Morningstar Properties LLC, which operates self-storage facilities under the Morningstar Mini-Storage brand, has acquired Morlake Self Storage in Mooresville, N.C., under its proprietary investment vehicle, Blue Doors Storage Fund II. The property at 568 Bluefield Road is on the north side of the Charlotte, N.C., Metropolitan Statistical Area (MSA), according to a company press release. Branded Morningstar of Mooresville, it’s the company’s seventh facility in the region.

Built in 2007 and expanded in 2014, the property comprises 62,000 rentable square feet of storage space in 430 climate-controlled units. It also offers RV parking. Morningstar plans to expand the facility by adding another phase of climate-controlled units.

“Morningstar of Mooresville is a quality addition to our existing market presence in the greater Charlotte MSA and well-located in a submarket Morningstar has served historically. The additional opportunity for immediate expansion helps Morningstar continue to provide a valuable neighborhood service to the growing Mooresville area,” said Dave Benson, president of Morningstar Properties. “The Mooresville/Lake Norman 77 corridor is a target for us as we continue to aggressively invest via development and acquisitions across the greater Charlotte MSA.”

Blue Doors Storage Fund II has acquired seven assets thus far and plans to buy another 10 stores across the Southeast this year, the release stated. It recently purchased two properties in Texas.

Founded in North Carolina in 1981, Morningstar Properties is a vertically integrated developer, operator and owner of real estate products focused primarily on self-storage and marinas in the Southeast. The company has acquired, developed and operated more than 136 self-storage projects across the country, totaling more than 8.9 million square feet. It currently owns and operates 37 self-storage centers in nine states, with most concentrated in the South.

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