Public Storage paid $11.4 million for a self storage complex in Wellington.
Wellington Self Storage LLC, a Coral Springs-based company managed by Seymour Ravinsky, sold the property at 5359 S. State Road 7 to PS Florida One, an affiliate of the Glendale, Calif.-based self storage REIT (NYSE: PSA). The seller built the 88,610-square-foot facility on 4.6 acres in 2003.
This is Public Storage's first transaction in Palm Beach County since it acquired nine facilities there in 2013.
