Real Estate & Construction  February 5, 2016

California firm pays $55.6M for group of Boulder self-storage facilities

BOULDER — The self-storage market — itself a sizzling niche of the Front Range’s real estate boom — saw another major sale this week, with Roseville, Calif.-based LifeStorage scooping up five facilities in Boulder for a total of $55.6 million.

Officials for LifeStorage couldn’t be reached Friday.

The company bought the storage units from an affiliate of Heitman Capital Management in Chicago. All had been operating under the SecurCare Self Storage brands, though LifeStorage has registered trade names with the Colorado Secretary of State’s office that indicate the branding will be changed to LifeStorage.

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The five properties include the storage facility at 6405 Odell Place in Gunbarrel, one at 6338 Arapahoe Ave., another at 5815 Arapahoe, a fourth at 4667 N. Broadway and a fifth at 4545 N. Broadway — the last of which is slated for extensive flood repairs, according to permits filed with the city.

SecurCare Self Storage also operates facilities in Broomfield and Fort Collins, according to that company’s website. The Boulder purchases are the first in the state for LifeStorage.

The sale adds to a booming self-storage market that has seen several facilities along the Front Range sell for millions of dollars each and many more new ones popping up. That includes a recently announced 38,000-square-foot facility in Loveland that will replace a former propane business and is slated to be open by fall.

BOULDER — The self-storage market — itself a sizzling niche of the Front Range’s real estate boom — saw another major sale this week, with Roseville, Calif.-based LifeStorage scooping up five facilities in Boulder for a total of $55.6 million.

Officials for LifeStorage couldn’t be reached Friday.

The company bought the storage units from an affiliate of Heitman Capital Management in Chicago. All had been operating under the SecurCare Self Storage brands, though LifeStorage has registered trade names with the Colorado Secretary of State’s office that indicate the branding will be changed to LifeStorage.

The five properties include the storage facility at 6405…

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