Life Storage, at 825 Third Avenue South in downtown Nashville, TN, and sometimes called SoBro Storage, has sold for $14.8 million. It has 58,229 square feet and is located near live music venue Third & Lindsley. Public Storage of Glendale, CA is the buyer and also owns a storage facility one block away at 800 Rep. John S. Lewis Way (Fifth Avenue South). Beau Fowler and Taylor Preston, who developed the site with 685 units in 2017, are the sellers. Aaron Sanchez and Ryan Clark, senior associate and director of investment sales, respectively, with Tampa FL-based SkyView Advisors, represented the sellers. Source: Nashville Post
Colliers Chicago Senior Vice President Dan Lynch arranged the sale of Posen Storage (pictured above), a 535-unit facility at 14750 S. Western Ave. in Posen, IL. It was built in 2020. Lynch represented the buyer, National Storage Affiliates, and the seller, Safe Affordable Storage LLC, in the deal. Posen Storage has three stories and is climate-controlled. Source: Colliers Chicago
Self-storage will become the new use for the former Ace Hardware building at 1701 E. Center St. in Warsaw, IN, according to Swyft Group, a property manager based in Warsaw. The hardware store closed three years ago. Source: Times-Union
Bellomy & Co. arranged the sale of Houston Mini Storage, 215 Wynne St. in Houston, TX. The facility has 256 units and 34,660 NRSF.
NSA Property Holdings LLC, which is related to the National Storage Affiliates Trust REIT, bought two properties in Birmingham, AL, in separate deals. It purchased 320 Sixth Ave. SW for $7.63 million and 500 Foust Court for $5.09 million. Both deals closed in late September. The Foust Court property has an iStorage facility, and the Sixth Avenue SW property has a U-Haul self-storage facility. National Storage had 924 employees at the start of 2021. Also in the area, Springville Self Storage recently opened a 217-unit facility at 145 Walker Drive. Source: Birmingham Business Journal
Simply Self Storage purchased a seven-property self-storage portfolio in Houston, TX and a self-storage property in Dallas, TX. The Houston portfolio totals nearly 620,000 NRSF in more than 3,600 units, with more than 207,000 square feet of climate-controlled space. The Dallas property has 65,950 NRSF. Source: Yahoo! Finance
U-Haul Co. of Florida bought more than 74 acres of land Sept. 24 in Orlando, FL, from Orlando-based Central Florida Investments Inc. for $1.7 million. The land is at 5150 S. Orange Blossom Trail, which has three parcels. Also, U-Haul plans to build U-Haul Moving & Storage at Americana, which is scheduled for completion in 2023. Tampa, FL-based Franklin Street was the broker on behalf of Central Florida Investments, with a team of Terrence Hart, senior director; Michael Battey, director; and Katy Taylor, associate. Source: Orlando Business Journal
InSite Property Group
InSite Property Group, based in Torrance, CA, purchased an Extra Space-managed facility at 94-130 Leokane St. in the Waipahu neighborhood of Oahu, HI (pictured above). It has 44,390 square feet of climate-controlled, non-climate-controlled and drive-up units, and has been rebranded as SecureSpace Waipahu. SecureSpace is InSite’s property management firm. It will work in tandem with SecureSpace Mililani, a complementary store under construction seven miles north, to expand the brand in an underserved market, according to InSite. SecureSpace Waipahu was converted to storage in 2017 by the former owner and is 99.4% occupied.
InSite Property Group purchased Gibsonton Storage at 10195 Gibsonton Drive in Riverview, FL. It has 82,000 NRSF and will be rebranded as SecureSpace. It will have more than 700 units, and offer climate-controlled and drive-up ones. The business has only one other competitor within 1.5 miles. InSite plans to replace the security systems and to offer free Wi-Fi.
SkyView Advisors
SkyView Advisors of Tampa, FL announced multiple closings of self-storage properties. They are:
- The sale of Gibsonton Storage, an 84,970 NRSF facility in Tampa. SkyView’s Hunter Sells, senior associate, and Ryan Clark, director of investment sales, represented the seller.
- TGIF Boat and RV OKC, a 75,960 NRSF facility in the Oklahoma City MSA. Scott Schoettlin, senior associate, and Clark represented the seller.
- Extra Space Storage (managed), 85,620 NRSF, in Spring, TX. Zachary Urow, senior vice president, and Clark represented the seller.
- CubeSmart Storage (managed), 62,810 NRSF, in the Tampa area. Richard Riddle, senior vice president, and Clark represented the seller.
- Soundside Storage, 33,791 NRSF in the Pensacola, FL area. Urow and Clark represented the seller.
- EXR San Antonio, TX, 70,347 NRSF. Urow and Clark represented the seller.
- Stor 4 Dayz, 100,627 NRSF in the Orlando, FL area. Urow and Clark represented the seller.
