Updated Nov 14, 2025
Joseph D. Russell, Jr Of Public Storage Acquires Self Storage In Valrico For $6.9M
2504 State Highway 60
$6,900,000
$86/SF
Building Size
80,000 SF
Asset Type
Self Storage
Closing
Oct 27, 2025
About this deal
AI
The self-storage property involved in the transaction is located at 2504 East State Highway 60 in Valrico. The asset spans 80,000 square feet and was sold for $6,900,000, equivalent to a price per square foot of $86.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $6,900,000
- Address: 2504 East State Highway 60
- Market: Valrico
- Square Footage: 80,000
- Price per Square Foot: $86
- Buyer: Joseph D. Russell, Jr - Public Storage
- Seller: Jason Fox - WP Carey Inc
The acquisition by Public Storage represents an expansion in their operations within the Tampa Bay market. The deal was made with W.P. Carey-managed Valrico Storage 18 (FL) LLC, reflecting ongoing trends among REITs in acquiring storage assets driven by population growth in regions east of Tampa.
On the Map
$6,900,000
$86/SF
Self Storage
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Valrico Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.30%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93