US Storage Centers Inc., which operates 85 self-storage facilities in 12 states, has acquired Hickory Hill Self Storage in Memphis, Tenn., for $3.4 million. The seller was Hickory Hill Self Storage LLC, according to a March 9 warranty deed. The Shelby County Assessor of Property appraised the property at $1.9 million in 2014, according to the source.
The property at 3455 Hickory Hill Road encompasses 89,370 square feet of storage space on 7 acres. It’s located between Knight Arnold Road and Winchester Road. Facility features include a large management office with a retail center, computerized gate access, climate control, video cameras, perimeter fencing and security lighting. Customer amenities include drive-up access and vehicle parking.
The deal was brokered by Anne Williams, a senior associate in the Memphis, Tenn., office of Marcus & Millichap Real Estate Investment Services Inc. and an associate director of the company’s National Self Storage Group, who represented the buyer and seller in the transaction.
Irvine, Calif.-based US Storage Centers is affiliated with Westport Memphis Self Storage LLC and Westport Properties, a full-service real estate company specializing in self-storage facilities. The US Storage Centers portfolio of owned and managed properties comprises approximately 5.5 million square feet in more than 50,000 storage units.
Sources:
- Daily News: California Group Buys Memphis Storage Business
