SecureSpace has acquired Stor-Mor Self Storage, a 44,351-square-foot facility in Rosemead, Calif. A private owner sold the property for $11.3 million, according to Los Angeles County records.
Completed in 1979, the three-story building comprises 659 units, ranging between 30 and 250 square feet. The property also includes 96 rentable parking spaces.
Under the new ownership, the facility will undergo renovations and will be upgraded to reflect the SecureSpace style; improvements will include installing a security platform that will feature AI-enabled cameras and sensors. Online payment, free Wi-Fi and moving and packing supplies will also be available.
The property occupies 1.7 acres at 8635 Valley Blvd., has access to Interstate 10 and is some 10 miles east of downtown Los Angeles. The facility is one of the 13 available within a 3-mile radius, offering residents 2.7 rentable square feet per capita. As of February, 10 self storage properties encompassing a total of 585,748 have changed hands in the Los Angeles market, according to Yardi Matrix data.
This recent acquisition brought SecureSpace’s Los Angeles footprint to eight facilities, with four more currently under construction, Managing Director Nathan McElmurry said in a prepared statement. One of the local holdings is a 130,188-square-foot property that opened last year in October.
