CBRE announced the $8.8 million sale of a self-storage facility in The Villages, FL, one of the best-known master-planned communities in the nation, and it has more than 80,000 households. Coleman Self Storage LLP was the seller and Allendale Ventures LLC the buyer....
In what could be the largest deal in self-storage history, industry leader Public Storage made an $11 billion unsolicited offer to purchase all outstanding shares of Life Storage. Life Storage, the country's fourth largest self-storage owner, said the proposal was...
Boardwalk Development Group sold a 10-property, 3,369-unit self-storage portfolio located in Atlanta, Georgia and Tennessee. The properties operate under the Mini Mall Storage brand. The purchaser was Avenue Living Asset Management. The Alabama facility is in Opelika....
It awaits approval, but a lot at 106-02 Rockaway Beach Blvd. is slated to become Storage Fox, with a six-story, 135,719-square-foot facility in Queens, New York City (below). The NYC Building Department and the MTA are revisiting the building plans and construction...
Enter the lobby of the new StoreEase self-storage facility in Hoover, AL and you’ll receive an enthusiastic greeting from a human manger. But don’t expect to shake their hand. That’s because StoreEase facilities and its managers aren’t physically there. Instead they...
Looking for a recession-resistant place to put your money during these turbulent times? Better get in line. Recently two real estate funds announced that they had exceeded their fundraising goals, each closing with ten-figure sums with which to buy storage properties...
CBRE announced the sale of a self-storage facility named Capital City Storage in Olympia, WA for $7.4 million. It has 417 units spread across 43,304 square feet in 14 buildings. CBRE’s Self Storage Advisory Group represented the seller, TJY Properties LLC, a private...
LSC Development LLC of Barrington, IL finished building a 90,136 NRSF structure, with 1,691 units, at 62-05 30th Ave. in Woodside, NY. It’s located in Northwest Queens near LaGuardia Airport and the Brooklyn Queens Expressway. Chicago-IL based ByLine Bank provided the...
Houston, TX-based LandPark Advisors LLC, in a joint venture with Sunset Capital LLC bought an eight-property self-storage portfolio in East Texas (in the Dallas-Fort Worth MSA). Right Move Storage LLC will manage the portfolio. Extensive improvements and starting up...
First Citizens Bank announced that its Middle Market Banking business provided a total of $65.8 million in financing for affiliates of Morningstar Properties, an investor in and operator of self-storage facilities, marinas and other specialty real estate assets. The...
Bluebird Self Storage purchased one of the oldest storage facilities in North America as its first location in Victoria, British Columbia, Canada. The four-story, 16,000-square-foot City Center Storage building at 824 Johnson St. was constructed in 1901. Originally,...
Inland Private Capital Corp., a real estate investment manager, and Devon Self Storage Holdings, a privately held national storage operator and developer, opened a 91,787-square-foot self-storage facility in Allentown, PA (below). It’s the third delivery on behalf of...
Fry’s Electronics is no more – and self-storage facilities are taking over some of the big-box retailers’ former locations. Los Angeles, CA-based LaTerra Development plans a $50 million mix of retail and self-storage to fill a Fry’s at 2488 Market Place Blvd. in...
Merit Hill Capital bought its second Broward County property, a four-building self-storage facility, in less than one month. An affiliate of Brooklyn, NY-based Merit Hill paid $17 million for the 326-unit Pines West Storage Center at 400 Northwest 172nd Ave. in...
Maya Capital Partners and Artemis Real Estate Partners have formed a $300 million joint venture focusing on self-storage assets in the Northeast United States. It will focus on both marketed and off-market acquisitions, including certificate of occupancy lease-up...
Public Storage recently reopened its facility adjacent to offices of Apple Inc in Cupertino, CA after completing an expansion and major high-tech upgrades. The facility at 20565 Valley Green Drive, now has two five-level buildings and grew from 51,000 square feet to...
JLL Capital Markets arranged a recapitalization of two new self-storage facilities totaling 1,975 units in California’s San Diego and Los Angeles areas. It was done on behalf of the seller, Baranof Holdings. Clarion Partners is Baranof’s new partner, buying out the...
