Platinum Storage Group has actually obtained a 650-unit storage center in Knoxville,Tenn MV Investment offered the just recently finished property, which runs under the Storelocal Storage brand name.
The JLL Capital Markets group representing the seller consisted of Managing Directors Steve Mellon and Brian Somoza, along with Directors Matthew Wheeler and Adam Rossien.
The 90,171-square-foot home came online in October 2022 and inhabits 1.9 acres. The three-story structure provides climate-controlled systems varying from 25 to 300 square feet. On- website facilities consist of 24-hour video monitoring, specific system locks, keypad entry, carts and dollies, red wine storage and on-site management.
Platinum Storage Group owns, establishes and handles self storage centers in numerous MSAs throughout the nation, with a number of properties in Tennessee, in addition to Arizona, California, Texas, Massachusetts, Washington, Minnesota and Nevada.
Storelocal Storage– Knoxville lies at 145 Hillview Ave., 5.6 miles from downtown Knoxville and near the crossway of Rutledge Pike and Interstate 40. According to Yardi Matrix information, there are presently 19 residential or commercial properties in numerous phases of advancement in the Knoxville market, set to include around 1 million square feet to the existing stock. As of September, the national development pipeline broadened by 20 basis points month-over-month, representing 10.6 percent of the general stock.
