StorageMart, a Columbia, Mo.-based self-storage operator with more than 165 facilities in Canada and the United States, has acquired a Store More America facility in Watsonville, Calif., for $19.4 million. The seller was Meritage Real Estate Development Group Inc., a Watsonville-based firm.
The facility at 6 Westgate Drive comprises 106,818 net rentable square feet of storage space in 918 units. Situated on nearly 6 acres of land, it was built in 1985, and then expanded in 1999 and 2014.
Bobby Loeffler and Tyler Skelly, self-storage specialists with commercial real estate brokerage The Loeffler Self-Storage Group (LSSG), represented the seller in the transaction. LSSG specializes in self-storage real estate in California and Nevada, having closed more than 80 transactions in those states.
Founded in 1999, StorageMart serves more than 75,000 self-storage customers. The company operates in Chinese, English, Punjabi, Quebecois French and Spanish.
Store More America operates 33 facilities in Arizona, California, Nevada and Texas.