The property was sold for $8.5 million
July 16, 2017: Founded in 1982 by brothers Stan and Ron Shader, Personal Mini Storage has recently purchased C&M Mini Warehouse in Saint Cloud, Flarida. It is the company's 2nd self storage facility in the city and 41st overall.
Constructed in the year 1997 and expanded in 2004, the facility has 12 single-story buildings totaling over 80,000 square feet of rentable storage space in 747 climate-controlled and drive-up units. It also includes a retail office and a 1,500-square-foot apartment. The site offers outside vehicle parking and U-Haul truck rentals.
“We're thrilled and proud to add Personal Mini Storage Canoe Creek to our family,” said president Marc Smith. “This is our second project in Saint Cloud, Fla., and our seventh in Osceola County. Given our deep Central Florida roots, this is a perfect addition to our growing portfolio. We expect to impress our tenant base with new features, many site upgrades and new conveniences.”
The buyer and the seller, a family trust conducting a 1031 Exchange, were represented in the transaction by Jacob Becher and Christopher Secreto, investment specialists with Marcus & Millichap. They were assisted by Kirk Felici, regional manager of the company’s Miami office.
Personal Mini also recently expanded one of its facilities in Davenport, Fla. The property at 41040 Highway 27 is now the largest in the company’s portfolio, according to a press release.
In March, the company entered an agreement to become the eighth participating regional operator for National Storage Affiliates Trust (NSAT), a Maryland real estate investment trust (REIT) specializing in self-storage.
Based in Greenwood, Colo., NSAT is a self-administered and -managed REIT focused on the acquisition, operation and ownership of self-storage properties within the top 100 U.S. Metropolitan Statistical Areas throughout the United States.