Iron Guard Storage, which operates 21 self-storage facilities in nine states, has acquired A Willis Storage Center in Newburgh, Ind., its second facility in the state. The property at 6998 Loehr Road is at the intersection of Highway 66 and Outer Lincoln Avenue, near other retail establishments. It comprises 74,562 square feet in 560 units and parking spaces.
The buyer and undisclosed seller were represented in the transaction by Sean M. Delaney, Jeffrey L. Herrmann and Michael A. Mele, investment specialists for Marcus & Millichap (M&M).
The property was previously operated by Storagekeep Self Storage, which has another facility in Evansville, Ind.
Iron Guard operates facilities in Alabama, Arkansas, Georgia, Indiana, Nevada, North Carolina, Texas, Virginia and Washington. In addition to traditional storage, it offers vehicle storage.
Founded in 1971, M&M is a commercial-property investment firm with more than 1,500 investment professionals in offices throughout Canada and the United States.
Sources:
REBusiness Online, Marcus & Millichap Brokers Sale of 560-Unit Self-Storage Facility in Newburgh, Indiana
Iron Guard, Website
A Willis Storage Center, Website
Storagekeep, Website
