Orlando self-storage firm expands into Polk County

BUYER: Personal Mini Storage S. DVNPRT LLC (managers: Marc and Laurie Smith and Ronald and Stanley Shader), Lockhart
SELLER: Mitchell Kalogridis Ltd.
PROPERTY: 41040 U.S. Highway 27, Davenport
PRICE: $3 million
LAW FIRM ON DEED: Sharit Bunn & Chilton PA, Winter Haven

PLANS, DESCRIPTION:
Personal Mini Storage purchased Lighthouse Self Storage in Davenport for $3 million.

The price equated to $29 per net rentable square foot.

The self-storage facility features 102,756 square feet of rentable space, covered outdoor parking and office suites. Built in 1998, it has 214 climate-controlled and 440 non-climate controlled storage units along with 228 rentable parking spaces and five office spaces.

Jay Crotty and Thomas Doyle of BayView Advisors handled the transaction.

“These buyers understood the market,” Crotty says. “This is in the path of growth. This is the most active market [for self storage] we've seen as far as transactions. The performance of this asset class is incredibly strong.”