FOR IMMEDIATE RELEASE

CONTACT: Lee & Associates-LA North/Ventura Shelly Garcia: [email protected] 818.933.0317

Lee & Associates-LA North/Ventura Transacts 47,294-SF Self Storage Facility Sale Property attracts nine bidders over 30 days and sells for $5.1 million

TEMECULA, CA – June 1, 2015 –A 47,294-square-foot self-storage facility in ’s Riverside County has traded for $5.1 million after brokers fielded nine offers over a 30-day marketing period, said John Battle SIOR, managing director and principal of Lee & Associates-LA North/Ventura, who represented buyer and seller in the transaction with Lee Principal Mike Tingus. “The self-storage market has been the fastest growing sector of the entire commercial real estate investment market,” said Battle, “and average returns in excess of 16 percent a year over the past 10 years are fueling tremendous demand by investors.” The property was marketed without an asking price. After all offers were received, the marketing team and seller countered the three best offers, rather than ask for a “best and final” as traditionally occurs when multiple offers are received. “We wanted the strongest bidders to be aware of and understand our buyer’s expectations,” Battle said. “We negotiated final terms with the buyer with the best response to our counter, and closed the transaction without any re-trading from the buyer.” The facility, located at 42189 Winchester Road in Temecula, CA, sold to Guardian Storage Centers, LLC, an Irvine, CA operator of 39 storage center locations in California and Arizona. The seller was Scottsdale Commerce LLC, a private investment company. The recent success of A & E’s television series has increased the visibility of the sector, but real estate investors have long been aware that the self-storage industry offers many advantages. The industry, which generated more than $24 billion in U.S. revenues in 2014, --more—

Sherman Oaks Office Calabasas Office Ventura County Office Antelope Valley Office 15250 Ventura Blvd. #100 26050 Mureau Road #101 1000 Town Center Dr. #125 1543 E Palmdale Blvd. #T Sherman Oaks, CA 91403 Calabasas, CA 91302 Oxnard, CA 93036 Palmdale, CA 93550 T 818.986.9800 T 818.223.4388 T 805.626.1200 T 818. 223.4388 F 818.783.9260 F 818.591.1450 F 805.413.7000 F 818.591.1450

according to industry trade group Self Storage Association, requires a lower occupancy rate than, say, multifamily investments, to break even, appears to be relatively recession proof, and publicly traded storage companies have outperformed all other commercial real estate sectors with an average annual return of 21.4 percent over the past five years and a 16.6 percent return over the past 10 years, according to the National Association of Real Estate Investment Trusts (NAREIT). About Lee & Associates ‐ LA North/Ventura, Inc. Celebrating more than 36 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker‐owned firm in the country with 53 locations across the nation including California, Arizona, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, South Carolina, Texas, and Wisconsin. With almost 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. Additional information can be found at http://www.lee‐ associates.com. You can also follow us on Facebook, LinkedIn and Twitter. Lee & Associates‐LA North/Ventura, Inc., a member of the Lee & Associates group of companies, provides industrial, office, retail and multifamily/investment brokerage services across the San Fernando Valley, Conejo Valley, Antelope Valley and throughout Ventura County. Lee & Associates’ clients enjoy a comprehensive range of commercial real estate services including: sales and leasing; real estate investment consulting, property acquisition, disposition and 1031 exchange transactions; tenant representation and relocation, land assemblage, site selection, mixed‐use and urban in‐fill, property and portfolio evaluation and market research. Founded in Sherman Oaks in 1994, Lee & Associates‐LA North/Ventura now operates four California offices including Calabasas, Ventura County and Antelope Valley. For more information, contact us at 818.986.9800.

###