“This Class-A facility is situated in a prime location of high growth,” said Jon S. England, CCIM, SEC of Lee & Associates Kansas City, who represented the seller, Roc KS Properties, LLC. “Self storage continues to be a great asset class for investment and this property will serve its new ownership well with its high occupancy and existing customer base.”
According to England, in terms of square footage, this is the one of the largest single asset self storage facility sales in the Kansas City area for the past three years. The buyer plans to improve occupancy and manage expenses.
Built in 2000, the 500-unit property is managed by Extra Space and currently 83 percent leased. The buyer, a local investor, was not represented.
About Lee & Associates
Celebrating more than 33 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 46 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.