Compass Self Storage, a member of the Amsdell family of companies, has acquired a three-property A Mini Flex Storage portfolio from Isaacson Family Enterprises LLC in Montgomery, Ala. Together, the properties comprise 166,509 rentable square feet in 1,298 units and 76 vehicle-parking spaces. The Montgomery market is new for Compass, according to company officials.
The facilities are at 200 S. Arrowhead Drive, 4220 Troy Highway and 4365 Virginia Loop Road. They were built between 1980 and 2016 on a total of 12 acres, according to SkyView Advisors, the real estate firm that represented the seller.
“We are proud to expand our Compass Self Storage footprint into the Montgomery market with the acquisition of these three self-storage centers,” said Todd Amsdell, president of Amsdell Cos. “We are committing to several physical improvements at the properties to ensure that we deliver top-notch service and value to our customers.”
Improvements include office renovation, the addition of digital access control and upgraded security. The Arrowhead property will undergo a “major expansion,” according to a Compass press release. Each of the facilities offers climate control, drive-up units, truck rentals, and moving and packing supplies.
The acquisition brings the Compass self-storage portfolio to 76 locations nationwide. The company has been actively pursuing purchases this year and previously indicated it will continue to look for acquisitions and development in select markets.
SkyView Advisors is a commercial real estate firm specializing in self-storage acquisition, development, facility expansion and renovation, refinancing, and sales. Ryan Clark, senior vice president, represented Isaacson Family Enterprises in the transaction.
Headquartered in Cleveland, the Amsdell Cos. draws its roots from the family-owned construction company founded in 1928. Since its inception, the company has been active in several billions of dollars of real estate ventures, with a primary focus on self-storage. It has owned and operated more than 500 storage centers under various trade names in more than 27 states. It currently owns and operates properties in 15 states.