Nashville-based Wedgewood Avenue sold a four-property self-storage portfolio in Murfreesboro, TN. Wedgewood operated the portfolio via a hub and spoke model with all operations centralized at the facility located at 2425 S Church Street (below). Wedgewood acquired the...
The Atlanta Botanical Garden in Georgia is working on a $40 million land swap that would result in a new five-story self-storage facility in the Virginia-Highland area of Atlanta. The existing Public Storage facility adjacent to the botanical garden will be torn down...
Amerco Real Estate Co., based in Phoenix, AZ, bought properties in Ankeny and West Des Moines, both in Iowa. It paid Omaha, NE-based HFB II LLC $10.7 million for the West Des Moines property at 620 Village View Drive. Amerco also paid HFB LLC $11.45 million for...
Riverbend Storage Property LLC sold its four-story, 132,848-square-foot, 886-unit self-storage facility at 2401 W. Broward Blvd. in Fort Lauderdale, FL (below) to Prime Storage Riverbend LLC for $35 million. The buyer is an affiliate of Saratoga, NY-based Prime...
Rosewood Property Company and Diamond Point Development started construction on a 68,000 rentable square-foot self-storage development in New York. Diamond Point serves as the project developer while Rosewood is the majority equity partner. The site is located about...
Trojan Storage has purchased a 72,850-square-foot self-storage facility and adjoining land in the Chicago area for $11.65 million. Marcus & Millichap arranged the sale of AAA Self Storage, located at 300 Sundown Road in South Elgin, IL. Sean Delaney, senior vice...
The Delaware Planning Commission approved three requests for recommendation to the City of Delaware City Council to allow a 49,600-square-foot indoor self-storage facility on the east side of the city. It would have 167 conditioned units and 204 unconditioned ones....
Ramser Development Company has hired Adam Deermount to serve as its Chief Investment Officer. In the new role, Deermount will be responsible for directing the strategic expansion of Ramser Development’s established portfolio of storage assets across the U.S. Ramser...
Flatirons Asset Management has acquired 33 self-storage facilities from Red Dot Storage for an undisclosed price. Red Dot will continue to manage the facilities on behalf of Flatirons. “After this transaction we currently own 76 properties in 14 states,” said Scott...
Ryan Smith is enthusiastic about Elevation Capital Group’s latest property purchase, made as part of ECG’s Fund 8 and brimming with promise. The Orlando, FL-based company acquired Oakville Self Storage, which is located at 405 Swann Ave. in the Potomac Yard...
Remediation must be completed before developers RD Management and BF Orangetown LLC can build a facility at 5 Greenbush Road in Orangeburg, NY, behind Lowes on Route 303. The project will put up a two-story, 118,323-square-foot, self-storage, multi-tenant and...
Life Storage paid $142 million in cash to buy a self-storage portfolio of partnerships that Bill Levine and Andrew Cohn, principals of Phoenix, AZ-based Levine Investments, own and control. The duo developed the portfolio of Allstate Self Storage-branded properties...
Frank DeSalvo, 33, and David Perlleshi, 32, are self-storage investment sales brokers who have worked together for five years. They recently left Sands Investment Group to join Franklin Street to build a national practice serving self-storage owners and investors....
Developer Steve Freedman wants to give self-storage a whole new look and plans to do so in downtown Tampa, FL. He expects next week to close his purchase of the half-city block at 1221 N. Florida Ave. There’s a surface parking lot there, but Freedman’s vision of the...
A $14.2 million self-storage facility sale has taken place in Pawtucket, RI. Utah-based WSP II Pawtucket LLC, is affiliated with Extra Space Storage, which owned and renovated the property in the last two years. The two-story facility is at the former Southeastern...
Amid mounting pressure from regulators, investors and lenders, the self-storage industry is starting to consider more its environmental impacts and seek out ways to reduce its contribution to global climate change. One such way is being pioneered by Houston-based...
