As reported in the October 6 edition of the Boulder County Business Report (bcbr.com), Lone Tree-based SecurCare Self Storage just acquired five Boulder properties with close to 250,000 square feet of self-storage space, for $26 million.
SecurCare Self Storage purchased the facilities at 4545 and 4667 Broadway, 5815 and 6338 Arapahoe Road, and 6405 Odell Place from Pennsylvania-based U-Store-It (NYSE: YSI), according to Boulder County public records. These properties were purchased by SecurCare through the HVP Storage II LLC name, funded by investors through Chicago-based investment company Heitman Capital Management LLC. (Heitman provides an array of real estate services and products; their private real estate equity arm provides investment management services in the U.S. and Europe, including portfolio analysis and construction, property acquisition and disposition, asset and portfolio management, and takeover asset management to institutional investors invested in real estate.)
Founded in 1988 in Lone Tree, Colorado, SecurCare Self Storage, Inc. is a privately held company established to develop and acquire self storage facilities throughout the United States. Since its founding 21 years ago, SecurCare has built its business to more than 100 stores in 10 states (including CA, CO, GA, NC, NM, OK, SC and TX). While SecurCare Self Storage operates under a variety of names, the majority of the stores are either SecurCare Self Storage or Colonial Storage Centers.
SecurCare offers a myriad of storage features (including temperature-controlled units), to outdoor RV storage and various moving, packing and storage supplies. SecurCare's mission is to "satisfy all tenants’ storage needs." SecurCare continues focusing on improving and modifying their stores, resulting in improved customer service, and, as evidenced by today’s news, continues to acquire and develop self storage facilities in current markets while exploring new markets as opportunities present themselves.
In an interesting twist, these "new" Boulder properties are "old news" to SecurCare; the company previously owned them before selling them to U-Store-It for more than $31 million in May 2006. So, in a sense, these properties have come full circle and are "back home" again!