GRW Investments LLC has purchased four separately owned self-storage facilities near Grand Rapids, Mich., for $6.65 million. They are:
- An unnamed facility at 3344 W. River Drive, Grand Rapids, Mich. Built in 1991, the property sits on 2 acres and includes six buildings comprising 29,360 square feet of storage space in 85 units. The list was price was $750,000.
- Arroway Self Storage at 4121 14 Mile Road, Rockford, Mich. The 44,542-square-foot facility was constructed in 1988 and expanded in 2005. Situated on 3.5 acres, it includes 11 buildings and 299 units. The list price was $1.8 million. The seller was Rocat Enterprises LLC.
- Stor N’ Loc at 4970 W. River Drive and 820 W. River Center Drive, Comstock Park, Mich. The 54,878-square-foot property was built in 1966 and expanded in 1986. Situated on approximately 3 acres, it includes 11 buildings and 229 units. The list price was $1.5 million.
- West River Storage Suites at 5720 Samrick Ave., Belmont, Mich. Built in 2007, the 46,050-square-foot facility sits on 5.5 acres and includes five buildings and 247 units. The list price was $2.6 million. The seller was West River Storage LLC.
The facilities will managed by Michigan-based property-management and real estate firm Pogoda Cos. and rebranded as National Storage Centers, according to a press release.
Mark Floria, a real estate advisor for Pogoda, represented the buyer in all four transactions. He also represented the sellers of the Arroway and West River facilities, the release stated.
Based in Farmington Hills, Mich., Pogoda Cos. is a self-storage operator with approximately 2 million square feet of self-storage space in Michigan and Ohio. The firm also provides brokerage, consulting, investment and management services to the self-storage industry through Pogoda Group Inc. and Pogoda Management Co.