Extra Space Storage is coming to Lafayette, LA with a climate-controlled self-storage facility coming to a former Sears space that’s attached to The Acadiana Mall. A car wash will also be added. Star Lafayette LLC, a Florida-based development company, bought the...
Maya Capital Partners LLC bought three self-storage facilities in the Northeast. They will operate under MCP’s brand, Drive-Up Storage. The facilities are: Amwell Valley Self Storage, 470 NJ-31 in Ringoes, NJ, with 265 drive-up units The Storage Depot, 483 Washington...
Jordan Wright started Harvest Property Management in Wichita, KS in October 2020 – right in the heart of the pandemic. “It was kind of a crazy time to start a business, but we took that leap of faith and have been growing ever since,” said Wright, director of...
Wasatch Storage Partners of Draper, UT sold an 83,312-square-foot building at 44 Broadway in South End in Albany, NY for $12.5 million. That was more than twice what it fetched six years ago. The buyer was Life Storage of Buffalo, NY. Wasatch had owned the property...
In Virginia, the Town of Herndon Planning Commission unanimously approved replacing a 40-year-old warehouse with a 30,000-square-foot Security Public Storage facility at 331 Victory Drive. The warehouse, whose tenants include the Wolf Trap Foundation for the...
Yes, there is a story behind the naming of Patriot Holdings, a Las Vegas, NV-based real estate private equity group that is rapidly expanding its remotely-managed portfolio of self-storage facilities. “I’m from Hudson, New Hampshire, and I’m a diehard New England...
NitNeil Partners plans to build a five-story self-storage facility at 25856 Highway 19 in Clearwater, FL. It will sit on an 0.25-acre site that the company bought in June. It will have 725 climate-controlled units across 70,000 rentable square feet. Construction will...
Brothers Alex and Nik Turik, who started their Chicago real estate investment firm HAN Capital in 2009, have cashed in with combined sales of $32 million for two deals. They sold an Old Town self-storage property at 1516 N. Orleans St. in Chicago for about $20 million...
Last month StorageMart announced it was getting into the third-party management business. The new truSTORAGE platform will offer property management services to independent storage operators, allowing them to benefit from use of the StorageMart name, as well as the...
Extra Space Storage Inc. paid $590 million to purchase Storage Express, adding 107 remotely-operated facilities to its portfolio. The purchase included all the assets of Indianapolis, IN-based Storage Express in Indiana, Ohio, Illinois and Kentucky, plus 14 future...
A four-story, 140,000-square-foot self-storage facility is coming to South Orange, NJ. Larry Weiss of Elite Realtors sold 311-317 Valley St. and adjoining properties along Lackawanna Place. Storage Platforms bought the five parcels and will put up the new building....
One of the country’s largest self-storage operators has been hit by a major data breach. Last week U-Haul notified affected customers of the incident, informing them that their names and driver’s license information had been compromised. The company said in the letter...
Spartan Investment Group, based in Golden, CO began an expansion (below) that will add about 31,700 square feet of climate-controlled storage and 12,940 square feet of non-climate-controlled storage at its FreeUp Storage facility in Huntsville, TX. That facility...
Versal Partners announced the closing of a Life Storage managed facility in North Las Vegas, NV (below). It has 90,875 rentable square feet and three stories, as well as climate-controlled facilities with interior and drive-up units. The seller was HPI Self Storage...
TAC Pearl River LLC, a division of Ardent Cos. of Atlanta, GA, secured a short-term, $18 million building loan to put up a climate-controlled, 106,900-square-foot, 420-unit self-storage facility in Pearl River, about 31 miles north of New York City. It will be located...
Merit Hill Capital bought two self-storage facilities totaling 108,000 square feet in Auburn, CA for $21 million (below). CBRE’s Self Storage Advisory Group represented the seller. The two sites have a total of 938 units and include RV parking spaces. Source:...
A Kmart store closed since early 2019 will become a self-storage facility in Allentown, PA. Devon Self Storage plans to use the existing 86,395-square-foot Kmart building at 1502 S. Fourth St. and also plans to build an estimated 37,000 square feet for a self-storage...
