Dec 21, 2010
Los Angeles, December 21, 2010 — Today LAACO, Ltd. announced the purchase of a self-storage facility located in Tempe, Arizona for $5.75 million.
The storage facility is a well-situated property on West Baseline Road, ten miles southeast of downtown Phoenix. The facility was constructed in 1995 and consists of approximately 70,000 square feet of rentable building space plus three acres for recreational vehicle/boat storage.
Karen Hathaway, Managing Partner said, “The facility fits well within LAACO’s existing portfolio of self-storage properties in the greater Phoenix area. We believe that there are opportunities to add value to the facility and we look forward to bringing the Storage West brand to this neighborhood.”
LAACO, Ltd. is a California limited partnership. The Partnership acquires, develops, builds and manages Storage West Self-Storage facilities in the western United States. LAACO currently owns and operates 10 Storage West self-storage properties in the Phoenix area. Its self-storage portfolio consists of 45 properties.
Wholly owned subsidiaries of the Partnership own and operate The Los Angeles Athletic Club and California Yacht Club.
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