University Self Storage in Pensacola, Fla., was sold to University Storage Pensacola LLC. The seller was WCBB Investments & Management Inc., a Florida-based company founded in 2011.
The property at 8802 N. Davis Highway sits on 3 acres. It comprises 42,400 square feet of net rentable storage space in 334 units, 173 of which offer climate control.
"This off-market deal provided the buyer the opportunity to expand [its] footprint in the Florida Panhandle and continue to grow [its] self-storage portfolio,” said Thomas A. Doyle, senior vice president for SkyView Advisors, which helped broker the deal. Doyle and SkyView managing Partner Jay J. Crotty represented the seller in the transaction.
“This was an undermanaged facility, which provides a value-add opportunity for the buyer to implement [its] management team to begin to grow revenue right away,” Doyle added.
Florida-based University Storage Pensacola is led by principals Scott Myers, and Matthew and Scott Smoot.
Launched last year, SkyView is a boutique firm specializing in self-storage acquisition, development, facility expansion and renovation, refinancing, and sales. It has offices in Cleveland, Milwaukee and Tampa, Fla.