Public Storage bought a self-storage site at 2504 E State Road 60 in Valrico for $6.9M, according to a deed filed October 27.
The property was previously an Extra Space Storage facility, but records indicate that the buyer is PS Florida One LLC, an entity affiliated with Public Storage’s Real Estate Legal Department in Glendale, California.
SIGN UP FOR TBBW’S FREE NEWSLETTER
The deal adds to a growing list of national storage investors purchasing properties in Hillsborough County as population and development continue to push east of Tampa.
What we know
The seller, Valrico Storage 18 (FL) LLC, is managed by W.P. Carey Inc., a New York-based real estate firm.
The buyer, PS Florida One LLC, is a subsidiary of Public Storage (NYSE: PSA), the nation’s largest self-storage owner. The deed confirms a sale price of $6.9 million and $48,300 in documentary tax paid.
READ: PopUp Bagels opening 2nd Tampa location this week in Carrollwood
The property was built between 2009 and 2017 and spans more than 80,000 square feet. Though it still shows Extra Space Storage signage, Public Storage now owns the real estate and could rebrand the site later.
What this means for you
For investors and brokers, the sale shows continued REIT interest in the Tampa Bay market.
- National players like Public Storage and Extra Space are expanding across Florida
- REITs often buy properties operated by other brands
- Population growth along State Road 60 is driving higher commercial values
READ: Hyde Park residents push back on Magnolia Hotel proposal
For local business owners, this sale points to stronger property demand and rising property prices in Valrico and Brandon.
Takeaway
The $6.9M purchase of the Valrico Extra Space Storage site gives Public Storage another foothold in the Tampa Bay market.
While Extra Space still manages the site, Public Storage now controls the land and buildings, signaling more national activity in Florida’s storage sector.