Bloomington, IN-based Storage Express bought a portfolio of 12 Storage General facilities in central Illinois from the Plummer family of RP Lumber Co. Inc., a home improvement and building materials retailer based in Edwardsville, IL.
The purchase price wasn’t disclosed; the portfolio was listed at $13.75 million. The portfolio comprises 370,000 net rentable square feet and about 2,300 units. The facilities are in the Illinois towns of Bethalto, Galesburg, Heyworth, Jacksonville, Lincoln, Macomb, Morton, Paris, Peoria, Pontiac, Troy and Washington. With this acquisition, Storage Express now owns 106 self-storage facilities in five states. The all-cash deal represents the Plummers’ exit from the self-storage business. Brian Kelly and Brett Hatcher, both of Marcus & Millichap’s The Hatcher Group in Columbus, OH, represented the buyer and seller.
Dallas, TX-based Montfort Capital Partners LLC, an investor in self-storage properties across the country, purchased Big & Safe Self Storage in Leander, TX, from an unidentified Vermont-based seller for an undisclosed amount. The facility, at 11800 Hero Way West, features 482 storage and parking units in 60,475 net rentable square feet. Extra Space Storage now manages the 4.6-acre property. Bill Bellomy, Michael Johnson and John Arnold, all of Austin-based Bellomy & Co., represented the seller and found the buyer.
Springfield Storage Depot of Springfield, OH, has a new owner. The names of the buyer and seller weren’t available. The purchase price wasn’t disclosed. The facility, at 1215 N. Belmont Ave., contains 509 units in 69,275 net rentable square. Marcus & Millichap’s The Hatcher Group, handled the deal.
Fenton Road Mini Storage in Grand Blanc, MI, has changed hands. The facility, at 7298 Fenton Road, encompasses 57,475 square feet with 260 storage units and an office/warehouse building. The purchase price wasn’t disclosed. The names of the buyer, an LLC, and the seller weren’t available. Zach Munce and Tom Berlin, both of Marcus & Millichap in Detroit, MI, represented the seller and found the buyer.
A private equity group purchased the 39,600-square-foot Stor-U-Self self-storage facility in Peabody, MA. The sale of the 488-unit facility was arranged by Aaron Swerdlin, Kenneth Cox and Geoffrey Millerd of NKF Capital Markets.
