Colorado-based Red Dot Storage has purchased the five-property DeKalb County Self Storage portfolio in Illinois. The facilities in Cortland, DeKalb, Malta and Sycamore have a combined total of 250,000 rentable square feet of storage space in approximately 1,600 units.
Red Dot plans to add upgrades to the properties including enhanced security and access-control features as well as a 24-hour automated rental center, according to a company press release.
"These properties are a fantastic addition to our existing portfolio," said Seth Bent, president. "We look forward to making improvements to each of the locations, and believe new and existing customers will appreciate the ease of renting with Red Dot Storage."
Red Dot Storage was recently identified as one of eight independent self-storage operators expected to grow significantly in 2015 by SpareFoot, an online marketplace for self-storage consumers. The company’s goal is to purchase more than 50 facilities in the north-central states this year, according to “The SpareFoot Storage Beat.” Red Dot entered 2014 with four facilities in its portfolio and finished the year with 14. Expansion will come exclusively through acquisitions, according to Bent.
The Red Dot brand is operated by Boulder, Colo.-based Sparkplug Capital LLC. Launched in 2013, it owns and operates 20 storage properties in Illinois and Wisconsin.
