Irvine, CA-based US Storage Centers, owned by Westport Properties Inc., bought a self-storage facility in the Los Angeles suburb of Commerce, CA, from Los Angeles-based Magellan Group Inc. for an undisclosed amount. The 1,347-unit, 140,048-square-foot storage facility is at 5415 E. Olympic Blvd. Aside from traditional self-storage, the facility offers RV, boat and car storage. Greg Wells of Cushman & Wakefield’s office in San Diego, CA, represented the buyer and seller. Wells says the Magellan property drew interest from REITs, institutional investors, private equity investors and regional self-storage operators.
An unidentified LLC bought a self-storage facility in Millville, NJ, for $9 million from an unidentified private investor. Millville Self Storage, at 2303 W. Main St., is a 78,875-square-foot facility with 707 units and 44 parking spaces. It was built in 2005 and underwent an expansion in 2017. The 13.6-acre site has room for further expansion. Robert Bloch and Noah Obuchowski, both of Marcus & Millchap’s office in Washington, DC, and Michael Mele of Marcus & Millichap’s office in Tampa, FL, represented the seller and found the buyer.
A self-storage facility in Asheville, NC, has changed hands. South Park Storage, at 270 Mills Gap Road, is a 38,140-square-foot facility featuring 117 climate-controlled units, 140 non-climate-controlled units, 27 parking spaces and a non-climate-controlled workspace. Brian Fulton, Michael Mele and Luke Elliott, all of Marcus & Millichap’s office in Tampa, FL, represented the seller and found the buyer. Both the buyer and seller are private investors. The purchase price wasn’t available. “We worked with the seller over the last three years implementing value-add strategies to maximize the value of their property until they decided the time was right to sell,” Fulton says.
A self-storage facility in Orange Park, FL, has a new owner. Michael Mele and Luke Elliott, both of Marcus & Millichap’s office in Tampa, FL, represented the sellers, private investors whose identities weren’t available, and found the buyer, an unidentified private investor. The purchase price wasn’t disclosed. Best Little Storehouse, at 996 Blanding Blvd., is a 58,425-square-foot, 505-unit facility consisting of climate-controlled units, non-climate-controlled units, office spaces, and boat and RV spaces.
Private investors bought Bethel Self Storage Park in Bethel, NY, for $2.1 million from Steve and Angela Daley. The 11-building facility, at 1998 State Route 17B, consists of more than 200 storage units, including outdoor parking spaces, carports and “barn” storage units. The property, which sits on more than 6 acres zoned for agriculture, also includes a rental house and an apartment above the rental office. The facility can be expanded by 10,000 rentable square feet. George Hatchard of York, PA-based Investment Real Estate LLC represented the Daleys.
Michael Mele and Luke Elliott, both of Marcus & Millichap’s office in Tampa, FL, represented the seller and found the buyer of a self-storage facility in Sarasota, FL. The names of the buyer of Loc N’ Key Storage, an East Coast private investor, and seller, a local private investor, weren’t available. Loc N’ Key Storage, at 6720 S. Tamiami Trail, comprises 439 units within 30,544 rentable square feet on 1.56 acres. The purchase price wasn’t disclosed.
A self-storage facility in Yuma, AZ, has a new owner. An unidentified private investor purchased Fortuna Road Storage from an unidentified private investor. The purchase price wasn’t available. Fortuna Road Storage, at 11707 S. Fortuna Road, is 434-unit facility with 61,218 rentable square feet. It comprises traditional self-storage units and spaces for boats and RVs. The facility was expanded in 2015. Devin Beasley, who works in Marcus & Millichap’s office in Phoenix, AZ, and Luke Elliott and Michael Mele, both of Marcus & Millichap’s office in Tampa, FL, represented the buyer and seller.
North Carolina-based Outbox Self Storage bought a self-storage facility in Mooresville, NC, from Triple SSS Mini-Storage Inc. for an undisclosed amount. The facility features 750 units within almost 100,000 rentable square feet on nearly 9 acres. The facility, previously operating under the Triple SSS name, is at 2702 Charlotte Highway.