A 14-property self-storage portfolio, totaling approximately 8,923 units and 830,000 square feet of rentable space, was recently sold to two separate self-storage companies for an undisclosed sum.
The portfolio included self-storage facilities in California, Florida, Hawaii, Louisiana, New Jersey, New York, Pennsylvania and Texas. Public Storage purchased four properties in California and one in Hawaii totaling 3,528 units. Metro Self Storage purchased the remaining nine properties in the portfolio totaling 5,395 units.
The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) brokered the sale. HFF senior managing director Aaron Swerdlin and managing director Doug McCarron exclusively represented the unnamed seller.
HFF operates out of 17 offices nationwide and is a provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.