Buchanan Street Partners, LP, a Newport Beach-based real estate investment management firm, has entered the Northern California market, acquiring a stabilized, institutional quality self-storage facility located at 12200 Rock Creek Rd. In Auburn.  

The 116,500-square-foot facility, comprised of 825 self-storage units and 40 RV parking spaces, was purchased for $20.75 million in an off-market transaction with a private owner operator. Westport Properties, Inc. will act as the property manager for the facility, operating the property under its US Storage Centers brand. 

“The Auburn transaction represented a unique opportunity for us to acquire a high-quality stabilized self-storage property near replacement cost and with plenty of upside potential through professional third-party property management,” said Buchanan VP Feerooz Yacoobi. “Aside from operational efficiencies and enhancing the online presence for the facility, the property offers an additional value-add opportunity with over two acres of vacant land that could allow for future expansion.”