Spartan Completes Oregon Storage Facility
The 353-unit property is located in Sandy, Ore.
Opening of FreeUp Storage Sandy. Image courtesy of Spartan Investment Group
Spartan Investment Group has opened FreeUp Storage Sandy, a 51,000-square-foot, 353-unit facility in Sandy, Ore. According to Yardi Matrix data, the development was subject to an $8.8 million construction loan, originated by Gesa Credit Union.
This is the company’s first ground-up development in Oregon and second ground-up facility to date. The property is managed under Spartan’s own brand, FreeUp Storage and marks its 51st addition to the portfolio of self storage units owned by Spartan across ten states.
The facility is part of a 5.4-acre site and comprises five one-story buildings, with units ranging from 25 to 200 square feet. On-site amenities include 24-hour surveillance, gated access, drive-up storage and climate-controlled units, among others.
Located at 16555 Champion Way, the property is approximately 26 miles from Portland and next to Highway 26. The facility is one of the two available within a 3-mile radius, offering residents 3.7 rentable square feet per capita. Currently, there are 20 properties in various stages of development in the market, set to add 1.3 million rentable square feet to the existing inventory, Yardi Matrix data shows.
Seven self storage properties traded over the past year in Portland. In spring, Strategic Storage acquired a 56,500-square-foot facility from Northwest Self Storage.
