Marcus & Millichap arranged the sale of a 14-property Storage USA Portfolio spread across three states.
The portfolio sold for approximately $66.3 million.
The portfolio totals 9,469 units and 1.1 million square feet. It consists of 10 facilities in southern California, as well as three properties in Arizona and one in Nevada. Five of the southern California properties are located in San Bernardino, with another four in the Palm Springs area. Two of the Arizona properties are located in Phoenix, and the other is in Mesa. The Nevada property is a 413-unit facility located in Las Vegas.
Crown Ridge Storage LLC purchased the properties from an undisclosed seller.
Memphis, Tenn.-based Storage USA has more than 500 locations in 32 states and the District of Columbia. Storage USA, which was acquired by General Electric in May 2002, focuses on providing dependable service for both home and business storage. Its properties feature computer-controlled access gates and security systems. Storage USA also rents trucks and sells packing supplies.
Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.