World Class Capital Group LLC (WCCG), which operates the Great Value Storage brand, has acquired a pair of self-storage facilities in the Denver metropolitan market for a combined $9.9 million from Business Property Trust LLC. The Best Bargain Storage properties together comprise 102,790 square feet in 724 units. Nate Paul, president and CEO of WCCG, purchased the assets through affiliate company GVS Colorado Holdings I LLC, according to the source.
The facility at 443 Laredo St. in Aurora, Colo., comprises 42,650 square feet in 323 units. Constructed in 1984, it sold for $4.9 million. The facility at 7273 Kearney St. in Commerce City, Colo., comprises 60,140 square feet in 401 units and was acquired for $5 million. The combined land size of both properties is 7.15 acres.
The buyer secured $8.18 million in financing from Irving, Texas-based C-III Commercial Mortgage LLC.
WCCG is a national real estate investment firm focused on acquiring, developing and managing real estate. Its portfolio includes investments in industrial, land, multi-family, office, retail and self-storage properties. The company is headquartered in Austin, Texas, with a significant presence in New York City.
Great Value Storage, a privately owned self-storage company, operates 65 self-storage facilities in Colorado, Illinois, Indiana, Mississippi, Missouri, Nevada, New York, Ohio, Tennessee and Texas.
Sources:
- Colorado Real Estate Journal: Austin Investor Buys 724 Ministorage Units in Denver Area for $9.6M
