The Company has acquired the storage centers from Pogoda Cos. for $61.3M
March 10, 2015- Simply Self Storage (SSS) has bought the self-storage facilities which spans across Michigan. It consists of 749,436 square feet in 5,505 storage units and 498 vehicle spaces. The storage centers have climate-controlled units and 498 RV and vehicle spaces.
“The Michigan self-storage portfolio is an institutional-quality portfolio of well-maintained self-storage assets located in some of Michigan’s best markets,” LeClaire said in a press release. “The facilities are all well-located within their local markets, and as the economy in Michigan has stabilized, the monthly income of these assets has risen substantially.”
The self-storage facilities
have uncovered parking and drive-up units. Every facility has amenities such as manager’s office, perimeter fencing, keypad access, lighting and video cameras. Many of them also have onsite apartments for resident managers.
The seller was represented by several members of Marcus & Millichap Real Estate Investment Services Inc., including Charles “Chico” LeClaire, senior vice president of investments, Adam Schlosser, senior associate, and Matt Tyler, associate, from the Denver office, as well as Steve Chaben, senior vice president in the Detroit office and the firm’s broker of record in Michigan.
Read complete article on: http://www.insideselfstorage.com