Oakland Road Self Storage facility in San Jose, California, is comprised of 52,974 square feet of rentable space and 480 self-storage units, plus a caretaker’s apartment unit
San Jose, CA – August 2, 2022 – Oakland Road Self Storage, located at 1799 Oakland Road in San Jose, California, will be rebranded as Extra Space Storage. This multi-story, class A self-storage facility was built in 2018 by Hudson Industrial Equities and was 91% occupied at time of close.
The buyers, Invesco Real Estate, a global real estate investment manager, in partnership with Baranof Holdings, were interested in adding to their California portfolio and acquiring a fully occupied self-storage facility with desirable street-front visibility in a high barrier-to-entry market. The self-storage buyers plan to invest in to further enhance the property and its services.
Tom de Jong, Executive Vice President and partner of the de Jong l Becher Self Storage Team at Colliers, represented the sellers, Hudson Equities, in this transaction. For more information on this transaction or to inquire about future self-storage acquisition and disposition opportunities, please contact Tom de Jong.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 66 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.3 billion ($3.6 billion including affiliates) and $45 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people.
About Baranof Holdings
Baranof Holdings is a national developer, acquirer, and asset manager of self-storage facilities across the United States. Since 2015, Baranof Holdings has developed 19 self-storage assets across major metros including New York, Raleigh, Miami, Austin, Orange County, Los Angeles, San Francisco East Bay, Portland, Seattle, and Honolulu, and acquired 40+ existing self-storage assets.
About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $92.0 billion in real estate assets under management, 592 employees and 21 regional offices across the U.S., Europe and Asia (as of March 31, 2022). Invesco Real Estate was established in 1983 and today invests across the risk return spectrum, from core to opportunistic; in equity and debt; listed and direct; locally and globally. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life.