Westport Properties Inc. (WPI), which operates more than 120 self-storage facilities under the US Storage Centers brand, has purchased Philly Self Storage in Philadelphia. The facility at 1910 S. Christopher Columbus Blvd. will be re-branded as US Storage Centers, according to a press release. Near Interstate 95, it comprises 107,606 square feet of storage space in 1,545 units. Features include climate control, electronic-gate access and vehicle parking.
“This property is the perfect complement to our existing portfolio,” said Charles Byerly, CEO and president of WPI. “It is located in a high-traffic, heavily populated and underserved self-storage market. We are proactively looking for new investment and development opportunities that fit our growth strategy.”
The buyer and the seller were represented in the transaction by Nick Malagisi, national director of self-storage for SVN Commercial Real Estate Advisors.
WPI announced earlier this week that it has completed the development of its six-story property in Miami. Built in a partnership with The Feldman Cos., it comprises 166,256 square feet of storage space in 1,270 units.
WPI also purchased Magellan Storage in Commerce, Calif., in January. The 4-acre property is just off Interstates 5 and 710, and within 15 minutes of downtown Los Angeles.
Founded in 1985 and based in Irvine, Calif., WPI is a real estate investment company that acquires, develops and operates self-storage facilities as well as provides third-party management services. Its portfolio comprises 8 million rentable square feet in 15 states.