Tampa-Area Self Storage Facility Changes Hands
The two-building property features 429 units.
Weeki Wachee Storage Center, a 42,600 rentable-square-foot self storage facility in Brooksville, Fla., has changed hands. A private owner sold the asset.
Vice President Kyle Baptist and Managing Director Scott Schoettlin with Sky View Advisors brokered the transaction. The facility currently operates under the Extra Space Storage brand.
The property came online in 2023. According to Yardi Matrix data, the Class A facility was subject to a $4.1 million construction loan in 2021, originated by Live Oak Banking Co. and has a maturity date set for 2047.
The two-building facility sits on 3.7 acres and features 429 climate-controlled units, ranging between 25 and 100 square feet. On-site amenities include video surveillance, gated and drive-up access and contactless renting. Located at 10198 Atlanta Ave., next to U.S. Route 19, the property is 55 miles from Tampa. The facility offers 3.9 rentable square feet of storage space per capita within a 5-mile radius.
Over a 12-month period ending in November, 17 self storage properties traded in the Tampa-St. Petersburg-Clearwater market, totaling approximately 1.1 million square feet. Five of those facilities were Class A assets. The market also has 23 properties under construction, with 75 more in the planning and permitting stages, set to add some 5.6 million square feet to the existing inventory.
Earlier this year, Value Store It Self Storage opened two storage facilities, in Clearwater, Fla., in the Tampa area. The company acquired the assets from Lockhart Management Group in December 2022 for a combined $24.6 million.