08 Mar 2023
CHINO, CALIF., MARCH 8, 2023, Westport Properties, a premier owner/operator of industrial, self storage and multifamily assets nationally, has announced it has acquired a 701-unit self storage facility located at 13555 Ramona Avenue in Chino, California. With over 13.2 million rentable square feet of self storage facilities, the company will rebrand this facility under its US Storage Centers brand. “Despite an evolving economy and capital markets, fundamentals in the self storage industry remain stable,” said Charles Byerly, CEO of Westport Properties. “We’re moving forward with our business plan of continually looking to add high quality assets in major MSAs across the country and we expect to complete several acquisitions this year.”
Ideally located in Southern California’s vibrant Inland Empire, this property which is 99.5 percent leased is nearby several neighborhoods and cities including Chino Hills, Ontario, Montclair, Claremont and Pomona. It is also minutes from several colleges and universities including Western University of Health Sciences, Norco College, The Claremont Colleges and Mt. San Antonio College. The property consists of 13 buildings and features drive up accessibility, climate-controlled units, electronic gated access and 24-hour surveillance.
US Storage Centers represented itself in the acquisition.
About Westport Properties
Founded in 1985, Westport Properties (“WPI”) is an owner-operator of self storage, multifamily and industrial properties across the United States. The Company is a fully integrated operator that develops, acquires and manages its portfolio as well as providing third-party management services. As of January 2023, WPI has approximately 13.2 million square feet of self storage space under management and its total assets under management is approaching $3.2 billion with its US Storage Centers brand as well as over 750 multifamily units in two states while employing over 500 people nationwide. WPI is a founding partner of the 501(c)3 Kure-It, a non-profit organization that raises money for underfunded cancer research, and Charity Storage, a 501(c)3 that uses vacant storage units to raise money for local charities. To date, Kure-It has raised over $14M and Charity Storage has raised over $500K.
