StorageMart Expands Iowa Footprint

The company has added a total of 58,350 square feet of storage space to its Des Moines portfolio. Bellomy & Co. represented the seller and procured the buyer.

Afford It Storage, Grimes, Iowa
Afford It Storage, Grimes, Iowa

StorageMart has purchased two self-storage facilities in suburban Des Moines, Iowa, totaling 58,350 net rentable square feet. Bellomy & Co. represented the Iowa-based seller and procured the buyer, headquartered in Columbia, Mo.

The portfolio includes Afford It Storage, located at 775 SW 37th St. in Grimes, near the intersection of interstates 35 and 80 and Southeast Grimes Boulevard, approximately 15 miles from downtown Des Moines. Afford It Storage is a seven-building facility and comprises 280 climate- and non-climate-controlled units, ranging from 50 to 450 square feet. Additional characteristics include gated and drive-up access as well as security cameras. The facility offers expansion possibilities on 2.5 acres of land.

The second property in the portfolio is located at 16175 SE Laurel St. in Waukee, 5.6 miles from the Grimes facility and roughly 20 minutes from downtown Des Moines. Country Club Mini Storage consists of 170 climate- and non-climate-controlled units.

Bellomy & Co.’s brokerage team for this deal included Bill Bellomy, Michael Johnson and John Arnold.

Image courtesy of Bellomy & Co.