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April 22, 2012

Firm buys local self-storage units

Transcript Staff The Norman Transcript

NORMAN — The $12,950,000 purchase of four Cleveland County self-storage unit complexes totaling more than 263,000 square feet of space closed this past week.

SecurCare Self Storage, a privately held company based in Colorado, purchased the A+ Mini Storage properties at 2430 12th Avenue NE (387 units), 1001 SW 19th Street in Moore (598 units), 4688 W. Main Street (421 units) and 2002 Research Park Boulevard (311 units).

The transaction also included leases for two cell towers. The sale was brokered by Domain Commercial’s Mica Alcorn and Charles Nicholson. Seller was Sassan K. Moghadam of Norman.

“The aesthetics, quality construction and strong economics created a very competitive environment and allowed us to show the portfolio and our market environment in an excellent light,” said Nicholson. “It was gratifying to see several well capitalized firms traveling to Oklahoma to see a unique product offering, with some of them considering investing in Oklahoma real estate for the first time.”

The 1,717 units were built by Precision Builders and were constructed and opened within the past ten years. All had onsite managers.

SecurCare, founded in 1988, has also purchased self storage units in the greater metropolitan Oklahoma City area. It has 140 storage facilities in 11 states.

The transaction was facilitated through First American Title Insurance Co. in Denver.

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