Nationwide self-storage operator SecurCare Self Storage recently purchased four facilities amounting to more than 263,000 rentable square feet in Cleveland County, Okla., for $12.95 million. Cleveland County is directly south of Oklahoma City and includes the city of Norman, which is home to the University of Oklahoma.
The four facilities are former A+ Mini Storage properties. Three are in Norman at 4688 W. Main St. (421 units), 2430 12th Ave. N.E. (387 units) and 2002 Research Park Boulevard (311 units). The fourth is at 1001 S.W. 19th St. in Moore (598 units).
All of the facilities were built by Precision Builders and opened within the past 10 years. All have manager's apartments. The A+ Mini Storage brand, which did not include any other facilities besides those included in the sale, touts high occupancy rates and "Best Storage Facility" awards from local media. Two existing cell-tower leases were part of the transaction.
Micah Alcorn and Charles Nicholson of Domain Commercial LLC represented the seller and original developer, who was Sassan K. Moghadam of Norman. The transaction was facilitated through First American Title Insurance Co. in Denver.
Founded in 1988 and based in Colorado, the privately held SecurCare now has 140 storage facilities in 11 states.
- A+ Mini Storage: About Us
- CoStar.com: SecurCare Self-Storage Closes on Industrial Portfolio
- Norman Transcript: Firm Buys Local Self-Storage Units