Missouri Self Storage Facility Trades
Midwest Storage Group acquired the 529-unit property.
Combs Mini Storage
Midwest Storage Group LLC has acquired Combs Mini Storage, a 69,425-square-foot facility in Festus, Mo. The seller of the 529-unit property was a private individual, Yardi Matrix data indicates.
According to Jefferson County records, the new owner received an acquisition loan of $5.5 million originated by Citizens Bank, with a 2027 maturity date.
First Vice President Anne Williams and Senior Associate Marla Čolić of Marcus & Millichap represented the seller, as well as the buyer which the brokerage firm also secured. Regional Manager Dave Saverin assisted in closing the transaction.
Combs Mini Storage was completed in 2000 and encompasses three buildings across 4.6 acres. The facility offers 506 non-climate-controlled units, ranging from 50 to 500 square feet and 23 parking places. On-site amenities include 24-hour video surveillance, individual keypad access, perimeter security fence, a management office.
The property is located at 2100 U.S. Highway 67, 39 miles from Saint Louis and has access to Interstate 55. The facility is one of the five available within a 3-mile radius, offering residents 13.4 rentable square feet per capita. According to Yardi Matrix data, 25 properties sold in the Saint Louis storage market year-to-date, totaling almost 2 million square feet.
The same data provider shows that currently, there are 19 properties in various stages of development in Saint Louis, set to add roughly 1 million square feet to the existing inventory. As of September, the national pipeline accounted for 10.6 percent of the overall stock.
