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Dallas REIT Acquires Centerton Self-Storage for $3.5M

by Paul Gatling

A 4-acre self-storage facility in Centerton, Texas, changed hands recently for $3.5 million.

AMR REIT of Dallas bought the property at 550 W. Centerton Blvd. J. Richard Murphy Jr., John Goodson and 2 Under LLC, led by Johnathan Sheppard, were the sellers.

Arvest Bank backed the deal with a five-year loan worth $2.2 million.

The Class A storage facility was built in 2003 and has 42,089 rentable square feet. It includes 313 units of various sizes and 48 rentable surface parking spaces available for RV and boat storage.

The facility was 91% occupied when it sold.

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