LifeStorage picked up a portfolio of four facilities in Boulder, CO for $56 million, local property records show.
The facilities were sold by Heitman and managed by SecurCare Self Storage.
The portfolio spans 324,000 square feet and offers 3,000 units. Steve Mellon and Brian Somoza of JLL represented Heitman in the transaction.
The facilities are located at 5815 Arapahoe Avenue, 6338 Arapahoe Avenue, 6405 Odell Place, and the facilities at 4545 and 4667 N. Broadway are operated as a single unit.
Heitman acquired the portfolio from U-Store-It Trust in 2009 for $26 million. Prior to that SecurCare sold the portfolio to U-Store-It for $31.6 million in 2006, according to Inside Self Storage.
A local family trust purchased Issaquah Newport Way Storage at 795 NW Juniper Street in Issaquah, WA for $15.5 million property records show. The seller was another local company. The facility offers 518 units and was built in 2009. The seller was represented by Chico LeClaire of the Marcus & Millichap Denver office, the buyer was represented by Golden and Associates.
Sovran Self Storage, operator of Uncle Bob’s Self Storage, purchased the facility at 9000 Gale Boulevard in Thornton, CO for $9.43 million, local records show. The facility was sold by area investment group TRC Companies and managed by Extra Space Storage. The facility offered 521 units and was built in 2011. Adam Schlosser and Chico LeClaire of Marcus & Millichap arranged the transaction.
“The transaction shows the interest local investors have in Class A properties that are very difficult to replicate and demonstrates that private money can compete with national REITs,” LeClaire said
Huntersville, NC-based River Rock Capital Partners recently purchased the 46,500-square-foot Enterprise Self Storage facility at 2812 Enterprise Avenue in Fayetteville, NC. About $600,000 of the total equity was funded by outside investors, who contributed using River Rock’s online investment platform.
The facility offers 285 units and will be managed by Extra Space Storage.