Tuscaloosa 376-unit self-storage facility sells for $3.6 million

A major real estate transaction has closed in Tuscaloosa, as a 376-unit self-storage facility changed hands for $3.6 million. According to reporting from 205focus.com, the property, known as Bama Mini-Storage, is located at 213 Skyland Boulevard with convenient access to Interstates 20 and 359.

Property Details and Development

The facility spans 41,630 rentable square feet across a 3.32-acre site. The fenced and gated property, which saw its first phase of construction in the early 1990s, consists of seven buildings. In 2019, the site underwent significant improvements when two older structures were replaced with a modern 7,000-square-foot climate-controlled building. Additionally, the asset features newer building infrastructure and an on-site manager’s apartment.

Transaction Insights

The sale was managed by Marcus & Millichap’s Dave Knobler, Eddie Greenhalgh, Dustin Reese, and Mixson Staffel, who represented both the seller and the buyer in the deal. Both parties involved in the transaction were Alabama-based limited liability companies.

Despite facing some market resistance due to increasing supply pressures in the area, the deal successfully closed. Dave Knobler, a senior managing director of investments at Marcus & Millichap, noted the team's persistence in finalizing the sale. "Eddie and Dustin were relentless and ultimately found a local investor who was excited about adding to his Tuscaloosa portfolio," Knobler said. "The property maintains a high yearly occupancy with a long-term tenant base."