Prime Group Storage recently bought a portfolio of seven facilities in the Lexington, KY, market that operate as Safe Storage.
Prime Group Storage, based in Saratoga Springs, NY, secured nearly $26.8 million in mortgage financing to buy the portfolio, which includes an industrial building for commercial use. The purchase price was nearly $33.2 million.
The facilities are at:
- 910 Enterprise Court, Lexington, KY
- 2278 Frankfort Court, Lexington, KY
- 1030 Elizabeth St., Nicholasville, KY
- 1040 Elizabeth St., Nicholasville, KY (commercial property)
- 1070 Elizabeth St., Nicholasville, KY
- 251 Etter Drive, Nicholasville, KY
- 112 Industry Parkway, Nicholasville, KY
Sovran Self Storage
Sovran Self Storage, operator of the Uncle Bob’s Self Storage chain, recently bought four self-storage facilities in Florida for an undisclosed amount.
Sovran purchased the facilities from Mindful Management. The facilities operated as Security Self Storage.
The portfolio features 2,746 units and 284,798 rentable square feet.
The facilities are at:
- 8485 20th St., Vero Beach, FL
- 10725 S. Federal Highway, Port St. Lucie, FL
- 6800 N. Military Trail, Riviera Beach, FL
- 28239 S. Tamiami Trail, Bonita Springs, FL
A team at JLL Capital Markets led by Steve Mellon and Brian Somoza represented the seller.
W.P. Carey
New York City, NY-based W.P. Carey purchased the 110,000-square-foot self-storage facility at 11440 Blankenbaker Access Drive in Louisville, KY, for $10.2 million. Extra Space Storage is managing the 776-unit facility.
The seller was represented by Paul Grisanti and Mike Helline of Grisanti Group Commercial Real Estate.
Great Value Storage
Great Value Storage bought a portfolio of seven facilities in the Columbus, OH, market from Mini Storage Depot for an undisclosed price.
The portfolio consists of 3,537 units measuring about 450,000 square feet.
Great Value Storage is an arm of Austin, TX-based real estate investment firm World Class Capital Group.
Stein Investment Group
Real estate investment firm Stein Investment Group recently bought two facilities in Georgia.
Property records show Stein, based in Atlanta, GA, purchased the facility at 2016 Atlanta Highway in Cumming, GA, for $5.85 million and the facility at 1240 Alpharetta St. in Roswell, GA, for $12.85 million. Stein has rebranded the facilities under its The Space Shop Self-Storage brand.
The facilities, which span a combined 121,000 square feet, previously operated as Quality Self Storage. Stein plans to expand each facility to 100,000 square feet.
Public Storage
Public Storage recently bought a newly built self-storage facility in League City, TX, for an undisclosed amount.
The 762-unit facility, completed earlier this year, comprises 84,550 rentable square feet. Access Self Storage was the seller. The facility, at 3155 W. Walker St., was sold to Public Storage before it opened.
A team at JLL Capital Markets led by Steve Mellon and Brian Somoza represented Access Self Storage.
U-Haul
U-Haul recently bought the former Palo Verde Mini Storage in Mesa, AZ, for $3.9 million.
The 57,000-square-foot facility, at 255 E. McKellips Road, has 567 units. The seller developed the facility about 30 years ago.
Rein & Grossoehme Commercial Real Estate arranged the deal.
Other notable deals
- Curatolo Seabrook LLC purchased the 63,754-square-foot self-storage facility at 233 NH-107 in Seabrook, NH, for $5.8 million. The 583-unit facility was sold by the Marilyn T. Imke Revocable Trust. Joe Mendola of NAI Norwood Group represented the seller and assisted the buyer.
- Devon Self Storage purchased the self-storage facility at 4400 Ladson Road in Summerville, SC, for $6.5 million. Summerville Storage Associates LLC was the seller.
- Spring Grove Commerce & Storage purchased the 58,140-square-foot self-storage facility at 3103 Spring Grove Drive in Augusta, GA, for $1.5 million. The seller was Medco Buildings LLC.
- Atlanta Self Storage 18 purchased the 71,230-square-foot facility at 4400 Lawrenceville Highway NW in Lilburn, GA, for $3.6 million. Lilburn Storage LLC was the seller.
- Lakeview Partners Ltd. purchased the self-storage facility at 307 S. Butler Drive in Allen, TX, for an undisclosed price. The facility was sold by Alpha Self Storage, which had listed the property for $1.95 million.
- TNC Murfreesboro Storage LLC purchased the 27,600-square-foot self-storage facility at 405 W. Northfield Blvd. in Murfreesboro, TN, for $1.8 million. Store It All LLC was the seller.
