StorageMart Adds 2 Assets to Portfolio
Both facilities are scheduled to undergo capital improvements.
StorageMart has purchased two self storage facilities in Columbia, Mo., and Greenwood, Ind. Slated to undergo capital improvements, the properties add 79,675 square feet across 550 units to the firm’s portfolio.
The Columbia facility came online in 2017 on a 3.7-acre site. The 42,000-square-foot property comprises 312 units across seven buildings and features drive-up access, as well as parking spaces tailored for vehicle storage.
Located at 1500 Creekwood Parkway, the self storage property is less than 1 mile east of U.S. Route 63 and roughly 1 mile north of Interstate 70. In a 3-mile radius, there are nine storage facilities offering residents 5.50 square feet of rentable space per capita, Yardi Matrix data reveals.
Completed in 1993, the Greenwood property comprises 37,475 net rentable square feet across 238 units. Amenities include drive-up access, gated pin pad access and 24/7 video surveillance.
The facility occupies a 4.5-acre site at 994 S. State Road 135. The location is 4 miles from both Interstate 69 and U.S. Route 31, while downtown Indianapolis is 13 miles north. There are eight storage facilities within a 3-mile radius, providing residents with 4.72 square feet of rentable space per capita, according to the same data provider.
More than 580,000 square feet of rentable self storage space traded in Indianapolis throughout 2023 for an average price of nearly $113 per square foot, according to Yardi Matrix data. One such transaction involved StorageMart and its value-add acquisition of a 93,086-square-foot facility in the metro.
