Ladera Ranch, CA-based Strategic Storage Trust II recently purchased the 74,800-square-foot storage facility at 3101 South Federal Highway in Boynton Beach, FL for $17.9 million (pictured above). The facility, formerly US 1 AC Storage, features 940 units and was 92 percent occupied at the time of sale.
SST II chairman and CEO H. Michael Schwartz said they plan to buy more facilities in the region.
“We will continue to build income producing portfolios located in top markets like Florida,” Schwartz said.
The operator’s other investment vehicle, Strategic Storage Growth Trust, also closed on a 49,250-square-foot storage facility at 875 E. Ashby Place in San Antonio, TX for $12.3 million. The property is the final piece to close of a four property portfolio which was previously covered here.
Extra Space Storage purchased the 113,000-square-foot facility at 100 Girvin Road in Jacksonville, FL for $9 million, according to the Jacksonville Business Journal. The facility was owned by Girvin Investments LLC and was managed by Uncle Bob’s Self Storage.
Public Storage purchased the 67,171-square-foot self-storage facility at 6801 Cortez Road W. in Bradenton, FL for $8.58 million, the Herald-Tribune reported. The property was sold by Sarasota-based Corsoto Storage Associates LLC and operated under the name Budget Self Storage.
Sarasota Springs, NY-based Prime Group Acquisitions LLC purchased two self-storage facilities in North Carolina for a combined $6.5 million. The facilities, located at 2575 Whiskey Road in Aiken and 441 Clemson Road in Columbia, span a combined 106,775 square feet. Fred Paris and Monty Spencer of Mid-Atlantic Commercial arranged the transaction.
Metro Self Storage purchased two facilities in the Atlanta, GA metro area for $9.2 million. The operator acquired the two-property Pak-It-Inn portfolio which includes the facility at 6800 Mableton Parkway in Mableton and the facility at 2609 Old Covington Highway SW in Conyers. The facilities offer a combined 882 units. Metro recently forged a partnership with Inland Private Capital Corporation to fund the acquisition of new facilities. Jay Crotty and Thomas Doyle of Tampa, FL-based BayView Advisors arranged the transaction.
GRW Investments LLC purchased four facilities in the Grand Rapids, MI area in separate transactions. The total list price for the four facilities was $6.65 million. The facilities include: the 46,050-square-foot facility at 5720 Samrick Avenue in Belmont, MI; the 44,542-square-foot Arroway Self Storage facility at 4121 14 Mile Road in Rockford, MI; the 54,878-square-foot Stor N’ Loc facility at 4970 West River Drive in Comstock Park, MI; and the 29,360-square-foot facility at 3344 West River Drive in Grand Rapids, MI. Pogoda Companies listed the properties for sale and has been hired by the buyer to manage the facilities under its National Storage Centers brand.
Sovran Self Storage purchased the 37,780-square-foot facility at 459 NW Market Place in Port Saint Lucie, FL for $2.57 million. The seller was Secure Holdings Market Place LLC.
Daut Family Trust purchased the 76,200-square-foot facility at 815 Wertz Avenue in Canton, OH for $2.25 million. The seller was LST, CO. John Streb of Hanna Commercial Real Estate arranged the deal.
Columbia, MO-based StorageMart added another Omaha, NE facility to its portfolio with the recent purchase of Cherry Hills Storage at 10010 Scott Circle for an undisclosed price. The facility, sold by Jasper Stone Partners, offers 531 units. The buyer was procured by Bill Bellomy, John Arnold and Michael Johnson of Austin, TX-based Bellomy, & Co.
Compass Self Storage, operated by Cleveland-based Amsdell Companies, purchased the 38,000-square-foot storage facility at 1144 Sigman Road in Conyers, GA for an undisclosed price. The facility is the company’s ninth acquisition in the Atlanta market. Amsdell was represented in the transaction by Chip Mack III with McWhirter Realty Partners.