SecurCare Self Storage Inc., an affiliate of National Storage Affiliates Trust (NSAT), has acquired the two-property ValueSpace Storage portfolio in Georgia. The facilities at 141B Butterworth Road in Canton and 5990 Parkway N. Boulevard in Cumming are approximately 30 miles north of Atlanta.
The total net rentable area of the portfolio is 96,000 square feet, with the ability to expand, according to a press release from JLL (Jones Lang LaSalle) Capital Markets, the investment-management firm that brokered the deal. Property features include climate control, drive-up units, electronic access, perimeter fencing, outdoor parking, rental mailboxes and video cameras.
The transaction was brokered by Steve Mellon and Brian Somoza, managing directors of the National Self Storage Team for JLL. “The portfolio is well-occupied, and because each site has room for expansion, the new ownership has the opportunity to create additional revenue,” Mellon said.
Founded in 1988 and based in Lone Tree, Colo., SecurCare operates more than 140 storage facilities in 12 states.
Headquartered in Greenwood Village, Colo., NSAT is a self-administered, self-managed real estate investment trust operating 246 self-storage facilities comprising 14 million net rentable square feet. The company is owned by its affiliate operators, who are contributing their interests in their self-storage assets over the next few years as their current mortgage debt matures.
With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices operating in 80 countries and a global workforce of approximately 58,000. The firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet. It completed $118 billion in acquisitions, finance and sales in 2014. Its investment-management business, LaSalle Investment Management, has $53.6 billion of real estate assets under management.