Charleston, S.C. (Jan. 2, 2019)—Miller-Valentine Group and Coastal Storage Group have sold three climate-controlled self-storage facilities in Charleston, S.C., to Public Storage, the largest provider of self-storage services in the U.S.
The purchase encompasses approximately 300,000 sq. ft. and more than 2,000 self-storage units. All three Class A assets were developed on sites that were strategically selected for their highly visible locations in densely populated, high-growth areas. The facilities have been in operation since 2018.
“We strive to deliver the best return for our stakeholders by identifying projects with solid fundamentals that we can maximize through our streamlined approach to development and construction,” said Aaron Rowley, a partner in the project. “The purchase of these assets by the country’s most recognized brand in self-storage facilities reinforces our position in the market.”
“We take tremendous pride in designing, developing and building high-quality, very efficient facilities in strategic locations,” said Steve Koewler, President, Southeast, Miller-Valentine Group. “This benefits investors as well as the customers these facilities serve.”
Miller-Valentine and Coastal Storage Group own additional facilities in Myrtle Beach, S.C., and Knoxville, Tenn., and are partnering on six additional facilities in Florida, Kentucky, Ohio and Tennessee in 2020.