Ohio self-storage buildings change hands

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A private investor recently sold a seven-property portfolio of self-storage facilities in the Columbus, Ohio, metro area for nearly $18.9 million. The properties bear the Storage Inns of America brand and comprise 418,020 square feet. A Mishawaka, Ind.-based investment group purchased the portfolio from an unidentified investor at a price per square foot of $45. The Storage Inns of America portfolio includes: a 608-unit facility at 1330 Georgesville Road, Columbus; a 576-unit facility at 7200 Tussing Road, Reynoldsburg; a 570-unit facility at 9984 South Old State Road, Lewis Center; a 520-unit facility at 5199 Westerville Road, Columbus; a 460-unit facility at 5301 East Tamarack Circle, Columbus; a 426-unit facility at 580 East Dublin-Granville Road, Worthington; a 342-unit facility at 1585 Lexington Ave., Mansfield Each property is of similar construction: a single-level storage facility with standard drive-up, interior climate control, steel or brick exterior, meta...