Compass Self Storage Grows Florida Portfolio
- Nov 25, 2019
Compass Self Storage has expanded its footprint with the acquisition of an approximately 86,000-square-foot Class A facility in St. Augustine, Fla. Atlantic Investors Group traded the LifeStorage branded and managed property, according to Yardi Matrix.
Located at 250 Sandy Creek Parkway, alongside Interstate 95, the facility is around 18 miles from downtown St. Augustine and 22 miles from downtown Jacksonville. The facility is situated near other retailers and services, such as Goodyear Auto Service and Winn-Dixie. Approximately 26,000 people live within a 5-mile radius, Yardi Matrix shows.
Completed in 2018, the four-building facility occupies 5.2 acres and features units ranging from 25 to 300 square feet. Characteristics of the asset include climate control, drive-up access, security cameras and parking and RV parking spaces. Other services provided are on-site management and truck rental options. The buyer plans to upgrade the facility with smart locks, new lighting and individual access control.
Earlier this year, Compass Self Storage purchased a 98,000-net-rentable-square-foot facility in Largo, Fla., for nearly $10 million.