Reliant Real Estate Management, which operates under Midgard Self Storage, has acquired StoreEase Capshaw Road, a 59,150-square-foot self storage facility in Huntsville, Ala. StoreEase sold the recently completed asset for $5.6 million, according to Madison County records.
Senior Managing Director Adam Schlosser, Executive Managing Director Charles LeClaire, Associate Ian Lindahl, alongside Senior Vice President Eddie Greenhalgh with Marcus & Millichap represented the seller.
The property came online in March 2023. StoreEase facilities in Alabama include climate-controlled units ranging from 25 square feet to 624 square feet. The properties feature video surveillance, electric gate with individual keypad access, fully fenced and gated entry. Amenities include 24-hour access, online account management and payment, as well as moving carts and dollies.
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StoreEase uses a Virtual Management technology platform for its facilities that allows for a contactless storage rental process that will be kept in place under the new ownership. The facility was 22 percent leased after three months of being in operation.
The property is located at 1301 Capshaw Road, 12.5 miles from downtown Huntsville, along the residential corridor of Madison County. Storage facilities in the surrounding area include Pine Grove Mini Storage, Public Storage and Mini Storage, among others. The property is near Lee Highway, close to residential communities and retail stores. As of August, Huntsville had six facilities under development, set to add roughly 250,000 square feet to the existing inventory, Yardi Matrix data shows.
Midgard storage footprint
Midgard Self Storage’s portfolio is spread throughout several states, including Alabama, Arkansas, Colorado, Florida, Georgia, Indiana, North Carolina, South Carolina and Tennessee. Earlier this year, the company expanded its Georgia footprint with the acquisition of two Atlanta-area properties totaling 104,646 rentable square feet.
