Extra Space Storage Buys Memphis-Area Facility for $2.6M

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Extra Space Storage, a self-storage real estate investment trust based in Salt Lake City, acquired a facility in Cordova, Tenn., for $2.6 million. The seller, Georgia-based JF Storage Holdings LLC, purchased the facility in 2007 for $4.6 million.

The facility, 2855 Houston Levee Road, has 72,626 square feet. Built in 2006, the two-story facility sits on 3.7 acres.

The Shelby County Register of Deeds doesn’t show a financing deed filed at the time of sale. The Shelby County Assessor of Properties’ appraisal in 2010 was $2.7 million.

Extra Space owns or operates 820 self-storage properties in 34 states and Washington, D.C. The company’s properties comprise approximately 550,000 units and more than 59 million square feet of rentable space.

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