Patriot Self Storage, Passco, Plant Local Stake

Passco Cos. LLC, in partnership with Patriot Self Storage Management, entered Texas with a 54,295 square-foot, self-storage acquisition. The asset is at 4217 San Felipe St., in Houston’s River Oaks neighborhood. Clarion Partners and Private Mini Storage sold the building; the sales price was not disclosed. The Harris Central Appraisal District assesses the property at $7.1 million. Aaron Swerdlin with NKF Capital Markets brokered the transaction.

The new owners will rebrand the property as Patriot Self Storage.

“Passco has been in partnership with Patriot Self Storage Management for over 10 years, and acquired self-storage facilities in the state of Florida,” explained Scott Allen with Passco Companies Development. He went on to say that the partnership began with Hal Perdew of Perdew Investments, and “has since rebranded to Patriot Self Storage Management to match the property names.” Allen said the JV is looking for other facilities in Texas and throughout the country.

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