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.

A second fund for $10 million is currently being formed to finance the next four to five projects. CT Realty has already announced that it will open two additional facilities by May 2002, one in Huntington Beach and the other in the Inland Empire.