FOR IMMEDIATE RELEASE
Contact: Anthony Morrow
Tel: 562-467-1324
E-mail: AMorrow@UnionDevelopment.com
STORAGE SOLUTIONS ACQUIRES ELSINORE VALLEY SELF STORAGE
TO EXPAND WEST RIVERSIDE COUNTY PRESENCE
Store to be Rebranded “Storage Solutions”
LOS ANGELES, California (August 31, 2009) – Storage Solutions, through its affiliates, Barker Pacific Group (BPG) and Union Development Company (UDC), has acquired Elsinore Valley Self Storage, a self-storage and RV storage facility located in the city of Lake Elsinore, in Western Riverside County, California, from DGS Development Partners, a California company.
The acquisition includes over 100,000 square feet of rentable space with 600 storage units and RV parking spaces on six acres. The transaction brings Storage Solutions' total number of stores to 19 serving the Southern California markets of Los Angeles, Orange, Santa Barbara, Riverside, and San Bernardino counties. The newly acquired store will be re-branded to the Company’s self-storage portfolio name to be known as Storage Solutions Elsinore Valley Central.
Michael Barker, UDC Chairman and Managing Director of BPG, said, “We’ve been ready, but patient, to grow our portfolio. This acquisition strengthens our position and diversifies our product offering in this rapidly growing area.”
Jae Ho, Storage Solutions Operations Manager, said, “We’ll work to ensure this is an easy transition for existing customers. As we integrate our systems and approach, we’ll be able to provide existing and new customers the benefits of Storage Solutions.”
Storage Solutions Elsinore Valley is located at 550 Central Avenue, Lake Elsinore, CA 92530.
About Barker Pacific Group:
Barker Pacific Group is a firm comprised of experienced real estate professionals active in asset management, acquisitions, and development of major commercial projects. The company was founded more than 25 years ago to specialize in the development and acquisition of institutional quality office, retail, and residential projects in select U.S. cities. For more information, visit www.BarkerPacific.com.
About Storage Solutions:
Storage Solutions is a growing leader in the self-storage industry, offering consumers and businesses a variety of self-storage space and supplies at 19 convenient store locations in Southern California. Storage Solutions is the self-storage division of Union Development Company. UDC has been developing real estate in Southern California for over 100 years. The firm holds more than 1.7 million square feet of property in its portfolio including retail shopping centers, industrial parks, and self-storage facilities and R.V. and boat storage facilities that are branded under the Storage Solutions name. Both company are based in Cerritos, California, and co-owned in a joint venture by BPG and New York-based Angelo, Gordon & Co., a leading investment management firm specializing in non-traditional assets. For more information, visit www.StorageSolutionsCA.com.
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[ Original Press Release - PDF | 24 KB ]
