VanWest Partners has acquired four self-storage facilities for VanWest Storage Fund I with the acquisition of three properties in Collierville (Memphis), Tenn., and one property in Blue Island (Chicago), Ill. A price was not disclosed.
Green & Sons Storage, located in the Memphis suburb of Collierville, was built between 1998 and 1999 with an expansion completed in 2016. The facilities include three facilities with 876 climate-controlled and non-climate-controlled units with RV and boat parking totaling 106,208 rentable square feet. Midway Storage in the Chicago suburb of Blue Island was built in 1925, renovated in 2004, and includes 625 storage units totaling 55,098 rentable square feet. VanWest will rebrand the four facilities under its wholly owned ClearHome Self Storage management platform and implement its innovative systems of technology and property management operations to maximize net operating income.
With these acquisitions, the Fund will close having de
