Mini Mall Storage Properties purchased an 8-property portfolio from Gelt Ventures, which operated under the name Citizen Storage. Located in Memphis, TN and the surrounding area, the portfolio totals 3,500 storage units and 485,000 rentable square feet. Mini Mall Storage Properties is a leading self-storage owner/operator with over 9 million square feet of space across 225+ locations in Canada and the United States. JLL Capital Markets represented the seller.
Source: JLL
Storage Post Self Storage entered the Midwest market, following the purchase of five self-storage facilities in Chicagoland. Pre-existing locations surround Chicago at Albany Park, 3215 W. Lawrence Ave.; Belmont, 2051 N. Austin Ave.; Edgewater, 6331 N. Broadway; Little Village, 3245 W. 30th St. and 5145 N. Clark St., uptown. Storage Post plans to add several locations in the next year, both in the Midwest and in markets throughout the United States. Source: Connectcre
U-Haul opened a retail, moving and storage center in Rocky Mount, NC. U-Haul Moving & Storage at Rocky Mount, 131 S. Wesleyan Blvd. was purchased on Nov. 20, The 8.59-acre property previously was the site of Rocky Mount Storage. It has 457 climate-controlled units.
Mitra Investment Partners, a private real estate investment manager, purchased Boon Self Storage in North Chili, NY, for the Mitra Diversified Fund I portfolio. Mitra’s full portfolio totals about 1 million square feet in 10 states. Source: KXAN
U-Haul Self Storage opened U-Haul Moving & Storage of Biloxi, a 344-unit facility in that Mississippi city at 12011 Old Highway 67, about 2 miles from Interstate 10 and Mississippi Highway 15. It has a single building, covering 4.6 acres, and 54,000 square feet. The facility was acquired from a private seller in September. Source: Multi-Housing News
Marcus & Millichap brokered the sale of a 260-unit self-storage facility in Hughes Springs, TX, about 140 miles east of Dallas. The facility was built in 2019 and totals 54,100 NRSF, including 20 RV/boat storage spaces. Brendan Karr and Danny Cunningham of Marcus & Millichap represented the seller, a local developer and found the buyer, a Dallas-based investment company. Source: RE Business Online
Marcus & Millichap closed the sale of Old South Self Storage, a 198-unit self-storage property in Nantucket, MA. Michael Palladino, Kevin Bledsoe and Matthew Junkin, investment specialists in Marcus & Millichap’s King of Prussia office, arranged the sale. Thomas Shihadeh, broker of record in Massachusetts, helped close the transaction. Source: Connect CRE
Bruce Goldberg
Bruce Goldberg is a freelance writer and editor based in Denver. He worked in newspapers and magazines as both a business writer/editor and sportswriter/editor for 35 years.