Extra Space Storage Inc., a publicly traded self-storage real estate investment trust and third-party management firm, has acquired Space Plus Self Storage in Fort Lauderdale, Fla., for $24.7 million. The five-story building at 1850 Miami Road comprises 119,000 square feet of storage space.

Space Plus owner Connie Chaney purchased the 1.2-acre site in 1996 for $712,400. Construction commenced a year later. The property is near the Hyatt Place Fort Lauderdale 17th Street Convention Center and Port Everglades, a major foreign trade zone for warehousing and distribution activity, the source reported.

Headquartered in Salt Lake City, Extra Space owns or operates 1,523 self-storage properties in 39 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 1.05 million units and 115 million square feet of rentable space.

Source:
The Real Deal, Extra Space Storage Pays $25M for Fort Lauderdale Facility