StorQuest Self Storage Expands Bay Area Presence with $8.8 Million Acquisition
New Location Marks Sixth Northern California Facility
Santa Monica and Oakland, Calif. – December 10, 2012 - William Warren Group (WWG), a privately held real estate company specializing in self storage facilities and based in Santa Monica, Calif., has purchased Beacon Self Storage, a 954-unit self storage facility in Oakland, Calif. WWG, which owns and operates StorQuest Self Storage throughout California and several Western U.S. markets, purchased the self storage facility from AGI Capital for $8.8 million.
The 62,125-square-foot facility is located at 2227 San Pablo Ave. in downtown Oakland and has excellent visibility from the 980 Freeway, a key factor in the transaction for WWG. With a daily traffic count of 200,000 cars, the location offers strategic exposure as WWG expands the StorQuest name in the Bay Area.
“We are expanding our operating footprint in the San Francisco Bay Area as we grow the StorQuest presence to meet increasing demand for self storage space,” said Bill Hobin, president and CEO of William Warren Group. “This facility and its highly visible location represent a valuable brand identity opportunity.”
The newly acquired facility will be renovated to meet StorQuest Self Storage brand standards, including an exterior facelift, new identity signage that maximizes the freeway exposure and a new color scheme. StorQuest recently underwent a broad rebranding campaign featuring the customer centric slogan “Your Stuff Matters,” including the introduction of a new logo, marketing materials and an updated website.
The transaction marks WWG’s third self storage investment in Oakland and sixth in Northern California. The firm continues its strategy to grow its StorQuest Self Storage brand throughout California and other western states. WWG manages a total portfolio of 41,700 self storage units in 60 facilities in the Western U.S.
About The William Warren Group & StorQuest Self Storage
The William Warren Group, Inc. (WWG) is a privately held, fully integrated, entrepreneurial real estate company that develops, acquires and operates 60 self storage assets in Arizona, California, Colorado and Hawaii. Founded in 1994 and headquartered in Santa Monica, Calif., the company is a specialist in the self storage industry, operating under its StorQuest Self Storage brand. The firm manages a portfolio of 41,700 units totaling 3.8 million square feet. To learn more: www.williamwarren.com and www.storquest.com.