ASB Capital Management has purchased two StorQuest Self Storage facilities in Denver in separate transactions for a combined total of $36.5 million. The properties will continue to operate under the StorQuest name, according to the source.
Acting as 4501 Washington LLC, ASB paid $19.8 million for the .9-acre property at 4501 N. Washington St. The three-story facility was built last year and comprises 77,500 square feet of storage space.
The second site, a .7-acre parcel at 549 Kalamath, was constructed in 2015 after StorQuest purchased it from 549 Kalamath SP LLC. The facility comprises 63,000 square feet of storage space. ASB made the $16.65 million purchase under the company name 549 Kalamath LLC, the source reported.
Based in Bethesda, Md., ASB is an investment-management firm that concentrates on the Washington, D.C., area. The company helps pension plans, unions, corporations, insurance companies, endowments, foundations and charitable organizations across the country, according to its website.
StorQuest is the operating brand for The William Warren Group. Founded in 1994 and based in Santa Monica, Calif., the company acquires, develops and operates more than 125 self-storage facilities in Arizona, California, Colorado, Florida, Hawaii, South Carolina and Texas.
Business Den, Two New Denver Self-Storage Facilities Sell for $36M