An unidentified partnership purchased MoreSpace Mesa Southern Ave. in Mesa, AZ, for $7.25 million from another unidentified partnership. The facility, at 4550 E. Southern Ave., has 722 units in 57,475 net rentable square feet. Michael Mele and Luke Elliott, both of Marcus & Millichap’s office in Tampa, FL, and Devin Beasley of Marcus & Millichap’s office in Phoenix, AZ, represented the seller and found the buyer.

This Mesa, AZ storage facility recently changed hands for $7.25 million.

A two-facility self-storage portfolio in Michigan has a new owner. An unidentified LLC purchased two S & J Self Storage facilities from another unidentified LLC. The purchase price wasn’t disclosed. The portfolio was listed at $2.2 million. The two facilities total 45,420 square feet, split between 2537 Shirley Drive in Jackson, MI, and 11793 E. Chicago Road in Jerome, MI. The properties sit on a total of 8.2 acres, with 309 storage units and 60 outdoor parking spaces. The facilities now operate under the Essential Storage brand. Tom Berlin and Zach Munce, both of Marcus & Millichap’s office in Detroit, MI, represented the buyer and the seller.

A five-property self-storage portfolio in Illinois has changed hands for $1.275 million. An unidentified self-storage operator purchased the facilities from an unidentified seller through a 1031 exchange. The portfolio, totaling 47,000 square feet, consists of four Midstate Mini Storage properties in Kewanee, IL, and one Pay & Store Self Storage property in Atkinson, IL, as well as two apartments. The Kewanee facilities are at 1313 W. Sixth St., 817 Lake St., 604 N. Tremont St. and 1103 N. Main St., and the Atkinson facility is at 514 N. Spring St. David Coupe of SVN Chicago Commercial represented the seller. The portfolio was listed for $1.5 million.

An unidentified self-storage operator bought Affordable Storage in Princeton, MN, for $295,000 from an unidentified seller. The facility, at 31503 125½ St. NW, has 6,625 rentable square feet and occupies a 0.69-acre site. The facility was listed in May 2017 for $375,000. Tom Flannigan of KW Commercial Minneapolis, a broker who’s affiliated with the Aurora, CO-based Argus Self Storage Sales Network, represented the seller.

Ladera Ranch, CA-based Strategic Storage Trust IV Inc., bought Puyallup Mini Storage in Puyallup, WA, from an unidentified LLC. The purchase price wasn’t disclosed. The facility, at 1401 N. Meridian Ave., offers 780 units in 85,105 net rentable square feet, as well as 48 rentable outdoor parking spaces. It features 13 drive-up buildings and a leasing office with a manager’s apartment. The facility now operates under the SmartStop Self Storage brand. Charles “Chico” LeClaire and Adam Schlosser, both of Marcus & Millichap’s office in Denver, CO, represented the seller.

 

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