The Storage Acquisition Group arranged the closing of 4489 McDonough Highway in Conyers, Georgia. The 911-unit, 76,125 NRSF CubeSmart-operated facility was the final transaction in a multi-tiered purchase from developer True Self Storage. In total, the acquired portfolio includes 18 facilities, covering 1,452,959 square feet, and 13,714 units across 10 states. True Storage converted a vacant strip mall shell into the self-storage facility, and completed the project in December 2023. The new owner was not identified. The transaction was managed by a team of TSAG Advisors, including Bill Sitar, Jr. Esq., John Cranley, Andrew Burachinsky, and CEO and President Monty Spencer.
The Storage Acquisition Group also announced the closing of a self-storage facility at 19 Jean St., New Bedford, MA. TSAG advisors, including Bill Sitar, John Cranley, Andrew Burachinsky and CEO/President Monty Spencer, led the transaction. The facility has 149,936 NRSF spread across 1,582 units. Demetrius Spaneas with Land and Sea Real Estate Inc. is the broker of record.
Source: Newswire
NexPoint Storage Partners sold four self-storage facilities in the Midwest to U-Haul. JLL’s Self-Storage Team represented the seller. The four-property self-storage portfolio totals 3,345 units with three locations in the Twin Cities. U-Haul began serving the Twin Cities customers at three new facilities on Oct. 8, and also announced plans for another center by 2026. U-Haul Moving & Storage in Ramsey, MN, will be built on 8.7 acres near Highway 10 and Riverdale Drive. It will include 1,150 self-storage units spread across 8.73 acres and it’s scheduled to open by fall 2026.
The portfolio totals 327,791 NRSF square and is 88% filled. Locations are as follows:
- 101 American Blvd. W in Minneapolis
- 3216 Winnetka Ave N in Minneapolis
- 631 Transfer Road in St. Paul, MN
- 500 Southwest Blvd. in Kansas City, KS.
Sources: JLL (Jones Lang LaSalle Inc.) and Yahoo! Finance
The Argus Self-Storage Advisors team of Matt Haugen, Alex Ihrke, Nathan Gottlieb and Tom Flannigan announced the sale of Ridgewood Storage in St. Joseph, MN. The facility has 130 units and 20,200 rentable square feet of drive-up self-storage. The buyer is a local business owner and first-time self-storage owner. The Argus team is comprised by the Minnesota, Iowa, North Dakota and South Dakota broker affiliates for the company. Source: Business News This Week
Marcus & Millichap brokered the sale of All Star Storage, a 350-unit self-storage facility in New Hartford, CT, located west of the state capital. The seven-building property was built on 8.9 acres in 2016 and was renovated in 2016. It has a mix of climate- and non-climate-controlled units. Nathan Coe, Gabriel Coe and Brett Hatcher – all with Marcus & Millichap – in conjunction with Patrick Lemp with Ascendant Valuation Advisors, represented the undisclosed seller in the transaction. The buyer and sales price were not disclosed. John Krueger of Marcus & Millichap helped seal the deal as the broker of record. Source: Marcus & Millichap
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.