2615 East 12th Street, Oakland, CA: In 2014, McGrath Properties acquired this 1000-unit self-storage facility out of receivership and, in 2015, acquired the adjacent property out of foreclosure. Together these sites make up almost 7-acres. Under McGrath’s management, the existing storage buildings were rehabilitated and a new management firm was brought in to run the daily operations. Since acquisition, occupancy has increased from 72% to 94% and revenue has increased by 36%. Next to the MyStorage site is an acre of underutilized land McGrath plans to develop.
