StoragePRO Management Inc. has opened StoragePRO of Fairfield, a newly developed 131,000-square-foot facility in Fairfield, Calif. GC Construction & Development Inc. was the general contractor for the project.
Spanning on a 5-acre site, the facility comprises five two-story buildings and 930 indoor units, ranging from 10 to 800 square feet. The facility includes RV and boat parking options and drive-up access for select units.
Other facility features include a 24-hour surveillance video system, a leasing office with available moving supplies, no-contact online rentals and bill pay, 10-to-15-foot-tall ceilings and elevators, as well as water-conservation technologies.
Located in an underpenetrated market, at 475 Lopes Road, next to Interstate 680, the facility is the only one available within a 3-mile radius and one of the three available properties within a 5-mile radius, offering residents roughly 4 net rentable square feet per capita, below the 7 national average. There is only one facility under construction in the area, which will add 87,280 square feet to the existing inventory, Yardi Matrix data shows.
The San Francisco Bay Area registered a 2.1 percent year-over-year rent change for 10×10 climate-controlled units, as of January, remaining among the slowest-growing markets, despite being undersupplied, with 5.7 net rentable square feet of storage space available per capita.
StoragePRO currently owns 15 facilities totaling roughly 1.2 million square feet across California markets and manages another 85 storage properties across Western states, Yardi Matrix data shows.