.

DISPOSITION: The LeClaire-Schlosser Group of Marcus & Millichap announces the sale of 516-unit Falcon Point Self Storage in Windsor, CO. The facility benefited from strong population growth, with the surrounding three-mile population increasing nearly 50% since 2020 and projected to grow another 14%. Adam Schlosser, Dave Knobler, and Charles “Chico” LeClaire represented the seller in the transaction.

22,420 SF Building | 67 Units | 4.20% Cap Rate | Access to Lafayette Regional/Paul Fournet Field Airport

12,370 SF Building | 111 Units | 5.40% Cap Rate | 70% Occupancy

14,715 SF Building | 5.52% Cap Rate | 54 Units

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