Storage Express has acquired Palm Storage in Richmond, Ind. The 200-unit, 24,000-square-foot facility, just north of downtown, is the company's second in the city. Storage Express plans to upgrade the property with improved lighting, security and access-control features, an automated, 24-hour rental center, and other amenities common to its portfolio.
Mickey Hurley, a broker with the Marcus & Millichap Real Estate Investment Services National Self Storage Group, represented Storage Express and the seller in the transaction.
Based in Bloomington, Ind., Storage Express owns and operates more than 75 self-storage properties across Illinois, Indiana, Kentucky, Ohio and Tennessee. The company has opened three facilities in Indiana over the past year and has others under construction. It is actively pursuing growth opportunities through acquisitions and real estate opportunities.