Self storage REIT buys Boynton Beach building for $18M

Miami /
Jan.January 12, 2016 02:20 PM

A self storage warehouse along Federal Highway in Boynton Beach sold to a real estate investment trust, Palm Beach County records show. 

An affiliate of Strategic Storage Trust Inc. purchased the 103,392-square-foot building for $17.9 million. The property, at 3101 North Federal Highway, sits on two acres. It was developed in 2004 and last sold for $400,000 in 2002. 3602 NFHB LLC, managed by Thomas McCormack, sold the building.

Strategic Storage, based in Ladera Ranch, California, is the first self storage REIT in the public, non-traded marketplace, according to its website. The firm has properties in California, Alabama, Georgia, Nevada, North Carolina, as well as in Florida – in Fort Lauderdale, Davie and Weston.

In June, Signature Self Storage sold its only location, at 7960 Venture Center Way in Boynton Beach, for $10.5 million. Also last summer, Greystar purchased an apartment community nearby at 7132 Colony Club Drive. Greystar paid $35.5 million for the complex.


Related Articles

arrow_forward_ios
Elliott Mandelbaum with 7900 Venture Center Way in Boynton Beach and 600 Business Park Way in Royal Palm Beach (Linkedin, Google Maps)

Eagle Arc buys South Florida nursing facilities for $36M

Eagle Arc buys South Florida nursing facilities for $36M
Bill Morris of Southcoast, and a rendering of the project (Credit: RLC Architects)

Developers propose multifamily mixed-use project in Boynton Beach

Developers propose multifamily mixed-use project in Boynton Beach
1930 Northwest 23rd Street with (from left) Shane Neman, Richard Kilstock and David Aaron (Getty, Arkadia, Neman Ventures)

Arkadia buys cold storage warehouse in Allapattah for $5M

Arkadia buys cold storage warehouse in Allapattah for $5M
Jeff Greene and 1601 North Congress Avenue (Google Maps)

Jeff Greene buys hotel in Boynton Beach for $19M

Jeff Greene buys hotel in Boynton Beach for $19M
200 Northwest 79th Street and Todd Amsdell, president and CEO of Amsdell Companies (Credit: Google Maps)

Self-storage facility in Little River sells for $7M

Self-storage facility in Little River sells for $7M
6405 West Boynton Beach Boulevard rendering, Pebb Enterprises President and CEO Ian Weiner

Sprouts-anchored mixed-use project in Boynton Beach scores $27M loan

Sprouts-anchored mixed-use project in Boynton Beach scores $27M loan
Richard Kayne, Founder and Co-Chairman of Kayne Anderson Capital Advisors, and a rendering of the self storage facility (Credit: TAYLOR / THEUS HOLDINGS, INC.)

Kayne Anderson buys self-storage in West Palm for $15M

Kayne Anderson buys self-storage in West Palm for $15M
A rendering of Manley Storage Ventures facility at 7171 North Federal Highway

New self-storage, retail facility coming to Boca Raton

New self-storage, retail facility coming to Boca Raton
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...