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Record self-storage property deal in Los Angeles shows sector resilience following pandemic

Hines' $91 million deal comes as US investment falls below prior years
The Extra Space storage facility in Cerritos, California, was built in 2020 by Capital 360 and global investment firm Barings. (CoStar)
The Extra Space storage facility in Cerritos, California, was built in 2020 by Capital 360 and global investment firm Barings. (CoStar)
CoStar News
October 3, 2024 | 9:33 P.M.

Global investment firm Hines has snapped up a self-storage facility in greater Los Angeles for $91 million, in what brokers are calling a record price for the sector that experienced surging demand during the pandemic.

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