- people on the move
Self-storage company acquires site
A multi-building self-storage property in the area has changed hands.
South Hudsonville Self-Storage, which operated a 10-building self-storage location in Hudsonville, at 4254 Central Pkwy., has been acquired by Your Space Self-Storage, a California-based company.
The Hudsonville property — which has 310 units ranging from 5'' x 10" to 18" x 60" — has nine storage buildings and an office building and maintained a near-100-percent occupancy rate for the last three years.
The sale was made last month after the property was put on the market by unnamed investors who have owned it since 2005.
The purchase marks Your Space Self-Storage’s fifth location in West Michigan.
Your Space Self-Storage has holdings of about 1,500 units at four other locations in West Michigan, including the newly converted Aslan Building in Grand Rapids, at 600 Seventh St. NW.
Colliers International | West Michigan handled both sides of the deal, with Colliers' Matt Abraham and Trent Wieringa representing the sellers and Colliers’ David Rapp representing the buyer, Your Space Self-Storage.
The property features “top-quality construction for security and safety and reflects the economic momentum we’re seeing in West Michigan,” said Wieringa, associate, Colliers International | West Michigan.
“We see continued strong interest in the self-storage market, as we see in other industrial sectors. Companies are looking to expand or relocate in West Michigan, and the self-storage market is part of that dynamic growth.”
The sellers were prompted to sell because of West Michigan’s improving economic conditions as well as a high demand for self-storage units in the area.
“With the economy in West Michigan continuing to show strength, we see the self-storage sector as a key part of the region’s growth, because access to storage facilities is critical for families and small businesses in the area,” said Andre Gardzella, owner, Your Space Self-Storage.
Gardzella added that the South Hudsonville Self-Storage site has “enjoyed phenomenal success and popularity.”
“As a local company, Your Space Self-Storage is excited to take this facility to the next level,” he said.