3375 MCMAUDE PLACE, SANTA ROSA, CA
RV, BOAT, AND VEHICLE STORAGE DEVELOPMENT
ACQUIRED (LAND) IN SEPTEMBER 2022

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Approximately 264,409 SF (6.07 acres) of land

Property is one mile from Highway 101 on/off ramps and 3.5 miles south of downtown Santa Rosa. It is ideally situated in the heart of an industrial subsector, yet very close to single-family and multifamily housing. Large parcels of well located industrial-zoned land in the area are difficult to find.

Initial plans to develop an RV/boat storage facility were disrupted by expensive environmental issues. Given related high costs, there are now more extensive plans to develop a combination of self-storage and warehouse buildings on the 6.07 acre site through a joint venture development with House Properties. https://houseproperties.us/ House Properties owns, operates, and has under construction multiple self-storage assets.

Fundamentals for vehicle storage sites have been very strong (high occupancy rates, rising rents) and good infill locations generate higher than average rents. Nationwide sales of RVs and boats have accelerated significantly over the past few years, beginning in 2020 with the Covid-19 pandemic.

Purchase price represents a significant discount to recent comparable sales of land.