Your Space Self Storage has acquired South Hudsonville Self-Storage, a 10-building property in Hudsonville, Mich., from a group of investors. The location at 4254 Central Parkway is comprised of 310 units and was near 100 percent occupancy at the time of purchase, according to a source.
The Hudsonville property is the fifth asset the self-storage company has acquired in the region. It recently converted a portion of the former Aslan Building at 600 7th St. N.W. in Grand Rapids into self-storage, according to the “Grand Rapids Business Journal.” The project was part of a mixed-used apartment development called 7th Street Lofts. The storage facility is listed on the loft directory as a Storage Pros location.
“With the economy in West Michigan continuing to show strength, we see the self-storage sector as a key part of the region’s growth because access to storage facilities is critical for families and small businesses in the area,” Andre Gardzella, owner of Your Space Self Storage, said in a released statement. “The South Hudsonville Self-Storage facility has enjoyed phenomenal success and popularity. As a local company, Your Space Self Storage is excited to take this facility to the next level of superior service.”
Representatives from the West Michigan office of global real estate firm Colliers International represented the buyer and sellers. The previous owners purchased the property in 2005.
In its most recent quarterly report, Colliers reported that self-storage demand in western Michigan increased 15.79 percent and lease transactions grew 7.5 percent from the previous quarter. “We see continued strong interest in the self-storage market, as we see in other industrial sectors,” said Trent Wieringa, an associate in Colliers West Michigan office. “Companies are looking to expand or relocate in West Michigan, and the self-storage market is part of that dynamic growth.”
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