StorageMart Expands Minnesota Presence With $25.2M Acquisition Of Crystal And North St. Paul Self Storage Properties

Missouri's StorageMart has purchased two Extra Space Storage properties in Crystal and North St. Paul, Minnesota, for $25.2 million. The properties, located at 2315 Anchor Drive and 5702 West Broadway Avenue, consist of a total of 1,564 units. With an average price per unit of $16,113 and a total square footage of 159,282, the properties were sold at an average price per square foot of $158. The transaction expands StorageMart's presence in the state to five locations.

Summary of transaction details

• Property Type: Self Storage
• Transaction Amount: $25,200,000
• Units: 1,564
• Price Per Unit: $16,113
• Square Footage: 159,282
• Price Per Square Foot: $158
• Market: North Saint Paul & Crystal, MN

Alex Burnam of StorageMart represented the buyer in the transaction, while Phil French of Adams French Property represented the seller. The facilities will undergo renovations to align with StorageMart's branding, following the acquisition.