Nashville-based A+ Storage has sold almost half of its local portfolio for $33.6 million. A+ Storage, founded by Tommy Pierce, sold five of its 12 Class A properties to Kurt O’Brien and his national chain, Simply Self Storage. The sale did not involve A+ Storage’s headquarters and flagship location, which are in the Gulch. The sale did, however, involve the A+ Storage sites in Franklin, Hermitage, Gallatin, Clarksville and Hendersonville. In total, that’s 2,800 units covering almost 350,000 square feet of storage units. “The stars were lined up for this one,” Pierce said in a statement. “Interest rates remained low, the self-storage industry fared the recession well, and Nashville became one of the top 10 business and real estate markets in the country.” The sale was announced by brokerage firm Marcus & Millichap, which represented both parties.]]>
A+ Storage sells part of A-rated space for $34M
More Content
Popular Posts
Recent Posts
Senate Bill 709 (SB709) has many in the...
In January, self-storage industry veteran...
In April 1984, the first non-stop commercial...
Raise your hand if you’ve ever made plans,...
Everyone knows it: Investing in real estate...
They say when one door closes, another one...
Like its name implies, Surprise, Ariz., a...
Self-storage has become as reliant on the...
