A+ Storage sells part of A-rated space for $34M

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    a-plus-portfolio-photo-sep-9-2014-304xx602-401-19-0Nashville-based A+ Storage has sold almost half of its local portfolio for $33.6 million. A+ Storage, founded by Tommy Pierce, sold five of its 12 Class A properties to Kurt O’Brien and his national chain, Simply Self Storage. The sale did not involve A+ Storage’s headquarters and flagship location, which are in the Gulch. The sale did, however, involve the A+ Storage sites in Franklin, Hermitage, Gallatin, Clarksville and Hendersonville. In total, that’s 2,800 units covering almost 350,000 square feet of storage units. “The stars were lined up for this one,” Pierce said in a statement. “Interest rates remained low, the self-storage industry fared the recession well, and Nashville became one of the top 10 business and real estate markets in the country.” The sale was announced by brokerage firm Marcus & Millichap, which represented both parties.]]>

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