Hollywood Investment Company purchased the 126,963-square-foot self-storage facility at 777 Panther Drive in Reno, NV for $10.9 million. The facility offers 790 units and is comprised of 22 single-story buildings (pictured above). The facility operates under the name Stor-All Self-Storage. Bobby Loeffler represented the seller, Stor-All Reno LLC. John Pinjuv of Avison Young represented the buyer.
Strategic Storage Trust II purchased the 53,630-square-foot self-storage facility at 6950 S. Gartrell Road in Aurora, CO. Property records show the facility was sold for $10 million. The seller was SRSS LLC.
“This facility is in a solid retail location—a growth market with excellent demographics,” Michael Schwartz, chairman & CEO of SST II, said in a statement. “We will continue to focus on major metros, like the greater Colorado market, which offer tremendous long-term value.”
The facility, built in 2012, sits on a 5.51-acre parcel and is 95 percent occupied. Formerly Saddle Rock Self-Storage, the facility will be managed by Extra Space Storage.
Westport Properties operator of US Storage Centers purchased a three-property portfolio in Phoenix, AZ that features a total of 75,000-square-feet of rentable space and 1,507 storage units. The facilities are located at:1940 E. Indian School Rd.; 4817 N. 7th Ave.; and 2563 W. Indian School Rd.
“The acquisition of this portfolio marks a great start to 2017 and indicates how full our acquisition and development pipeline is for the rest of the year,” said Jason Lopez, vice president of marketing.
The company now operates four facilities in Phoenix, and Lopez said it has existing plans to buy another four facilities in the market early this year.
An undisclosed buyer purchased a 178,680-square-foot portfolio of four self-storage facilities in Montgomery, AL. The facilities operated under the name Storage Depot at time of sale. Purchase price was not disclosed.Michael A. Mele, Eddie Greenhalgh and Preston Cooper, investment specialists in Marcus & Millichap’s Tampa and Birmingham offices, represented the buyer and seller. The buyer was also represented by Sean M. Delaney of Marcus & Millichap’s Chicago office.
U-Haul recently purchased Space Savers self-storage, a 260-unit facility at 210 S. 7th Avenue in Scranton, PA.
Compass Self Storage entered the North Carolina market with the purchase of a portfolio of three facilities in the Raleigh, NC MSA. The facilities span a combined 265,000 rentable square feet. Amsdell Companies, operator of Compass, was represented by Chip Mack III of McWhirter Realty Partners. The facilities are located at: 1401 Wendell Blvd. in Wendell, NC, 1301 Parkway Drive in Goldsboro, NC, 206 N. Berkeley Blvd. in Goldsboro, NC. Purchase price was not disclosed.