Premier Storage Investors LLC, a real estate investment and development company, recently acquired its first self-storage asset, Broadway Self Storage in Holbrook, N.Y. In addition, the company has six more storage properties under contract or letter of intent for an approximate purchase price of $30 million. The company plans to complete these real estate transactions in the next few months, according to a press release.
Broadway Self Storage, 640 Broadway Ave., offers climate control, individually alarmed units, and exterior parking for RVs, boats and other vehicles. Additional amenities include package-delivery acceptance, moving and packing supplies, and online bill-pay options.
“We are very pleased to have closed our first asset within the first six months of our company’s formation,” said James G. “Pete” Williams, a company principal.
Founded in January 2014, Premier Storage has an exclusive focus on acquiring and developing self-storage real estate within the top 40 U.S. metropolitan statistical areas, according to the release. Its executives have extensive experience within the self-storage real estate sector, having executed acquisitions, development and dispositions, the release stated.
Williams founded Premier Storage Solutions in 1997, and has developed 17 storage facilities. Previously, he served as vice president and senior vice president/director of acquisitions for Storage USA Inc. from 1989 to 1997. To date, Williams has been responsible for the acquisition, development and disposition of more than $2 billion of self-storage facilities and other real estate investments.
The company’s second principal, Douglas Michael McCarron, has more than nine years of experience in the self-storage property and capital markets. In 2007, he was a founding partner of Storage Investment Advisors, a self-storage investment firm. McCarron has been involved in more than $2.5 billion in self-storage transactions.