Irvine, CA-based US Storage Centers has made its first acquisition in Texas. The company bought the self-storage facility at 800 Fulgham Road in Plano, TX, for an undisclosed amount.
Property records show the operator’s parent company, Westport Properties, financed the deal with a $5.3 million loan.
The facility previously operated as All Star Self Storage and was owned by a local partnership.
“We’ve had a lot of success with third-party management in Texas, and we’re excited to be acquiring our first of hopefully many properties in what we see as a competitive major US market,” said Charles Byerly, president and CEO of US Storage Centers.
The company manages eight facilities in Texas.
US Storage Centers also bought Vista Self Storage in Orlando, FL, for $11.8 million.
Broker Michael Mele of Marcus & Millichap told the Wall Street Journal that more than 18 operators submitted offers on the 97,000-square-foot facility, which is at 6707 Narcoossee Road.
Public Storage purchased the 716-unit self-storage facility at 1250 W. League City Parkway in League City, TX. The purchase price was not disclosed. The seller was High Point Storage.
The Glendale, CA-based self-storage REIT now operates 103 locations in the Houston, TX, market. This deal closely follows Public Storage’s purchase in April of the newly constructed Access Self Storage facility at 3155 W. Walker St. in League City.
Go Store It
Tennessee-based Go Store It purchased two facilities in Wilmington, NC, for $12 million. The facilities — at 5800 Market St. and 9100 Market St. — were owned and operated by Buford, GA-based StoreSmart Self Storage.
W.P. Carey, a commercial real estate REIT based in New York City, NY, purchased the facility at 3250 N. Buffalo Drive in Las Vegas, NV, for $9.8 million. The 82,622-square-foot facility previously operated as Red Rock Self Storage. It’s now managed by Extra Space Storage.
Metro Self Storage
Metro Self Storage purchased the self-storage facility at 4038 Sunrise Highway in Oakdale, NY. The facility, formerly Pond Road Self Storage, offers 45,200 square feet of rentable space inside 417 units.
“The addition of this facility will broaden the Metro Self Storage footprint in the market and enable us to better leverage our brand in the New York area,” said Matt Nagel, chairman of Metro Storage.
The purchase price was not disclosed. Nick Malagisi of Sperry Van Ness and Stephen McKnight of SV Knight Realty arranged the transaction.
The facility is Metro’s third in the New York market. A fourth location is under construction in Brooklyn, NY.
Compass Self Storage
Cleveland, OH-based Compass Self Storage bought the 72,000-square-foot facility at 2140 Jodeco Road in McDonough, GA, for $6.1 million. The facility is the eighth Compass Self Storage location in the Atlanta, GA, market. Devon Self Storage previously managed the facility.
Other notable deals
- Thomas D. and Ethel C. Unger Trust purchased the Mini Storall facility at 931 N. First St. in Silverton, OR, for $1.77 million. Kim and Candace Haakenson were the sellers.
- Jared Hamilton purchased the Empire Storage facility at 12367 S. Pasture Road in Riverton, UT, for $4.8 million. The 47,562-square-foot, 265-unit facility was built in 2001. Mark Jensen of NGKF Capital Markets arranged the deals.
- Edina, MN-based Mayflower Properties purchased the 40,000-square-foot self-storage facility at 9900 Vale St. in Coon Rapids, MN. The facility is the 10th location for the chain.