Denver-based real estate investment firm VanWest Partners purchased assets in Nevada, Arkansas and Georgia, giving it 40 self-storage facilities, with more than 20,000 units and more than 3.2 million NRSF. ClearHome Self Storage now operates the new facilities (which VanWest owns), and they include 539 units (72,645 NRSF) in Springdale, AK; 314 units (36,400 NRSF) in Arville (near Las Vegas, NV); and Dacula, GA, (425 units and 58,750 NRSF). VanWest has deployed nearly $32 million in 2024.
ClearHome Self Storage – Dacula
Source: PR Newswire
JLL brokered the sale of three self-storage facilities in the Philadelphia area. The facilities, which traded as part of a 468,266-square-foot portfolio deal that includes three other facilities in South Florida, are at 1354 Hook Road in Sharon Hill, 3952 N. Providence Road in Newton Square and 4440 E. Bristol Road in Trevose. A partnership between Metro Self Storage and Heitman sold the portfolio to Andover Properties, which will rebrand the site under its Storage King USA flag. Brian Somoza led the JLL team that brokered the deal. Source: REBusiness Online
Phoenix, Arizona-based U-Haul has paid Buhl Investors in Edina, MN, $9.5 million for a 975-unit self-storage facility on 2.63 acres at 1717 W. River Road N. in Minneapolis, MN. The two-story building is U-Haul’s fourth location in Minneapolis and 39th in the state. Amerco Real Estate Co., the real estate arm of U-Haul, closed Nov. 18 on the cash acquisition. Source: Finance-Commerce
U-Haul has bought U-Haul Storage of Fort Henry Drive, a 0.75-acre property purchased Nov. 12. It is the 49th U-Haul-owned in Tennessee, offering accessibility to Interstate 81 and Interstate 26. U-Haul of Fort Henry Drive has two one-story buildings that have more than 30 climate-controlled units. Source: Morningstar
Marcus & Millichap worked the sale of Hughes Springs Storage Units, a 54,000-square-foot self-storage facility in Hughes Springs, TX. Brandon Karr and Danny Cunningham, investment specialists in Marcus & Millichap’s Fort Worth office and co-leaders of the Karr-Cunningham Storage Team, represented the seller, a Hughes Springs native who developed the property and found the buyer, a Dallas-based real statement investment company. The facility, built in 2019, takes up approximately 54,100 rentable square feet across 260 units, including 240 drive-up units and 20 fully enclosed boat/RV spaces. The facility has an occupancy rate of 94 percent. 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.