Houston-based Lakewood Realty Investments LLC purchased Spartan Storage, a facility in Montgomery, Texas. The property features 64 units and a total of 19,998 square feet. The facility is located 43 miles from downtown Houston. Lakewood was represented by Versal, Spartan was represented by Ryan Dooley of CRD Realty.
NAI Pfefferle brokered the sale of a 135-unit self-storage facility in Highbridge in northern Wisconsin. The sales price was undisclosed; the asking price was $1.5 million. The 31,040-square-foot facility is located at 38147 State Highway 13. Jonathan Glassco of NAI Pfefferle and Scott Rihm of EquiCap Commercial brokered the transaction. Source: REBusiness Online
Liberty Bend Self-Storage has traded. The 482-unit, 60,050-square-foot facility is located in Liberty, MO, the northeast corner of the Kansas City metro. Larry Goldman, a broker with Argus Self Storage Advisors representing Kansas, Missouri, Arkansas and Southern Illinois, represented the seller in the transaction. The facility was owned by Russell Family Real Estate LLC, which it sold to a local investment group that bought the facility as the final leg in a 1031 Tax Deferred Exchange. Economic occupancy was about 70% at closing, and the property sold for an approximate six cap rate. Argus is based in Denver, CO.
Marcus & Millichap announced the sale of Highlands Self Storage. The 53,865-square-foot facility is located at 178 N. Church Road in Franklin, NJ. The price was undisclosed. Kevin Bledsoe and Matthew Junkin, investment specialists in Marcus & Millichap’s King of Prussia, PA office, had the listing to market the property. The facility’s original owner was still operating the site before the sale. Source: Market Screener
An affiliate of Banner Real Estate Group has sold a self-storage facility located at 6025 Park Drive in Rocklin, CA, about 22 miles northeast of Sacramento. An institutional buyer bought the business for an undisclosed price. The three-story, 98,240-square-foot building has 993 units and was completed in 2021. Climate-controlled units are available. Brian Somoza led the JLL Capital Markets investment sales and advisory team that represented the seller in the deal. Source: RE Business Line
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.