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Sign in Sign up for a FREE subscriptionCBRE pays $588m for 64-property self-storage portfolio
World Class Holdings, a multibillion-dollar holding company, has sold a 64-property self-storage portfolio across 10 states to CBRE and facility operator William Warren Group/StorQuest for $588 million.
The portfolio comprises more than 4.1 million rentable square feet in Texas, Ohio, Illinois, Colorado, Missouri, Mississippi, Tennessee, Indiana, New York and Nevada. The facilities were previously operated by Great Value Storage. The sale did not include any of World Class's facilities in California and any of the firm’s new self-storage developments and conversions nationally.
At nearly $600 million, the acquisition is among the largest-ever private transactions in the burgeoning self-storage sector, which has seen unprecedented growth since the onset of the pandemic.
