Self-Storage in Whitehaven Sells to Calif. Co. for $1.2M

An affiliate of Emeryville, Calif.-based Devon Self-Storage called Devon-Memphis LLC has bought a self-storage facility site at 3417 Fontaine Road in Whitehaven’s 38116 for $1.2 million. The sellers were William C. Bateman Jr., Marjorie Bateman Gore, Robert J. Bateman and Virginia Bateman Hess. The property has been renamed Devon Self Storage-Memphis. Built in 1972, the Class D facility has 164,610 square feet of storage space in multiple buildings. The site is on 7.4 acres on the west side of Fontaine Road north of Winchester Road in Hill & Fontaine Co.’s Brooks Avenue subdivision. The Shelby County Assessor of Property’s 2011 appraisal was $1.7 million. Devon Self Storage was founded in 1998 and is one of the top 15 self-storage operators in the U.S., according to the company’s website. It owns facilities in 11 states. Its other Tennessee location is in the Nashville area. (via Daily News)]]>