Compass Self Storage, a member of the Amsdell family of companies, has reached its 70-facility milestone with the purchase of AA Self Storage in Cold Spring, Ky., a suburb of Cincinnati. The property at 6307 Licking Pike is near Kentucky Routes 9 and 915. It was purchased by separate affiliates of Amsdell Group LLC and Compass Self Storage LLC and will be rebranded under the Compass name.
The facility comprises more than 65,000 net rentable square feet of storage space in 489 climate-controlled and drive-up units. It was built in 2001 and expanded in 2006. The 14.25-acre property has additional room for expansion. Amenities include electronic access, truck rental, and a retail center selling moving and packing supplies. The facility will also offer its customers online billpay and enable them to access the property’s gate via a smartphone app.
"The addition of this self-storage property will allow us to further expand in the greater Cincinnati market, and offer a convenient, one-stop shop for the moving and storage needs for the residents and businesses in this area," said Todd Amsdell, president.
The buyer and seller were represented in the transaction by Ryan Clark, senior vice president, and Jay Crotty, managing partner, of SkyView Advisors, a boutique firm specializing in self-storage acquisition, development, facility expansion and renovation, refinancing, and sales. Based in Tampa, Fla., the firm also has offices in Cleveland and Milwaukee.
Headquartered in Cleveland, the Amsdell Cos. draws its roots from the family-owned construction company founded in 1928. Since its inception, the company has been active in several billions of dollars of real estate ventures, with a primary focus on self-storage. It has owned and operated more than 500 storage centers under various trade names in more than 27 states. It currently owns and operates properties in Florida, Georgia, Kentucky, Michigan, Mississippi, New Jersey, Ohio, Pennsylvania, Tennessee and Texas.