Midcoast Properties Arranges Multi-State Storage Sale
- Sep 10, 2020
Midcoast Properties has brokered the disposition of Your Extended Attic Storage, a five-facility portfolio encompassing 293,000 net rentable square feet spread across 1,976 non-climate-controlled and climate-controlled units in Alabama and Tennessee. Associate Broker Michael Morrison negotiated the deal on behalf of the seller and sourced the buyer, Highline Storage Partners.
The portfolio included the following properties:
- Tennessee: 2 Simmons Road, Park City; 1231 Huntsville Highway, Fayetteville; 1903 N. Washington St., Tullahoma
- Alabama: 108 Twin Rivers Drive, Hazel Green; 12215 Highway 431/231 N. Meridianville
The facilities were completed between 2006 and 2019 and occupy more than 20 acres. The new owner has chosen USA Storage Centers to oversee management operations for the assets. The properties provide units ranging from 25 to 300 square feet and have drive-up access, gated entries and security cameras. The northernmost site—Tullahoma—is nearly 50 miles from the southernmost store—Meridianville.
In July, a Midcoast Properties team including Morrison and Dale Eisenman facilitated the $6 million sale of Leland Self Storage, a 54,625-square-foot facility in Leland, N.C. A private investor acquired the asset from Ultimate Storage Co.