The Real Deal Chicago

Harrison Street buys Northbrook storage facility for $23M

The investment firm bought the 1.6M sf facility at 990 Skokie Boulevard from The Lock Up
By Alex Nitkin |
Research by Haru Coryne
November 07, 2018 09:00AM

Harrison Street Real Estate Capital CEO Christopher Merrill and The Lock Up in Northbrook (Credit: Kinship Capital and The Lockup)

Harrison Street Real Estate Capital paid $23 million for a 1.6 million-square-foot self-storage facility in north-suburban Northbrook.

The Chicago-based investment manager bought the facility at 990 Skokie Boulevard on Oct. 25 from The Lock Up, the nationwide self-storage chain that manages the facility,according to Cook County property records.

The Lock Up manages dozens of locations across eight states, including 19 in Illinois and two in Northbrook.

Earlier this year, Colliers International paid $450 million to acquire a 75 percent stake in Harrison Street Real Estate Capital.

A month later, the firm bought an eight-building portfolio of suburban medical offices for $240 million.

Harrison Street specializes in the education, healthcare and storage sectors, and had some $14.6 billion in assets under management as of the spring.

A representative of Harrison Street declined comment Tuesday.