Stor-All Storage, which operates three self-storage properties in Florida and Georgia, has acquired two vacant parcels in Wheat Ridge, Colo., on which it has applied to develop a four-story, 109,200-square-foot facility. Stor-All Youngfield Street LLC acquired the 1.79 acres for $550,500 last month, according to the source.
The self-storage project is under consideration by the city. The parcels were purchased from Raleva Properties.
The building site at 12700 W. 44th Ave. is on the southeast corner of 44th Avenue and Youngfield Street. There is 406 feet of frontage along Youngfield, with an access strip running westerly from Xenon Street, the source reported.
Founded in 1967 and based in Deerfield Beach, Fla., Stor-All draws it roots from a construction company founded by brothers Norman and Robert Anderson. Its national portfolio was sold to self-storage real estate investment trust Public Storage Inc. for $430 million in 2013. The 44-property portfolio included facilities in five states and encompassed 2.7 million square feet in more than 26,300 units.
Sources:
- Colorado Real Estate Journal: Proposed Self-Storage Site Sells for $7.08 Per Square Foot