Marcus & Millichap
Marcus & Millichap brokered the sale of Middle Island Self Storage, a 726-unit, 74,061-rentable-square-foot facility at 901 Middle Country Road in Middle Island, NY. It sold for $25 million, or $34,435 per unit. Madison Development, a New York City-based developer, was the seller. The company finished the facility in 2019 and chose Public Storage as manager. It sits on 5.3 acres, and has a two-story building plus two single-story ones. The transaction selling team included Nathan Coe, first vice president; Brett R Hatcher, senior manager director; and Gabriel Coe, senior vice president. Source: Multi-Housing News
Marcus & Millichap also announced the $900,000 sale of A-Z At the Fork, a 14,291-square-foot self-storage facility at 45045 W. Red Arrow Highway in Paw, MI. Sean M. Delaney, senior vice president and investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the listing. The seller is a private investor. Steve Chaben, broker of record in Michigan, helped close the transaction.
In addition, Marcus & Millichap announced the sale of AA Self Storage, a 104,610-square-foot facility at 1838 Old U.S 40 in Junction City, KS. Sean M. Delaney, senior vice president, and Robert Cook, associate, and investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the listing. The seller is a LLC; Delaney and Cook also found the buyer, also a LLC. Colby Haugness helped close the transaction
Also, the LeClaire-Schlosser Group of Marcus & Millichap arranged the sale of Banning Mini Storage on Ramsey Street in Banning, CA. The facility has 22,027 square feet and 110 units. Keith Phillips, investment associate in the Encino, CA office, and Adam Schlosser, senior vice president investments in the Denver, CO office, had the listing. The seller is a California-based LLC.
Also, the LeClaire-Schlosser Group of Marcus & Millichap arranged the sale of Marina Cove Storage, a 129,145-square-foot, 744-unit self-storage facility at 22 East 1500 South in American Fork, UT. Jordan Farrer, investment associate in the Salt Lake City, UT office, and Adam Schlosser represented the seller.
In addition, the LeClaire-Schlosser Group of Marcus & Millichap arranged the sale of Barker Cypress Self Storage, a 56,050-square-foot facility in Houston, TX. It has 2.89 acres of land and nine single-story buildings comprised of 130 climate-controlled units and 339 non-climate-controlled units.
Marcus & Millichap also arranged the sale of two facilities totaling 33,100 square feet in Crowley, TX, a suburb of Fort Worth. They have a combined 263 units and 33,100 rentable square feet of non-climate-controlled drive-up and uncovered boat RV storage. The properties at located at 10701 and 10531 Old Cleburne Crowley Junction. Brandon Karr and Danny Cunningham, investment specialists in the Fort Worth office, had the listing and also found the buyer, a private partnership using the proceeds from the sale of its first self-storage development to complete a 1031 exchange.
The company also arranged the sale of two self-storage facilities in the Oklahoma City market: Apublix Self Storage at 1300 S. MacArthur Blvd. in Oklahoma City, with 563 units and 83,960 rentable square feet, and Riverside Boat & RV Storage at 3100 N. Main St. in Newcastle, with 472 units and 161,316 rentable square feet. The Karr self-storage team (Bryan Quaschnick, Brandon Karr and Danny Cunningham) represented the seller of Apublix Self Storage and also found the buyer. The same team had the Riverside listing and secured the buyer.
Marcus & Millichap arranged the sale of the Goose Creek, SC storage opportunity, which is on 8-plus acres in Goose Creek, SC. Nathan Coe, Brett R. Hatcher and Gabriel Coe, investment specialists in Marcus & Millichap’s Columbus, OH office, had the listing. The seller is an LLC. Ben Yelm, South Carolina regional manager and broker of record, helped close the deal. The facility has 831 climate-controlled units and 84,080 NRSF. A three-story building is planned.
The company also sold a 47,400-square-foot, 362-unit self-storage facility at 6001 Ann Arbor Road in Jackson, MI, for $2.975 million. Tom Berlin, an investment specialist in the Detroit, MI office, had the exclusive listing. The seller is an LLC. The buyer, also an LLC, was secured and represented by Sean Delaney and Robert Cook of the Delaney Self Storage Group in Marcus and Millichap’s Oak Brook, IL office.
In addition, Marcus & Millichap arranged the sale of a 21,731 NRSF Cube Smart-managed facility in downtown Miami Beach, FL. Meir Perlmuter, Nathan Coe, Gabriel Coe and Hatcher, investment specialists in the company’s Columbus, OH office, had the listing. Ryan Nee, Florida broker of record, helped close the transaction. Baranof Holdings was the buyer. The facility has 786 climate-controlled units and 135 wine storage units.
Marcus & Millichap also announced the sale of Interstate Mini Storage, 124 Industrial Drive, in White House, TN. It has 28,450 rentable square feet, 190 climate-controlled and non-climate-controlled units, 26 park spaces and one warehouse space. Anne Williams-Blackwell of the firm’s Memphis office, and Andy Beeckman of the Nashville office, marketed the property. The seller was a local owner/operator.
