Sovran Acquisition Limited Partnership, an entity of real estate investment trust Sovran Self Storage Inc., purchased Alsip Self Storage in Alsip, Ill. The property at 5253 W. 111th St. will be rebranded as Uncle Bob’s Self Storage. It encompasses 96,725 square feet of storage space.
The property includes 55 climate-controlled units and a retail center that sells packing and moving supplies. Security features include computerized gate entry, perimeter fencing, security lighting and video cameras.
“This property is a solid addition to our Chicago portfolio. Our customers can expect significant upgrades to the property’s aesthetics and amenities consistent with the Uncle Bob’s brand,” said Paul Powell, Sovran’s chief investment officer.
Sean M. Delaney of Marcus & Millichap Real Estate Investment Services Inc. represented both the buyer and the seller, an unnamed partnership, in the transaction. Delaney is vice president of investments, director of the National Self Storage Group and part of The Mele Group at the firm’s Chicago Oak Brook office.
Marcus and Millichap specializes in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the company has more than 1,300 investment professionals in offices throughout the United States and Canada.
Buffalo, N.Y.-based Sovran operates more than 500 self-storage facilities in 25 states under the Uncle Bob’s Self Storage brand.
