Store It! @ Groves purchased a self-storage facility in Groves, Texas, from Gulfway Storage LLC.
The facility, 6701 Gulfway Drive, includes 67,013 square foot and 575 climate-controlled units. The building was converted to self-storage in 2004. The property was roughly 68 percent leased at the time of sale. The Jenkins Organization, Texas-based commercial real estate and development company, will operate the facility.
Brokers at Grubb & Ellis Co., a real estate services and investment firm, facilitated the sale. Steve Mellon, vice president and leader of the Self Storage practice group, represented the seller in the transaction in conjunction with Pete Williams, executive vice president, Investment Services, Grubb & Ellis|Memphis.
Grubb & Ellis Co. includes more than 5,200 professionals in more than 100 company-owned and affiliated offices.