Central Coast Self Storage Property Opens Doors
Construction on the 105,000-square-foot StorQuest facility in Santa Maria, Calif., began in early 2019, backed by financing from Pacific Western Bank.
Image by Joshua Coleman via Unsplash.com
The William Warren Group’s StorQuest Self Storage has opened a new, 105,000-square-foot facility in Santa Maria, Calif. Development work had begun in early 2019, financed by a $10.5 million construction loan from Pacific Western Bank, according to public records.
Located on 3.6 acres at 1400 W. Betteravia St., the property is 2 miles north of Santa Maria Airport and 3.5 miles southwest of the city center. Yardi Matrix shows the facility is also within 2 miles of more than 2,700 multifamily units.
The fully fenced-in property’s units range in size from 25 to 1,156 square feet. The StorQuest facility features climate-controlled units, 24-hour security, and drive-up access. Additionally, storage space for motorcycles, cars and RVs is available on-site.
With the COVID-19 pandemic beginning to impact virtually all commercial real estate sectors, self storage properties have also begun to feel the effects. Rents—already in decline across the country—started to drop at a faster rate, though development activity still continues in most metros. However, with so much economic uncertainty ahead, developers will likely begin pumping the brakes on new projects in the sector.
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