Salt Lake City, UT-based self-storage REIT Extra Space Storage bought a self-storage facility in San Diego, CA, for $15.4 million. The seller was the original developer of the property.
Lock-It Lockers, which has been rebranded as Extra Space Storage, contains 56,700 rentable square feet and more than 750 units. The facility, at 1560 Frazee Road, is in San Diego’s Mission Valley area.
Dean Keller, president of Laguna Beach, CA-based Bancap Self Storage Group, brokered the deal. Keller described the facility as a “trophy property” with upside potential.
Malvern, PA-based self-storage REIT CubeSmart bought a self-storage facility in Oakland Park, FL, for $14.5 million. The 542-unit facility, with 63,430 rentable square feet, had been branded as Four Seasons Self Storage, according to The Real Deal. The facility is at 5061 Northeast 13th Ave. The seller was Fort Lauderdale, FL-based Warehouse Thirteen LLC, led by Layne Lott.
Raleigh, NC-based 10 Federal Self Storage purchased Superior Self Storage in Asheboro, NC, for an undisclosed amount. The name of the seller wasn’t available. The 18,825-square-foot facility, which has been rebranded as 10 Federal Self Storage, sits on 1.4 acres at 1825 N. Fayetteville St. The unit count for the facility wasn’t available. The Asheboro deal represents 10 Federal’s third self-storage acquisition. In May, 10 Federal launched a $10 million fund for purchasing self-storage facilities and converting them into unstaffed, fully automated operations. The company focuses on properties in the Southeast.
Michael Morrison of Hilton Head Island, SC-based commercial real estate brokerage firm Midcoast Properties handled the sale of the four-property Max Value Self Storage portfolio in the Atlanta, GA, metro area. The more than 15-acre portfolio feature over 79,000 rentable square feet. The deal included two development sites. The names of the out-of-state buyer and the seller weren’t available. The purchase price wasn’t disclosed; the list price was $8.45 million.
Commercial real estate brokerage firm HFF closed the sale of Atlantis Self Storage, a 35,400-square-foot self-storage facility on 11 acres in Bunnell, FL. The names of the buyer and seller weren’t disclosed, although the property is now branded as Snapbox Self Storage. The purchase price wasn’t disclosed. The facility is at 2303 N. State St. Handling the deal for HFF were Tom Doyle, Barbara Guffey, Wyatt Krapf and Jarrod Smith.