Saratoga Springs, NY-based Prime Group Holdings recently purchased a portfolio of four self-storage facilities in New York and Massachusetts for a combined total of $23.5 million. The facilities will be rebranded under the Prime Storage banner.
The portfolio spans 250,000-square-feet of space across 2,000 units, according to the Albany Business Journal.
The facilities, previously operating under the name Safe Storage, are located at 1025 Central Avenue in Albany, NY; 50 Oliver Street in Cohoes, NY; 1110 Altamont Avenue in Schenectady, NY; and 901 Crane Avenue in Pittsfield, MA.
The portfolio was sold by brothers Elliott Feinman, Jeff Feinman and Barry Feinman.
A private investor purchased Diamond Self Storage at 4239 Modelwood Drive in Beverly Hills, FL for $3.15 million. The 44,793-square-foot facility offers 425 units and was built in 2002. Michael Mele, Luke Elliot and Brian Baldwin of Marcus & Millichap represented the seller, a local private investor.
The property went from listing to close in just 90 days.
“We drove multiple, qualified offers to the seller and ultimately closed with a regional investor outside the traditional buyer pool,” Elliott said.
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Extra Space Storage purchased the 77,000-square-foot facility at 10015 N. Eldridge Parkway in Houston, TX (pictured at top). The facility, operating under the name Eldridge FM 1960 Storage, was recently managed by The Jenkins Organization. Purchase price was not disclosed. Bill Bellomy, Michael Johnson and John Arnold of Austin-based Bellomy & Co. represented the Houston-based seller.
Boulder, CO-based Red Dot Storage recently purchased Barry’s Storage at 5465 East US Route 36 in Decatur, IL for $2.87 million, property records show. The facility offers 76,600-square-feet of storage space and 547 units. Sean Delaney and Michael Mele of Marcus & Millichap arranged the transaction on behalf the buyer and seller.
Stacey Gorman, vice president of investments in Marcus & Millichap’s Atlanta office, recently arranged the sale of two storage facilities in Newnan, GA for a combined $1.3 million. The two facilities, spanning a total of 64,680 square feet, are located at 205 Elzie Johnson Road and 28 Hillwood Circle. The facilities operated under the names Pak-N-Stak and Pak-N-Stor, respectively. Buyer and seller names were not disclosed.