StorageMart Expands Kansas City Portfolio
The two assets comprise 796 units totaling more than 110,000 rentable square feet.
StorageMart has expanded its portfolio with the acquisition of two Greater Kansas City self storage properties totaling 112,266 rentable square feet. A private individual sold the 796-unit portfolio, Yardi Matrix data shows.
According to the same data provider, the properties previously traded in 2021 for a combined $7.4 million, and were subject to loans totaling $6.5 million, provided by Labette Bank.
Originally built in 1951 and completed in 1990, the Lee’s Summit, Mo., property comprises 64,015 square feet across 11 buildings and features climate and non-climate-controlled units, ranging from 25 to 300 square feet. The facility offers video surveillance, gated and drive-up access and an on-site manager.
Located at 1920 N.E. Rice Road, the property is 20 miles from downtown Kansas City and has access to Interstate 470. The facility is one of the six available within a 3-mile radius, offering residents 10.6 rentable square feet of self storage space per capita.
The 3.8-acre Kansas City, Mo., storage facility came online in 1989. The property comprises 48,251 square feet and features non-climate-controlled units, ranging from 25 to 300 square feet. On-site amenities include video surveillance, parking for RV and boat, gated and drive-up access.
Located at 4121 N.E. Davidson Road, the property is 6 miles from downtown Kansas City, has access to interstates 29 and 35 and is one of the five available within a 3-mile radius, offering residents 7.2 rentable square feet of self storage space per capita.
StorageMart’s national presence
According to Yardi Matrix data, StorageMart has a footprint of approximately 3.8 million square feet in the Kansas City market. The company has a presence in several states across the U.S., with a portfolio that encompasses nearly 16 million square feet. Earlier this spring, StorageMart acquired a 93,086-rentable-square-foot property in a suburb of Indianapolis.