Stor-n-Lok Warhouses Buys 3 Oregon Self-Storage Facilities for $11M

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Stor-n-lok Warehouses Inc. acquired three self-storage facilities in the Portland, Ore., area from Stor-room Mini Storage LLC for $11.25 million, an average of $81 per square foot. Although the three acquisitions were separate transactions, they closed on the same day.

The properties include a 59,661-square-foot facility at 4534 SE 17th Ave. in Portland. Built in 1990, the property sits on 1.8 acres. The facility sold for $6,188,072.

The second property, 24635 S.E. Stark St., in Gresham, Ore., sold for just over $3 million. The 48,004-square-foot facility is on 2.5 acres and was built in 1991.

The final property sold for about $1.8 million. The 30,400-square-foot facility, 1900 N.E. 181st Ave., was built in 1965. The Portland facility includes 1.3 acres.

Alan Wells of Commercial Associates in Corvallis, Ore., represented both parties in the related transactions.

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