National Storage Affiliates Trust (NSAT), a Maryland real estate investment trust (REIT) specializing in self-storage, has acquired Cecil’s Mill Self Storage in Great Hills, Md. The facility at 20184 Point Lookout Road sits on 4.06 acres. It comprises 54,135 net rentable square feet in 482 units, 29 parking spaces and “miscellaneous units,” according to a press release from SkyView Advisors, the self-storage investment-sales and advisory firm that helped broker the deal.
The property is visible to more than 20,000 vehicles per day, the release stated.
NSAT operates three facilities in Maryland comprising 176,612 square feet in 1,658 units.
The seller was represented in the transaction by Ryan Clark, director of investment sales at SkyView, 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.
Headquartered in Greenwood, Colo., NSAT is a self-administered and -managed REIT focused on the acquisition, operation and ownership of self-storage properties within the top 100 U.S. Metropolitan Statistical Areas throughout the United States. The company has ownership interest in 533 storage facilities in 29 states. Its portfolio comprises approximately 33 million net rentable square feet.