Metro Storage Pays $13M for Nashville-Area Facility
The firm has expanded its portfolio with the acquisition of a storage property located in Franklin, Tenn. The asset includes 523 climate- and 39 non-climate-controlled units.
108 Werthan Circle
Metro Storage LLC has acquired a 69,541-rentable-square-foot facility in Franklin, Tenn., for $12.8 million, according to Williamson county public records. The documents also revealed that the sale was subject to a $6.7 million loan, provided by Mutual of Omaha Bank. The loan is set to mature in 2024.
Situated at 108 Werthan Circle, the facility is near freeways 31 and 431, as well as to Interstate 65, approximately 24 miles from downtown Nashville. The storage is located near residential areas, there are more than 13,000 rental units completed or planned within a 5-mile radius.
Constructed in 2017, the storage occupies 3.3 acres and comprises 523 climate-controlled units and two separate buildings with 39 drive-up, non-climate-controlled units. Other characteristics of the facility include covered loading bays, elevators, security cameras/monitors, keypad access controls and a leasing office. Besides these, there are U-Haul rental trucks available for moving.
In May, the firm opened a 568-unit storage facility near Atlanta, which had previously served as a retail store.
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