Newspaper article Sarasota Herald Tribune

Storage Chain Buys in Manatee | National Storage Affiliates Pays $17.8 Million for 2 Self-Storage Businesses

Newspaper article Sarasota Herald Tribune

Storage Chain Buys in Manatee | National Storage Affiliates Pays $17.8 Million for 2 Self-Storage Businesses

Article excerpt

COMMERCIAL REAL ESTATE

BRADENTON -- One of the nation's largest operators of self- storage facilities spent $17.8 million here last month to acquire two properties.

National Storage Affiliates, a real estate investment trust, paid $10.2 million for the iStorage at 6403 State Road 64 E.

One week later, it bought Lakewood Storage, 2709 Lorraine Road, for $7.6 million.

NSA has been expanding throughout the area. In February, the Greenwood Village, Colorado-based REIT took over Sarasota's Hide- Away Storage Services, whose 14 properties along the West Coast became a participating regional operator in a deal valued at $115 million.

NSA says it operates 418 self-storage facilities in 23 states, ranking it the sixth-largest owner/operator in the country. Thirty- seven of its properties are in Florida. …

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