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Four Self-Storage Properties Sell for $20M Plus

HOUSTON-In one of the largest self-storage transactions in the area, Dallas-based Storage Choice purchases a 334,000-sf, 85%-leased portfolio from developer and owner, 24-Hour Self Storage.

By Jennifer D. Duell | Updated on October 22, 2004

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HOUSTON-Storage Choice has expanded its portfolio of properties in the Bayou City from two to six, picking up 334,000 sf for more than $20 million.

“This is one of the largest, if not the largest, self-storage transaction this year,” says Aaron Swerdlin, manager of CB Richard Ellis Inc.’s Self Storage Advisory Group who represented the Dallas-based Storage Choice in the deal. The properties, which were sold by local developer and owner, 24-Hour Self Storage, are scattered across the metropolitan area with one property in Houston and one each in Stafford, Dickinson and Webster. “I know at least two other investors made runs at the portfolio,” Swerdlin confides.

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