Update on 4/17/13 – The Memphis, Tenn., self-storage facility recently purchased by the Amsdell family of companies was acquired for $1.3 million. The property was formerly called Four-Way Self Storage. The sellers were Chickasaw Land and Investment Co. Inc., Nelson F. Freeburg Jr., Houston L. Freeburg, Emily Freeburg Kay and Philip H. Freeburg, according to the source.
The Amsdell family of companies has purchased a self-storage facility in Memphis, Tenn. The facility has more than 52,125 net rentable square feet and will be operated by Compass Self Storage LLC. The property is located at 6780 Country Park Drive and offers drive-up access, outdoor storage, truck rental and a full line of moving supplies.
This location will be Compass’ sixth in the greater Memphis market. The transaction is the 19th self-storage acquisition Amsdell has completed since March 2012. The company has projected continued growth through facility acquisitions in select markets. “We are glad to expand our service area in Memphis and be able to offer quality self-storage solutions to more of our neighbors,” said Todd Amsdell, president.
Headquartered in Cleveland, the Amsdell Cos. draws its roots from the family-owned construction company founded in 1928. The company, which owns and operates self-storage properties in Florida, Georgia, Kentucky, Michigan, Mississippi, New Jersey, Ohio, Pennsylvania and Tennessee, has since been active in several billions of dollars worth of real estate ventures with a primary focus in self-storage.