Sold! Prestige Storage buys 12 facility portfolio in Michigan

Bruce Goldberg
April 25, 2023

Prestige Storage closed the acquisition of a 12 facility portfolio in western Michigan with partner Peaceable Street Capital. The facilities are located in Muskegon, Fruitport, Spring Lake, Kent City and West Olive. Together, the properties offer a total of 490,302 square feet of storage space and a total of 2,956 rental units. Expansions plans include the immediate addition of more than 100 outdoor parking spaces for vehicles. Columbus, OH-based Prestige operates more than 50 properties in seven states. The company recently hired Matthew Phillips as vice president of operations and Stacey Irwin as senior district manager for Michigan and Northern Ohio.

Prestige Storage acquired a 12 property portfolio in Western Michigan.

Spartan Investment Group bought Lafayette Parkway Self Storage in LaGrange, GA. The property will become FreeUp Storage LaGrange, and it has 469 units at 1385 Lafayette Parkway. The site includes 16 buildings with a total of 80,000 NRSF. LaGrange is the 14th facility under the FreeUp brand in Georgia. Spartan, based in Golden, CO, recently named Matthias Kellmer as president of FreeUp Storage, the national banner under which Spartan runs its 65-property portfolio, and Kevin Holst as chief legal officer.

Rosewood Property Co. bought a new Chapel Hill, NC self-storage facility at 12330 US 15 501 N. It has multiple stories, 76,501 square feet of rentable space, 751 climate-controlled units and 67 wine storage units. Extra Space Storage will continue to manage the site. Dallas, TX-based Rosewood’s self-storage portfolio spreads across 22 states. The company has 77 self-storage properties and total square footage of 62 million.

Marcus & Millichap announced the sale of B&C Storage in Auburn, NY. It has 24,094 square feet. Luke Dawley, Nathan Coe, Brett R. Hatcher and Gabriel Coe had the listing on behalf of the seller, an LLC. They also found the buyer, an LLC. John Horowitz, New York broker of record, helped close the transaction. B&C Storage was built in 1980 and has 219 non-climate-controlled units. This includes an adjacent parcel of 0.34 acres of expandable land in addition to the main parcel of 2.84 acres.

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