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21

Life Storage Picks Up 3 Atlanta Self-Storage Facilities

By Tony Seruga

The Space Shop Self Storage sold by Stein Investment includes a redevelopment in Cumming, Ga., and creative infill in the Old Fourth Ward District in Atlanta.

Stein Investment Group, a private real estate investment firm, has sold three of its Space Shop Self Storage properties in metro Atlanta to Life Storage LP, on behalf of one of its joint venture partners. The assets include: Space Shop East Cobb in Marietta, Ga.; Space Shop Old Fourth Ward in Atlanta and Space Shop Cumming in Cumming, Ga.

Life Storage, a Buffalo, N.Y.-based REIT is one of the largest owners and operators of self-storage facilities in the United States with about 700 properties in 29 states. Formerly known as Uncle Bob’s Self Storage, Life Storage has spent the past year rebranding. In addition to the Space Shop transaction, the REIT stated in its second-quarter 2017 earnings report that it had acquired through joint ventures 18 properties in Phoenix, Las Vegas, Los Angeles and Nashville. During Q2, it also entered into agreements to manage 17 additional stores that will come under the Life Storage banner at various points throughout 2017…

Life Storage Picks Up 3 Atlanta Self-Storage Facilities

Categories : Commercial Real Estate

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