U-Store-It acquired two N.Y. self-storage facilities totaling 2,204 units from Storage Deluxe for an undisclosed price. The facilities are located in Bronx and Brooklyn and include 12,160 square feet of warehouse space.
The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) brokered the sale. HFF senior managing director Aaron Swerdlin, managing director Doug McCarron and associate director Barbara Guffey led the investment sales team. HFF operates out of 17 offices nationwide and is a provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.
Given that the properties were located in the boroughs and due to Storage Deluxes strong reputation we had very strong interest in the offering and we are very pleased with the outcome. U-Store-It was an excellent buyer and performed extremely fast, said Swerdlin.
Storage Deluxe is a real estate company specializing in the acquisition, development and management of self-storage properties. The company owns, has interests in, and manages 29 facilities containing more than 3 million square feet of storage space.
U-Store-It is a self-administered and self-managed real estate company focused on the ownership, operation, acquisition and development of self storage facilities in the United States. The company owns, has interests in, and manages 483 facilities containing more than 31.5 million square feet of storage space.