SnapBox Self Storage Buys Tampa-Area Facility – Multifamily Real Estate News
SnapBox Self Storage has acquired a 68,440-square-foot facility in Zephyrhills, Fla. According to Yardi Matrix data, North American Development Group sold the property for $10 million.
Investment Associate Ian Lindahl and Senior Vice President Adam Schlosser of Marcus & Millichap represented the seller and procured the buyer for the 523-unit property.
The two-story Class A facility was completed in 2020. Spanning 4 acres, across seven buildings, the property encompasses non-climate and climate-controlled units, ranging between 25 and 360 square feet. On-site amenities include 24-hour surveillance, gated access, parking and a covered unloading area.
Located at 38011 Pretty Pond Road, the property is roughly 30 miles Northeast of Tampa and has immediate access to US-301. The facility is one of the six self storage assets available within a 3-mile radius, offering residents 5.9 rentable square feet per capita. Data shows that Tampa currently has 61 self storage properties in various stages of development, set to add 3.3 million rentable square feet to the existing inventory.
SnapBox owns facilities in 10 states across the U.S., totaling roughly 2.5 million square feet, Yardi Matrix data shows. In July, the company acquired a 110,000-square-foot asset in North Miami, for $26 million. The Zephyrhills property is considered one of the top facilities that traded in Tampa since the beginning of the year, stated Lindahl in prepared remarks.
