A publicly traded company has acquired two South Florida self-storage facilities for $54 million.
Sovran Self Storage picked up properties in Fort Lauderdale and West Palm Beach, South Florida Business Journal reported. The company operates nearly 500 self-storage facilities through its Uncle Bob’s Self Storage brand. The Store Room, a company tied to Chicago investor Kent Haeger, is the seller.
The facilities are located at 747 Northeast Third Avenue in Fort Lauderdale and 1401 Mercer Avenue in West Palm Beach.
Attorney Tom Angelo, who represented the seller, said bids were received from six potential buyers for the facilities. [South Florida Business Journal] — Eric Kalis