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Business Observer Monday, Dec. 2, 2013 6 years ago

William Warren Group buys Twin Rivers Self Storage

The price equated to $53 per square foot.

BUYER: 2830 Manatee SP LLC (principals: Clark Porter and William and Timothy Hobin), Santa Monica, Calif.
SELLER: Two Rivers Partners LLLP
PROPERTY: 2830 Manatee Ave. E. and 524 E. 29th St., Bradenton
PRICE: $4.2 million
LAW FIRM ON DEED: Williams Parker Harrison Dietz & Getzen, Sarasota

PLANS, DESCRIPTION: Santa Monica, Calif.-based The William Warren Group Inc. purchased the 79,532-square-foot Two Rivers Self Storage for $4.2 million.

The price equated to $53 per square foot. That figure is higher than the two-year average price per square foot for industrial space ($46) in the Tampa Bay area, according to the CoStar Group.

The 4.44-acre gated Bradenton self storage facility features 11 buildings, including a mini warehouse, a 1,972-square-foot office and 1,500 square feet of flex space. A portion of the storage space is air conditioned. The property also features automobile, RV, trailer and boat storage.

The new owner operates a portfolio of self-storage facilities under the StorQuest Self Storage brand name.

The William Warren Group did not reply to requests for comment prior to deadline.

The purchase entity, 2830 Manatee SP LLC, mortgaged the property to Bank of America NA for $3 million.

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