Andover Properties purchased Jim’s Stowaway, a 105,000-square-foot self-storage facility at 3527 Radio Road in Naples, FL from a private owner. The property, which has 13 buildings across 8.1 acres, will operate as Storage King USA. The facility has 600 units, including climate-controlled, and two retail sites held by Napa Auto Parts and KC Marble & Tile. Andover Properties now owns 158 facilities in 18 states, including 43 in Florida.
Source: Multi-Housing News
Houston, TX-based LandPark Advisors bought Park Central Self Storage, a 312-unit facility in Port Arthur on the Texas Gulf Coast. It sits on 3.8 acres and has 48,430 NRSF. LandPark, working in partnership with Sunset Capital, will operate the property under the Right Move Storage brand. Source: RE Business Online
Marcus & Millichap announced the sale of TEPCO Storage at 242 Deborah Drive in New Braunfels, TX. The 45-unit facility sits on 1.43 acres. Jon Danklefs, an investment specialist in Marcus & Millichap’s San Antonio, TX office, had the listing on behalf of the seller, an LLC. Sean Delaney, an investment specialist also in the San Antonio, TX office, found and represented the buyer, also an LLC.