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Storage centers in Rochester and Austin sell for a combined $6.4 million

West Palm Beach, Fla.-based Storage Rentals of America recently purchased a Rochester storage facility for $4.39 million and an Austin one for $2.1 million from the Minneapolis-based storage chain KO Self Storage.

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ROCHESTER — A Florida company’s recent purchases of a Rochester storage facility for $4.39 million and an Austin one for $2.1 million shows that the business of storing stuff is still booming.

West Palm Beach, Fla.-based Storage Rentals of America purchased a 52,500-square-foot Rochester center at 1308 Hadley View Court NE on Aug. 8. The 27-year-old center features 12 buildings with 332 units as well as outdoor parking places to store boats and RVs.

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SROA bought the Med City facility from the Minneapolis-based storage chain KO Self Storage. KO purchased the property for $3.46 million in February 2021.

Olmsted County estimated total market value for the property at $2.72 million for 2022-2023.

The Rochester deal comes on the heels of a very similar one in Austin, where SROA paid $2.1 million for another KO Self Storage center.

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That facility at 2801 W. Oakland Ave. was sold by KO on July 28. It features five buildings with 170 units.

In the wake of the deals, Storage Rentals of America now owns 22 storage compounds in Minnesota.

Jeff Kiger tracks business action in Rochester and southeastern Minnesota every day in "Heard on the Street." Send tips to jkiger@postbulletin.com or via Twitter to @whereskiger . You can call him at 507-285-7798.

Jeff Kiger writes a daily column, "Heard Around Rochester," in addition to writing articles about local businesses, Mayo Clinic, IBM, Hormel Foods, Crenlo and others. He has worked in Rochester for the Post Bulletin since 1999. Send tips to jkiger@postbulletin.com or via Twitter to @whereskiger . You can call him at 507-285-7798.
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