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A Los Angeles-area commercial real estate developer has submitted plans to build a three-story, 183,000-square-foot self-storage facility in Canoga Park, according to new documents filed at the city’s planning department this week. The developer and applicant, Capital 360 LLC, is registered to Brian Shniderson, a managing partner of Pasadena-based real estate investment company Veritas Realty Investment Group, according to business filings with the state.
Located at 7891 N. Deering Ave., the Canoga Park project site, which is owned by a family trust, currently holds an automobile impound yard and 64,000-square-foot warehouse that would be demolished to make way for two adjacent three-story self-storage buildings: one at about 76,000 square feet and the other at about 107,000. The facility would attract interest from “local residences, single-family neighborhoods, apartment buildings, and businesses in need of inventory storage,” the project team notes in application documents, specifying the nearby Warner Center neighborhood as an example.
“The proposed project would provide much needed supply of climate-controlled self-storage units to the area where inventory is scarce, resulting in higher rents. The local community around the site has an average supply of 4.75 feet per person within a 5- mile radius compared to the national average of 7.21 square feet per person.”
Named Canoga Storage, the project, which requires a conditional use permit, would bring 43 automobile parking spaces and 44 bike parking spaces.