The price is $30.5 million or $131.47 per rentable sf. Theproperties are at Allegheny and 3100 C St., in Germantown at 335 E.Price St., the intersection of Oregon Avenue and 23rd Street, and5134 Lancaster Ave. in Overbrook. All are former industrialbuildings that were converted to self storage within the past fiveto six years, according to Nick Malagisi, national director of selfstorage for Irvine, CA-based Sperry Van Ness and managing directorof Sperry Van Ness/Storage Realty in Williamsville, NY.

Malagisi and Jeffrey Supnick of Mount Laurel, NJ-based SupnickReal Estate represented the buyer and seller in the transaction. OBoperates the Simply Self Storage brand with an aggregate of morethan 10.8 million sf of storage space in more than 180 self storagefacilities in 18 states and Puerto Rico. An OB spokeswoman tellsGlobeSt.com it may expand two of the Philadelphia properties in thefuture, but declined to disclose the expansion capacity.

"The acquisition gives OB "a foothold in the nation's fourthlargest market on the East Coast," Malagisi says. The portfolio wasapproximately 68% occupied at the close of the sale, "but three ofthe properties are still in rent-up," he says. "They aremulti-floor buildings, and floors were converted in phases. Theconversion of industrial buildings to self storage is common incities," he adds.