A large self-storage facility has been sold in Brookland. U Storage, based in Conway, has purchased the 60,000-square-foot facility for $3.5 million.
The deal was brokered on Aug. 28 by Hugh Jordan of The Jordan Group. The facility, on West School Street near the confluence with U.S. 49 has 380 individual units and sits on four acres. It was previously operated by the MyStorage.com brand.
The self-storage sector has been growing in recent years, according to Yardi Matrix. In 2022, the sector had a $56.4 billion market share and that number is projected to balloon to more than $74 billion by 2028, nationwide.
That’s a growth rate of 5.3% annually.
Yardi estimates there is about 2 billion square feet of self-storage space in the United States with an estimated 33,000 large scale facilities. Arkansas has an estimated 688 self-storage facilities, according to Selfstorage.com.