Smart Stop Asset Management sold a two-property portfolio in Montgomery, AL, to Lake Forest, IL-based Metro Storage LLC for nearly $21.8 million.
Managed by Extra Space Storage, the self-storage properties offer a combined 158,238 square feet of rentable space and 1,555 climate-controlled units. The facilities are located at 6855
Vaughn Rd. and 310 Ray Thorington Rd.
Bill Barnhill and Stuart LaGroue Sr., both of Mobile, AL-based Omega Properties Inc., represented Smart Stop. Omega Properties is an affiliate of the Argus Self Storage Sales Network.
The Loeffler Self-Storage Group recently brokered the sale of two self-storage properties in the West. The Loeffler group represented the buyers, Paul and Tonya Middleton, in the nearly $3.2 million purchase of Bright Star RV & Mini Storage in Chino Valley, AZ. The new owners plant to make capital improvements to the investment property. Bobby Loeffler and Jeff Barlow handled the acquisition of the 444-unit property, which features 117,900 net rentable square feet on almost 6.2 acres.
In Carson City, Nevada, Loeffler represented A-American Self Storage Management Co. Inc. in the purchase of a 309-unit facility for $2.85 million. Safe Storage comprises 62,470 net rentable square feet on nearly 2.8 acres. The property also includes a retail building currently occupied by a hair salon and a liquor store.
Eagle Commercial Realty Services brokered the sale of 3D Storage in Vernon, AZ, for $770,000. The property was sold through a 1031 exchange. The self-storage facility offers more than drive-up units on nearly 30 acres. Jeff Gorden, vice president of Eagle Commercial Realty Services, and Seth Hodges, an associate at the Phoenix-based firm, brokered the sale. Eagle Commercial is an affiliate of the Argus Self Storage Sales Network.
Warden Storage Old Louisville LLC sold a self-storage facility in Louisville, KY, to Matthews, NC-based Morningstar Properties. The facility, West Hill Storage, features 82,712 rental square feet in a former manufacturing and distribution center. The facility will be rebranded as Morningstar Storage, with Extra Space Storage remaining as the third-party manager. Ashley Compton, national director of the Self Storage Group at Colliers International, represented the seller. Source: LinkedIn