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CT Realty Opens 65,000-SF Storage Site

NEWPORT BEACH, CA-The locally based company cuts ribbon on $3.9-million storage facility along the San Gabriel River, as part of its strategy to expand operations into the self-storage business. Similar projects are planned for Huntington Beach and Rialto.

By Erin Cassin | Updated on September 26, 2001

NEWPORT BEACH, CA-Locally based CT Realty Corp. has opened a 65,000-sf storage facility along the San Gabriel River, its latest move into the potentially lucrative self-storage segment of the commercial real estate market.

The facility, which is located in Bellflower, consists of 574 storage units and 127 spaces for recreational vehicles. It stands on an eight-acre parcel at 10326 Foster Rd. The land for the Bellflower Storage Outlet was purchased last year and was developed at a cost of $3.9 million, including land.

The Bellflower site was built as part of the Storage Outlet program, which is being financed through CT Realty’s own investment fund. Known as CT Self-Storage Fund LLC, it was established in 2000 to buy, develop and operate self-storage facilities. It was fully subscribed for $3.8 million, which was used to finance the first four Storage Outlet facilities.

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