Self-storage real estate investment trust (REIT) Extra Space Storage Inc. recently purchased a storage building and 3.7 acres of land in Bradenton, Fla., for $5.1 million. The company already occupied the 49,850-square-foot building at 1930 Cortez Road W., according to the source.
The REIT acquired the property from Eric D. Howell, a principal with Baldwin-Howell Properties LLC, who purchased the property in 2001 for $1.33 million. He is an active investor in Florida commercial and residential real estate, according to the source.
Extra Space operates one other location in Bradenton and a total of 111 self-storage facilities in Florida. In all, the Salt Lake City-based company owns or operates 1,081 self-storage properties in 35 states; Washington, D.C.; and Puerto Rico. The company’s properties comprise approximately 720,000 units and 80 million square feet of rentable space.
Sources:
- Bradenton Herald: Storage Unit Giant Buys Cortez Facility
