Memphis, TN-based Storage USA acquired the following U-Stor-It facilities: a 507-unit, 56,944-sf site at 2100 W. Fullerton Ave. in Chicago; a 670-unit, 112,714-sf facility at 1255 S. Wabash Ave., Chicago; a 563-unit, 81,000-sf property at 707 W. Harrison St., Chicago; an 871-unit, 111,772-sf facility at 4400 W. Addison St., Chicago; and a 657-unit, 66,538-sf property at 7540 N. McCormick Blvd., Skokie, a suburb north of Chicago. Storage USA is now reportedly the second-largest self-storage REIT in the country. The company owns, manages or franchises approximately 495 facilities containing 32.8 million sf in 31 states and Washington, D.C.

Public Storage, based in Glendale, CA, acquired an 817-unit, 68,400-sf property at 6460 N. Lincoln Ave., Lincolnwood, a suburb also just north of Chicago. Public Storage Inc., which has assets of about $4 billion, acquires, develops, owns and operates more than 1,400 facilities throughout the United States and Canada. The firm is the largest owner and operator of self-storage units in the nation, with locations in 37 states representing over 80 million sf of rentable space. A local private investor acquired a 367-unit, 46,763-sf facility at 3000 Charles St., Rockford, IL.

Within the past three years, Elgin, IL-based U-Stor-It has developed and sold 21 self-storage facilities totaling over one million sf.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.