Memphis, Tennessee-based Premier Storage Investors has actually gotten West Coast Self-Storage, a six-story self-storage facility situated at 12399 Northup Way for nearly $51 million.
The seller is Commune Capital, a property investment firm headquartered in Westlake Village, California, reported the Puget Sound Organization Journal. The 140,000-square-foot facility consists of roughly 1,000 storage units and opened in 2016.
The project is situated on a 1.2-acre site off state Path 520. Commune Capital purchased the undeveloped property in 2014 for $2.2 million and constructed the self-storage facility at an expense of roughly $9.3 million.
With the acquisition, Premier Storage Investors runs seven places throughout Washington and the Pacific Northwest. The company also recently finished a 101,500-square-foot storage center at 1115 NW 46th St. in Seattle’s Ballard community and the company is currently establishing a 95,000-square-foot storage task in Auburn. Premier Storage Investors has roughly 6 million square feet of storage space throughout 15 states.
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