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Passco, Perdew Sell 1,667-Unit Self-Storage Portfolio

Passco Cos. LLC and joint venture partner Perdew Investment Group sold the Patriot Self Storage portfolio for $19 million to separate buyers. The portfolio consists of two Class A self-storage facilities, totaling 1,667 units in the North Port submarket of the Sarasota-Bradenton MSA.

The partners developed the facilities – Patriot Self Storage of Talon Bay and Patriot Self Storage of Bobcat Trail – in 2008. Southern Self Storage acquired the Bobcat Trail facility at 2245 Bobcat Village Center Rd. Life Storage bought the other facility, located at 6029 Talon Bay Dr.

“There was a specific need for this product type in the Sarasota-Bradenton MSA, and we recognized the value potential of developing these assets early on,” said Passco’s Scott Allen. “Demand for self-storage throughout the area has continued to outpace supply. This consistent lack of available supply has driven up self-storage property values, which made this the perfect time to sell this portfolio.”

For comments, questions or concerns, please contact Amy Sorter


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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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