Joseph D. Russell, Jr Of Public Storage Acquires Self Storage In Valrico For $6.9M

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.