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.

One of two Montgomery, AL facilities purchased by Metro Self Storage
One of two Montgomery, AL facilities purchased by Metro Self Storage recently

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. 

Recently sold:
Recently sold: Bright Star RV & Mini Storage in Chino Valley, AZ

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.

This
This storage facility in Carson City, featuring this retail component, sold recently for $2.85 million.

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.

Morningstar
Morningstar Properties purchased this Louisville facility recently with plans to rebrand.

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

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