The recent sale of a Med City storage center for $2.75 million shows that storing stuff remains a booming business.
The Stockade Self Storage center at 1308 Hadley View Court NE was purchased by Minneapolis-based storage chain KO Self Storage on Feb. 26. The name of the 26-year-old center has since been changed to KO Self Storage.
The 43,500-square-foot center rents storage units and places to store boats and RVs.
Stockade Storage of Rochester LLC sold the center to KO by a contract for deed deal with a $16,000 down payment.
Olmsted County estimated total market value for the property at $1.54 million for 2020-2021.
This deal expands KO Self Storage’s portfolio in southeastern Minnesota. KO, which owns storage centers in nine states, has locations in Austin, Owatonna and Albert Lea.
The firm has a total of 32 Minnesota centers, including the Rochester acquisition.