Storage Chain Buys Fourth in Area

Storage Chain Buys Fourth in Area
Posted: 2/16/2017 Link:
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One of the nation's biggest operators of self storage facilities has swung another deal here.

National Storage Affiliates, a real estate investment trust, paid $4.48 million for the Value Self Storage at 2015 8th Ave. W. in Palmetto.

It was the company's fourth deal involving local storage facilities in the past year.

National Storage bought the 4.8-acre property from Investment Properties of Sarasota LLC, an Osprey company headed by James C. Rutledge, according to court records.

In November, National Storage paid $10.2 million for the iStorage at 6403 State Road 64 E. and $7.6 million for Lakewood Storage, 2709 Lorraine Road, both in Manatee County.

Last February, the Greenwood Village, Colorado-based REIT took over Sarasota's Hide-Away Storage Services, whose 14 properties along the West Coast became a participating regional operator in a deal valued at $115 million.

National Storage operates a chain of 450 self storage locations in 23 states.

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