Red Dot Storage, which operates 116 self-storage properties in 14 states, has acquired Montrose Storage in Fairhope, Ala. It’s the company’s 11th location in the state.
The property at 23800 U.S. Highway 98 comprises 43,856 net rentable square feet of storage in 301 units. Red Dot plans to upgrade the facility with a new access-control system, LED lighting and video cameras, according to a press release. The existing fencing will also be repaired and a 24-hour rental center added.
“This property is a great addition to our Alabama locations and our continued growth,” said CEO Seth Bent. “We look forward to providing the Red Dot experience to our new and existing customers in Fairhope.”
Red Dot also acquired Three Rivers Self Storage in Gulfport, Miss., last month. The facility comprises 30,600 net rentable square feet in 212 units.
The Red Dot brand is operated by Boulder, Colo.-based Sparkplug Capital LLC. Launched in 2013, its portfolio comprises 4.4 million net rentable square feet.