Sales in Florida dominated self-storage acquisition activity in November. Most of the recent transactions identified by the SpareFoot Storage Beat over the last two weeks were located in the state.
Public Storage paid $8.5 million for this Orlando, FL facility
Public Storage purchased the 64,480-square-foot My Neighborhood Storage Center facility in Orlando, FL for $8.5 million according to property records. The facility at 10053 Lake Underhill Road was constructed in 1997 and totals 572 units. The facility is currently 92 percent occupied according to Marcus & Millichap’s Michael Mele, who brokered the transaction. The seller was Titan Liberty Lake Underhill Joint Venture.
Palm Beach Gardens-based Southern Self Storage acquired the 29,000-square-foot facility at 14 South 20th Street in Cocoa Beach, FL for $3.35 million. The seller was Redus One LLC. The 318-unit facility, built in 2009, was formerly managed by Extra Space Storage. The facility also features 5,000-square-feet of solar panels. Luke Elliott and Michael Mele of Marcus & Millichap brokered the transaction.
Southern Self Storage acquired this facility in Cocoa Beach, FL for $3.4 million.
Strategic Storage Trust II purchased the Rainbow Mini Storage facility in Tampa, FL for $3.2 million. The 50,070 square foot facility at 9823 West Hillsborough Avenue was built in 1985 and offers 513 units. Following the acquisition, Extra Space Storage now manages the facility. Tampa-based BayView Advisors brokered the transaction.
Strategic Storage Trust II continues to grow, picking up this facility in Tampa for $3.2 million
W.P. Carey, a New York-based real estate investment trust, acquired Airport Discount Storage in Kissimmee, FL for $4.95 million, property records show. The 84,030-square-foot facility at 1004 North Hoagland Boulevard is located near the Walt Disney Resort and offers 474 units. CubeSmart was tapped to manage the facility. Michael Mele of Marcus & Millichap arranged the transaction.
WP Carey purchased this facility in Kissimmee, FL for just shy of $5 million.
Jupiter, FL-based Your Self Storage LLC purchased the 27,696-square-foot self-storage facility at 19545 West Highway 50 in Dunnellon, FL for $1.6 million. The 219-unit facility was built in 1996 and operated under the name Out-Back Self Storage. Brian Baldwin, Luke Elliott and Michael Mele of Marcus & Millichap represented both buyer and seller.
Danbury, CT based Athena Real Estate acquired two self-storage facilities in Florida, which it will operate under the name Out O’ Space Storage. Athena acquirred the 27,000-square-foot Palm Bay Self Storage at 1895 Palm Bay Road NE in Palm Bay, FL for $1.2 million, property records show. The seller was an LLC based in Glen Allen, VA. Athena also purchased the 52,250-square foot Easy-Stor Self Storage at 13038 US Highway 301 in Dade City, FL. The buyer financed the purchase with a $1.9 million mortgage from C-III Commercial Mortgage.
Here are the recent self-storage transactions taking place outside of the Sunshine State:
Calico-Kingsburg LLC purchased the 99,923-square-foot Henderson EZ Storage at 2100 Simpson Street in Kingsburg, CA for $5.4 million.
Lex LLC purchased Sheppard Mini Storage at 8700 SE 29th Street in Midwest City, OK for $2.3 million. The seller was Pinnacle Investment LP.
In Self Storage Gp LLC purchased the 27,850-square-foot Elk Grove Personal Storage facility at 8585 Elk Ridge Way in Elks Grove, CA for $2.6 million. Performance Self Storage Group brokered the transaction.
Compass Self Storage acquired this facility in Asbury, NJ-, becoming its 60th location overall.
Compass Self Storage purchased the former ABM Self Storage in Asbury, NJ for an undisclosed price. The 64,000-square-foot facility at 190 Route 173 West is the 60th location to open under the Compass brand, which is operated by Cleveland-based Amsdell Companies.
Public Storage also recently acquired StorIt! at 8001 Barker Cypress Road in Cypress, TX from The Jenkins Organization for an undisclosed price.
