National Storage Affiliates has acquired Indian River Self Storage, an 84,000-net-rentable-square-foot self storage facility in Edgewater, Fla. A private investor sold the property for $6.3 million, according to Yardi Matrix data. This is the first time the property changed hands.
Located on 10 acres at 3515 S. Ridgewood Ave., the property encompasses eight single-story buildings completed in three phases between 2003 and 2016. The facility features both climate- and non-climate-controlled units ranging from 25 to 300 square feet. The property has an on-site manager, drive-up access, security cameras, truck rentals and moving supplies. Indian River Self Storage is 4 miles from downtown Edgewater and 6 miles from Interstate 95. There are at least four other self storage facilities within 4 miles of the property.
Last year, National Storage Affiliates purchased a nine-property portfolio encompassing a total of 4,835 units across nine cities in Texas. The assets ranged in size from 29,768 to 155,300 square feet. JLL assisted the seller, Locktite Self Storage.