Harvest Properties JV Acquires 2 Bay Area Self Storage Assets
The acquisition is adding 1,435 units to Harvest Properties' growing portfolio.
A joint venture between Harvest Properties and New York Life Real Estate Investors has acquired Best Self Storage Sonoma and Vallejo Self Storage, two self-storage properties in the San Francisco Bay area totaling 156,000 square feet. The properties were acquired for $44.2 million.
JLL Storage’s capital markets team brokered the sale on behalf Vallejo Self Storage.
Property profiles
Best Self Storage Sonoma, an 80,000-square-foot drive-up facility, was purchased in an off-market transaction. It features 516 units with an average unit size of 155 square feet. Located off the high traffic intersection of Fremont Drive and Mafei Road, the area sees more than 20,000 cars daily. The facility is approximately 40 miles away from downtown San Francisco.
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Vallejo Self Storage is located at 384 Fairgrounds Drive. The 919-unit, 76,000-square-foot facility came online in early 2025, according to Yardi Matrix information. It is the first self-storage facility to be built in the city in over two decades. The facility, which offers climate-controlled units, is located off Interstate 80. Unit sizes vary between 25 to 300 square feet.
Harvest Properties enlisted Extra Space Storage to manage both properties moving forward. By acquiring both assets, Harvest Properties is expanding their footing in a self-storage market in which they have a relatively small presence; they made their first acquisition last year.
