Facility Offers Dual Income Opportunity with Both Industrial and Storage Use
Nipomo, CA— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $12,500,000 sale of Nipomo Self Storage, located at 542 Lindon Lane, Nipomo, CA. Senior Associate Shane Avera, Market Leader Maxx Bauman, and Managing Director Bill Pedersen represented the seller in the transaction.
Nipomo Self Storage offers both storage and industrial use. The property boasts 39,218 square feet of self-storage and 23,700 square feet of industrial, along with 4.62 acres of undeveloped land. The seller, a long-time self-storage owner and investor who has worked with Matthews™ previously, sold the property to reallocate capital from California into income tax-free states. The buyer, a California-based investor, acquired the facility in a 1031 Exchange to continue growing their portfolio across the state.
“Leveraging a marketing initiative helped us vet different groups, ultimately selecting the right buyer,” said Avera. “We were able to achieve the goals of each party, positioning both ends for continued growth and opportunity in their portfolios.”
The facility is located off the 101 Freeway, seeing over 64,000 vehicles daily. There are numerous income opportunities in this property, including self-storage, industrial, and developable land.
“The buyer acquired a facility with tremendous growth potential, as the current owners have not raised rents since the start of the pandemic,” said Bauman. “The buyers plan to develop the available land to maximize the investment’s potential.”
For more information, or to contact Shane Avera, Maxx Bauman, or Bill Pedersen please visit www.matthews.com.
Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 400 agents and support staff in 15+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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