Auto Palace Storage

Jones Lang LaSalle (“JLL”), as an exclusive advisor, is pleased to offer qualified investors the opportunity to acquire Auto Palace Storage (the “Property”), a best-in-class vehicle / self storage asset in San Pedro, California. The Property is currently 93.7% physically occupied at a gross achieved rental rate of $1.59 PSF across the entire unit mix. The interior self storage and vehicle parking is 99% occupied with an average length of stay of nearly five years. Occupancy consistently hovers around that mark given the lack of affordable boat / RV storage in the dense, high income, infill node of San Pedro. This opportunity allows an investor to acquire a truly unique asset. The three-floor facility has 60,125 square feet of rentable space (including rooftop parking) with a diverse unit mix to capture a variety of demand segments. This asset is nestled between San Pedro Bay Port Complex (the largest container port in the US) and Ranchos Palos Verdes (a high-income enclave with median home sales price of $1.9M) . There is minimal competition within the vehicle storage space, and self-storage is priced materially higher providing a substantial mark to market opportunity. This offering provides a potential investor with a compelling opportunity to purchase core Los Angeles real estate with from strong in-place cash flow and meaningful upside through capturing a very evident mark-to-market rental rate opportunity.