Metro Storage has added its fourth location in the Philadelphia metro area with the purchase of Limerick Self Storage in Limerick, PA.
Metro Storage bought the 851-unit facility at 60 W. Ridge Pike (pictured above) for $9.93 million, according to Montgomery County property records. The facility, built in 2008, features more than 78,000 square feet of rentable space.
“This is a great store in a fantastic location,” Metro Storage Chairman Matt Nagel said. “We’re excited to expand our presence in the Philadelphia market.”
Prime Storage Group
New York storage operator Prime Storage Group has expanded into the Mid-Atlantic with the purchase of three storage facilities in Williamsburg, VA.
The investment firm bought Williamsburg Storage at 5151 Mooretown Road for $3 million, Climatrol Self Storage at 9297 Pocahontas Trail for $3.1 million and AAAA Self Storage at 6515-A Richmond Road for $6.1 million. Combined, the facilities total 181,000 square feet.
Bob Moser of Saratoga Springs, NY, and Bob Morgan of Rochester, NY, run Prime Storage Group. The company has 16 facilities in New York, Connecticut, New Hampshire and Maine. Moser and Morgan also are partners in Morgan Management, which owns more than 20,000 apartments in 11 states, along with other properties.
Monty Spencer Jr. and Fred Paris, both of Mid Atlantic Commercial, brokered the deal. Paris told a local newspaper that Prime Storage Group is searching for other storage facilities in the Williamsburg area.
Bloomington, IN-based Storage Express snapped up a 35,000-square-foot facility in Columbus, OH, for $740,000, local property records show.
Storage Express bought the 7-year-old facility from a local partnership. This is the company’s sixth facility in Ohio. Storage Express has more than 80 locations, primarily in Indiana.
All Stor Self Storage
All Stor Storage bought a storage facility at 520-540 Highland St. in Mount Holly, NC, for $3.55 million. W & B Dev LLC sold the 79,390-square-foot facility, which has 600 units.
The facility was built in 1997 and expanded in 2003 and 2007.
All-Stor, based in Hudson, OH, was founded in 2013. Steve Osgood leads the company; he is former president and chief financial officer of CubeSmart predecessor U-Stor-It Trust. The company owns 13 facilities in North Carolina, South Carolina, Florida and Kentucky. San Antonio-based investment firm McCombs Partners is an investor.
Tami Little of SouthMark Properties brokered the deal.
Other notable deals
- Houston-based North Fry Road Self Storage bought an 86,962-square-foot facility at 5425 N. Ferry Road in Katy, TX, for $3.9 million. Toro Properties sold the facility.
- Kucich Ltd., a Stockton, CA-based real estate investment company, bought a 37,000-square-foot, 300-unit storage facility at 2105 Fairview Drive in Ceres, CA, for $1.5 million. The seller was a private family trust. The facility was built in 2003.
- Ample Storage bought a 27,625-square-foot facility at 318 Seaside Road in Sunset Beach, NC, for $1.23 million. The seller was Sunset Beach Mini Storage. Stacey Gorman of Marcus & Millichap’s Atlanta office brokered the deal. Ample Storage operates more than 50 facilities in North Carolina and Virginia.
- Portland, OR-based South County East 80 LLC bought a 47,910-square-foot facility at 4200 N. Black Canyon Highway in Phoenix for $1.5 million. The seller was Platinum Black Canyon High. Nicholas Walker of Marcus & Millichap brokered the deal.
- South Sound Storage bought a 16,775-square-foot facility at 18807 38th Ave. East in Tacoma, WA, for $1.3 million. Joe Kitchen Jr. Construction sold the facility. Max Lohn of Reward Realty brokered the deal.
- Barber Storage Yucca Valley bought a 41,476-square-foot facility at 7340 Hopi Trail in Yucca Valley, CA, for $1.98 million. White Brothers Investments was the seller. Commercial broker Thom Gottberg of Palm Desert, CA, brokered the deal.