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Victoria multi-storey self-storage asset trades for $26.7M

Forward sale completes after 18 months for near asking
2120-quadra-street-victoria
Bluebird Self-Storage acquired 2120 Quadra St., Victoria, for $26.7 million on March 7.

DEAL | Toronto-based Bluebird Self Storage acquired a new, four-storey self-storage asset at 2120 Quadra St., Victoria, from local operator Target Self-Storage on March 7. With 523 units totalling 42,726 square feet, the centrally located facility sold for $26.7 million or an average of $625 per square foot. Brokered by Scott Humphreys, the deal proceeded as a forward sale basis with the final value just short of the list price of $27 million when the asset was brought to market in fall 2023.

PRICE | $26,700,000

FROM | Scott Humphreys