US Storage Centers has purchased a two-property self-storage portfolio in Tucson, Ariz., from Lock-It Lockers Self Storage. Together, the assets comprise 77,750 net rentable square feet in 948 units. The facilities will be rebranded as US Storage Centers, company officials said in a press release.
“2014 has been about executing our plan for strategic growth in our core markets and especially in Arizona,” said Charles Byerly, president and CEO of US Storage Centers. “We now have a significant footprint in the Greater Phoenix market, and with the acquisition of these two well-located assets, we have now stretched our presence to the Tucson submarket.”
The Tucson properties are at 2825 N. 1st Ave. and 4115 E. Speedway Blvd.
“We look for opportunities where we can add value through operational and physical improvements, and these two properties meet our criteria perfectly,” added Mark McGilvray, executive vice president of US Storage Centers. “We see great potential for increasing revenue in these properties through our revenue-management and digital-marketing platforms. I’m very excited about the acquisition of these two storage facilities.”
Lock-It Lockers has one remaining storage facility in San Diego, according to its website.
Founded in 1985, US Storage Centers owns, operates or manages more than 75 self-storage facilities in 12 states including Arizona, California, Georgia, Florida, Nevada and Texas. It has more than 5 million rental square feet under management, including boat and RV storage.