Just Sold: Extra Space pays $10.15 million for Maple Grove storage center.

Byline: Anne Bretts

Editor's note: "Just Sold" is a Finance & Commerce feature based on certificates of real estate value recently filed for commercial transactions and significant residential transactions in Twin Cities counties. Additional details in the transactions come from Plat Research, the Minnesota Secretary of State's Office, company documents, online real estate listings, F&C archives, CoStar and other research. Some purchase prices and per-unit calculations have been rounded.

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Extra Space Storage Inc., based in Salt Lake City, Utah, has paid $10.153 million for an 808-unit self-storage center at 13000 N. 63rd Ave. in Maple Grove. Extra Space Properties Two LLC, an entity of Extra Space, closed Dec. 13 on the cash acquisition from Joylene Co., an entity related to Ebert Construction in Corcoran.

Ebert developed the 117,000-square-foot self-storage facility on 1.5 acres of open land east of Interstate 494.

The price works out to $86.78 per square foot.

Ebert officials weren't available Thursday. The company has been active in the competitive self-storage market, developing new facilities and renovating existing warehouses and commercial buildings into storage facilities. The company's website includes a gallery of photos of 20 projects completed or under construction.

Ebert completed a similar project for Extra Space in Brooklyn Park in 2018. Ebert closed Aug. 8 on the $5 million purchase of a 58,500-square-foot Class C manufacturing building at 7725 Washington Ave. S. in Edina from Rimage Corp., a part of theEQ Holdingsportfolio. Greg Hayes, Extra Space vice president, said at the time that the company plans to increase the size of the building and convert all the space to storage. Ebert plans to own the Edina site, but hasn't chosen a management company yet.

Ebert has projects under construction at 4095 Nicols Road in Eagan and at 220 101stAve. in Coon Rapids.

Extra Space has more than 1,750self-storagefacilities nationwide, including 16 locations in Minnesota, completed by various developers.

Price: $10.153 million cash

Price per square foot...