StoreRight Self Storage has purchased a facility in Vero Beach, Fla., for $3.125 million. The facility was constructed in phases between 2005 and 2007, and comprises 62,000 square feet of net rentable space in more than 500 storage units. The purchase marks the fifth self-storage acquisition by StoreRight in the last 18 months.
We are excited to expand to the East Coast of Florida and look forward to continuing to grow our footprint in the Central Florida market, said Matt Clark, vice president of acquisitions.
The facility offers both climate-controlled and traditional storage units and reportedly has excellent visibility on U.S. 1, a major coastal highway.
Dave Heyink of Sperry Van Ness represented the seller in the transaction.
StoreRight is a family owned self-storage operator based in Lakeland, Fla. The companys five Florida facilities comprise more than 260,000 square feet of rentable space and 2,200 units.