Public Storage Acquires Self-Storage Facility in Broadview Heights, OH

Public Storage Inc., a self-storage real estate investment trust, has acquired Broadview Mini Storage in Broadview Heights, Ohio. The property at 9100 Postal Drive comprises 47,650 net rentable square feet of storage space in 319 units as well as 38 outdoor parking spaces. Situated on 5.7 acres, it was built between 1997 and 2000, according to a press release from SkyView Advisors, the real estate firm that brokered the deal.

Public Storage Inc., a self-storage real estate investment trust, has acquired Broadview Mini Storage in Broadview Heights, Ohio. The property at 9100 Postal Drive comprises 47,650 net rentable square feet of storage space in 319 units as well as 38 outdoor parking spaces. Situated on 5.7 acres, it was built between 1997 and 2000, according to a press release from SkyView Advisors, the real estate firm that brokered the deal.

The buyer and the seller were represented in the transaction by Ryan Clark, senior vice president, and Jay Crotty, managing partner, of SkyView.

“Broadview Mini Storage was a high-quality, family-run asset in a desirable southern suburb of Cleveland. The deal demonstrates the ongoing strength of the market for stabilized self-storage properties in Ohio,” Clark said.

Based in Glendale, Calif., Public Storage has interests in 2,319 self-storage facilities in 38 states, with approximately 152 million net rentable square feet. Operating under the Shurgard brand name, the company also has 218 facilities in seven European countries, with approximately 12 million net rentable square feet.

SkyView is a boutique firm specializing in self-storage acquisition, development, facility expansion and renovation, refinancing, and sales. Based in Tampa, Fla., the firm also has offices in Cleveland and Milwaukee.

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