Andover Properties, the New York City, NY-based operator of Storage King USA, bought the self-storage facility at 7600 Alico Road in Fort Myers, FL, for $5.5 million. Alico Coad LLC sold the 72,745-square-foot facility, which operated as Alico Self Storage.
Jay Crotty and Thomas Doyle of Tampa, FL-based BayView Advisors arranged the deal.
“Alico Self Storage was an underperforming asset in a market with terrific growth prospects, and the new owners realized the potential of the property,” Crotty said.
The facility, built in 2002, offers 544 units. The property includes 12,000 square feet of retail space.
With the Alico acquisition, Storage King USA now owns six facilities in Florida.
Extra Space Storage
Salt Lake City, UT-based Extra Space Storage bought the self-storage facility at 1350 N. Wendover Road in Charlotte, NC, for $6.98 million.
The sellers, Alisa and Steven Hopper, operated the 58,565-square-foot facility under the name Carolina Climate-Controlled Storage of Charlotte.
Santa Monica, CA-based The William Warren Group, operator of StorQuest Self Storage, purchased the 38,000-square-foot self-storage facility at 11105 Mountain View Ave. in Loma Linda, CA, for $2.55 million. The property had been run by SoCal Self Storage, a Newport Beach, CA-based operator that now has 11 locations.
Dean Keller of Laguna Beach, CA-based Bancap Self Storage Group arranged the deal. Keller said the seller was a private company affiliated with SoCal Self Storage and self-storage owner Polo Properties.
Colorado Springs, CO-based HBJ Storage LLC bought the 97,400-square-foot self-storage facility at 1300 W. Stan Schlueter Loop in Killeen, TX, for $5.2 million. The facility operates as B.A. Emmons Self-Storage.
The facility includes a seven-unit retail center.
Bill Bellomy, John Arnold, Michael Johnson and John Owens of Austin, TX-based Bellomy & Co. arranged the deal.
Other notable deals
- The 49,925-square-foot self-storage facility at 4 Lotus Blvd. in Hackettstown, NJ, was sold to an unidentified buyer for $3.7 million. The facility operates as Storage Bin. Linda Cinelli of LC Realty, based in North Branch, NJ, arranged the deal.
- Lucky 7 Equity III LLC bought the 31,510-square-foot self-storage facility at 550 Fort Worth Drive in Denton, TX, for an undisclosed amount. The seller was Shaenshah Family LLC. The buyer secured a $1.19 million mortgage loan to buy the facility, which now operates as Iron Guard Storage.
- Devon Self Storage purchased the 83,155-square-foot self-storage facility at 7400 Blue Mound Road in Fort Worth, TX, for an undisclosed amount.
- A private investment group purchased the Stor Mor Self Storage facility at 1910 W. Trindle Road in Carlisle, PA, for $1.79 million. The 40,100-square-foot facility contains 316 units. York, PA-based Investment Real Estate LLC arranged the deal.