Dahn Corp., which operates 38 self-storage facilities under the Mini U Storage brand name, has acquired a AAAA Self Storage facility in Virginia Beach, Va., from Wyoming Associates LLC. Built in 2004 on more than 5 acres, the property comprises 57,275 net rentable square feet in 379 units, 147 of which are climate-controlled, according to a press release from SkyView Advisors, the investment-sales and advisory firm that represented the seller in the deal. The facility’s units range from 25 to 800 square feet. It also has one rentable parking space.
“This property is a well-located, stabilized storage asset, which attracted numerous regional and national buyers,” said Ryan Clark, director of investment sales for SkyView, which specializes in self-storage acquisition, development, facility expansion and renovation, refinancing, and sales. Based in Tampa, the firm also has offices in Cleveland and Milwaukee.
AAAA has five facilities in Virginia Beach, according to its website. The brand is operated through The Nicholson Cos. and affiliate AAAA Self Storage Management Group. The AAAA portfolio of 51 owned and managed properties spans fives states and comprises 3.8 million net rentable square feet.
Based in Irvine, Calif., Dahn Corp. develops and manages self-storage real estate investments through its Dahn America360 LLC division. The company and its affiliates have acquired, developed or sponsored more than 6.5 million square feet of storage under the Mini U Storage brand name. It currently owns 38 facilities comprising nearly 2.6 million net rentable square feet.