MJ Partners Self Storage Group recently brokered the sale of five separate self-storage facilities, three in the Chicago area, one in New Jersey, and one in Ohio.
The two properties within Chicago consist of 204,000 rentable square feet and more than 900 units, and were purchased by JSM Ventures/Maxtrix Midwest Storage Fund. These facilities will be managed by Extra Space Storage. MB Financial provided acquisition financing for this transaction.
The former Storage Unlimited in Loveland, Ohio, was purchased by Bob Krumdieck of RJK and Associates for $1.5 million. The facility will be rebranded as Mt. Repose Self Storage and expanded upon from its current size of 37,184 square feet with 214 units. MJ Partners, in cooperation with A.M. Macy Co., represented the seller and buyer.
The Storage Stop in Burlington, N.J., located 20 miles northeast of downtown Philadelphia, was sold for $2.6 million. The facility features 53,774 rentable square feet on two stories with 562 storage units. The facility will be rebranded as Planet Self Storage by its new owners, Storage Investment Management Inc. David Kohn of MJ Partners represented both parties.