All City Self Storage at 296 Walmart Drive in Soddy Daisy, TN, sold for $6.4 million. It sits on 23.75 acres. TNU3519SY LP bought the property from Charisma Storage LLC.
Source: Chattanoogan.com
A joint venture involving Metro Self Storage and Fremont Realty Capital put together a $185 million loan to refinance a 20-property self-storage portfolio. Varde Partners provided the floating-rate bridge loan on the sponsorships’ facilities, which include 14,215 units in six states. Source: Commercial Observer
Versal
Versal announced the sale of a Storage King USA facility in Corpus Christi, TX (above). The facility has 306 units totaling 41,848 NRSF and has frontage on one of the highest-traveled roadways in southeast Texas. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Andover Properties \ Storage King USA. The team of four also found the buyer, a publicly traded REIT. Versal is based in Austin, TX and Los Angeles, CA and focuses on the self-storage industry.
Versal also arranged the sale of Affordable Storage, a 44-unit in Clute, TX, about 60 miles south of Houston. The site has 46,785 NRSF. Logan, Foster, Bellomy and Johnson represented the seller, New Hampshire-based Fab Legacy LLC and they also found the buyer, LAGO Properties LLC in Miami, FL. The sales price was not disclosed.
Marcus & Millichap
Marcus & Millichap closed the $2 million sale of 901 Ridgeway Ave., a 23,820-square-foot industrial storage site in Aurora, IL. Jeff Rowlett, senior managing director of investments and investment specialist in Marcus & Millichap’s Milwaukee office, had the listing. Ridgeway Partners LLC was the seller. Micheal Kammes with Re/Max Commercial found the buyer, RDAA Express Inc. Steven Weinstock, broker of record in Illinois, helped close the transaction. The site sits on 3.18 acres, located more than 40 miles from downtown Chicago. The facility has four buildings, plus a lot for outdoor storage and parking. Source: REJournals
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.