Spartan Acquires Arkansas Storage Portfolio
The facilities have been operating under the Extra Space Storage brand.
Spartan Investment Group has acquired three self storage properties in Northwest Arkansas totaling 1,890 units from a private seller. Amounting to 323,780 net rentable square feet, the facilities are in Bentonville, Rogers and Springdale. The new ownership is slated to invest more than $1 million in upgrades.
The self storage facilities in Benton, Rogers and Springdale, Ark. total 1,890 units. All images courtesy of Spartan Investment Group 
The facility in Springdale covers an 8-acre site. 
The self storage property in Bentonville is one of three available within 3 miles. 
Unit sizes range between 50 and 360 square feet at the Rogers facility. 
The property in Rogers came online in 2002.
Spartan’s current portfolio comprises some 30,000 units across 60 facilities and has more than $600 million worth of self storage assets under management. The company plans to purchase 25 facilities and develop 25 new projects this year, President & CIO of Spartan Investment Group Ryan Gibson revealed in a recent interview with Multi-Housing News.
All three facilities have been operating under the Extra Space Storage brand. The self storage properties are within 20 miles of each other, on Interstate 49. Over 14,000 residential units, as well as three Fortune 500 headquarters—including Walmart’s global headquarters—are in proximity to the three assets.
The Arkansas storage facilities
Completed in 1999, the facility in Bentonville encloses 269 units across 39,450 net rentable square feet. The property consists of six one-story buildings covering a 3-acre site. Unit sizes range from 25 to 100 square feet. The facility is one of three available within a 3-mile radius, offering residents 10.5 net rentable square feet per capita, according to Yardi Matrix information.
The Rogers asset came online in 2002 and comprises 845 units ranging in size between 50 and 360 square feet. The 158,630-square-foot property consists of 13 single-story buildings covering a 10-acre site. The facility is one of 13 within a 3-mile radius, offering residents 23.2 net rentable square feet per capita, the same data provider shows.
The property in Springdale dates back to 2001 and consists of 15 one-story building across an 8-acre site. The 776 units, with sizes between 50 and 300 square feet, total 125,700 net rentable square feet. There are 12 other self storage facilities within 3 miles of the asset, offering residents 16.8 net rentable square feet per capita.
