Midgard Self Storage Acquires 2 Storage Now Properties in Bradenton, FL

Midgard Self Storage Bradenton FL LLC has acquired two Storage Now facilities in Bradenton, Fla., for $18.4 million. The properties comprise a combined 147,586 square feet of storage space. The sellers were Storage Now Inc. and Storage Now, Too LLC. The purchase price is believed to be the largest amount paid for a pair of storage assets in Manatee County, Fla., according to the source.

The facility at 5246 Lena Road in the Creekwwod East Corporate Park comprises 67,606 square feet on 9 acres. The other property at 8785 State Road 70 comprises 79,980 square feet on 6.53 acres.

“In the five and a half years that I have worked in the Manatee County Property Appraiser’s Office, I don’t know of any that sold for that much,” said Mark Johns, deputy appraiser for the county.

The land amount was the largest of all property transfers reported this week by the Manatee County Clerk of Circuit Court’s Office, the source reported.

Reliant Real Estate Management LLC, a self-storage development and property-management firm best known for operating storage properties under the StoreSmart Self Storage brand name, also owns facilities under the Midgard name. It currently operates a portfolio of 52 owned and managed self-storage facilities in seven states comprising more than 4.3 million square feet.

Source:
Bradenton Herald, A Company Paid More Than $18 Million for These 2 Buildings. It Could Be a Manatee Record.