Patriot Self Storage Talon Bay

November 29, 2016 Comments Off on Passco, Perdew Sell 1,667-Unit Self-Storage Portfolio Views: 245 Florida, National News, Southeast

Passco, Perdew Sell 1,667-Unit Self-Storage Portfolio

Passco Cos. LLC and joint venture partner Perdew Investment Group sold the Patriot Self Storage portfolio for $19 million to separate buyers. The portfolio consists of two Class A self-storage facilities, totaling 1,667 units in the North Port submarket of the Sarasota-Bradenton MSA.

The partners developed the facilities – Patriot Self Storage of Talon Bay and Patriot Self Storage of Bobcat Trail – in 2008. Southern Self Storage acquired the Bobcat Trail facility at 2245 Bobcat Village Center Rd. Life Storage bought the other facility, located at 6029 Talon Bay Dr.

“There was a specific need for this product type in the Sarasota-Bradenton MSA, and we recognized the value potential of developing these assets early on,” said Passco’s Scott Allen. “Demand for self-storage throughout the area has continued to outpace supply. This consistent lack of available supply has driven up self-storage property values, which made this the perfect time to sell this portfolio.”

Connect with Passco’s Allen

For comments, questions or concerns, please contact Amy Sorter

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , , ,

Comments are closed.