Chicago-based Harrison Street, an alternative real estate manager, purchased $200 million in 19 properties in Florida, Georgia, Alabama, North Carolina and South Carolina. The off-market purchase was comprised of more than 12,000 units and 1.4 million square feet of storage space.
Reliant Real Estate Management, a self-storage partner of Harrison Street, will manage the 19 properties under the Midgard Self Storage banner. Harrison and Reliant own and operate 65 self-storage properties properties as part of a joint venture partnership. Harrison Street has invested more than $3.5 billion in 322 self-storage assets in North America since forming in 2005, according to the company.
Source: Commercial Observer
In California, goHomePort, an investment firm that launched in 2020, closed on a purchase in West Sacramento and now owns 11 properties in Arizona, California, Colorado, Missouri and Mississippi. The company offers storage solutions to RV and boat owners. It also has a rental management program to owners who seek to rent out their RVs. Source: Longview News-Journal
Spartan Investment Group, a Golden, CO-based privately held real estate investment firm specializing in self-storage, purchased a facility at 775 Athena Drive, 10 minutes from the University of Georgia in Athens, GA (below). It’s Spartan’s 19th project in the state and brings 101,225 square feet of NRSF across 1,075 units. It also offers both climate-controlled and drive-up options.
Versal
Versal, based in Austin, TX, arranged the sale of Boat Barn Self Storage in Webster, TX. The property has 75,792 square feet of rentable space, including 5,904 for an outside parking area. The site was 93 percent filled at the time of the sale.
Versal also closed a deal for the three-property DFW Self Storage Portfolio in the Dallas-Fort Worth area, with 68,030 NRSF spread across 585 units. It has single-story drive-up units and open-air parking for vehicles, boats, RVs and trailers.
Matthews Real Estate Investment Services
Keep-It Self Storage, located at 12906 Loma Rica Drive, Grass Valley, CA was sold to a new owner. Senior Associate Shane Avera and First Vice President Austin McLeod represented the seller. The facility recently was expanded to 70,229 Baxter Road, Virginia Beach, VA. The facility has two buildings.
In Virginia Beach, Matthews arranged the sale of Squirrel Away Storage, 4740 Baxter Road, also in Virginia Beach. The facility features two buildings. The first was opened in 2019 and leased. The second, a two-story, all-climate structure, was added in 2022. An out-of-state private investment group purchased the property, McLeod represented the seller.
Matthews also arranged the disposition of Silvers Storage at 460 Bookout Road, Ringgold, GA. The property sits on a 7.42-acre lot.
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.