Sovran Self Storage Inc., a real estate investment trust that operates the Uncle Bob's Self Storage brand, recently sold one of its facilities in St. Louis to a limited-liability company. The property at 1036 Pershall Road is on 4.93 acres of land and encompasses 45,976 square feet of self-storage space in 331 units and 18 outdoor parking spaces. It’s 12 miles north of downtown St. Louis in the suburb of Florissant.
Constructed in 1979, the facility’s buildings consist of single-story brick and masonry construction. Unit sizes range from 3-by-6 to 40-by-24, with a combination of roll-up and swing doors. The property also has a retail office with an onsite manager’s apartment. Amenities include 24-hour access, computerized gate access and video cameras.
The property sold in 50 days, according to a press release from Marcus & Millichap Real Estate Investment Services Inc., which represented Sovran in the transaction. The brokers were Sean M. Delaney, vice president of investments, director of the National Self Storage Group and part of The Mele Group at the firm’s Chicago Oak Brook office, and Will Holman, investment specialist in the St. Louis office. The buyer was represented by Dave Knobler, an investment specialist in the firm’s Houston office.
Marcus & Millichap specializes in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the company has more than 1,300 investment professionals in offices throughout the United States and Canada.
Buffalo, N.Y.-based Sovran operates more than 500 self-storage facilities in 25 states under the Uncle Bob’s Self Storage brand.