Philadelphia, PA-based Snapbox Self Storage purchased its first self-storage facility in the Atlanta, GA market at 5065 Sugarloaf Parkway, Lawrenceville. It has 859 units, with a mix of climate-controlled and drive-up, and 95,333 NFSF. Source: PR Newswire
Trojan Storage, based in Redondo Beach, CA, purchased Mokena Self Storage, located at 19140 Darvin Drive in Mokena, IL for $18 million. The facility is a new, three-story, climate-controlled structure with 938 units and 108,724 square feet. It’s been rebranded as Trojan Storage of Mokena and is Trojan’s first site in the Chicago MSA. Ashley Compton of Colliers represented the seller, a private developer. Source: Trojan Storage
U-Haul Moving & Storage of Annapolis, MD bought an abutting 3.95-acres piece of land with a former Extra Space Storage facility on it that adds 44,139 square feet and 908 units to the existing U-Haul location. Source: PR Newswire
Arcland Property Co. acquired a 78,446-square-foot self-storage facility at 9600 Cosner Drive in Fredericksburg, VA from Graham Real Estate. Arcland’s Self Storage Plus will manage the property, which sits on nearly 2.4 acres, has four three-story buildings, and offers both climate-controlled and non-climate-controlled units. The site also has RV and boat parking. Arcland now has 51 properties in its portfolio. Source: Multi-Housing News
JLL Markets closed the $12.3 million sale of Central Self-Storage, a 573-unit facility at 641 E. Warner Road in Chandler, AZ. The JLL deal team was comprised of Steve Melon and Brian Somoza, both managing directors, and Carl Beardsley, director. The seller was Pegasus Group. Invesco Real Estate bought the asset in partnership with Baranof Holdings. The facility has six single-story buildings and one covered parking structure, plus 100 climate-controlled and 457 non-climate-controlled units, plus 10 parking spots. Source: AZBigMedia
Meridian Storage Group announced the sale of Storage Authority in Land O’ Lakes, FL. It has 478 units and 51,630 NRSF. The property opened in November 2020 and was 55% occupied at the time of marketing. Patrick Kidder, president of Meridian, along with Taylor Dooley, senior associate, represented the seller and found the buyer, a national operator. Source: Meridian Storage Group
HPI Real Estate acquired Sunny’s Self Storage in Katy, TX. Expanded in 2018, the 70,355-square-foot facility has 608 units. It’s near the intersection of Interstate 10 and Colonial Parkway. HPI now has six assets in Houston and 10 in Texas. Source: HPI Real Estate
CubeSmart paid $14.75 million to buy a self-storage facility in Delray Beach, FL. MIC Venture LLC, managed by Jim Zengage of Delray Beach-based Southern Development Services, sold the 62,250-square-foot site at 1125 Wallace Drive to the Malvern, PA-based company. The price came to $237.00 per square foot. It was built on a 2.27-acre site in 2019 and is a few minutes from the Linton Boulevard exit off of Interstate 95.
SkyView Advisors, based in Tampa, FL, announced the sale of Life Storage (Managed) in Denver, CO. The facility has 78,739 NRSF and 761 units. Zachary Urow, senior vice president, and Ryan Clark, director of investment, represented the seller. Source: SkyView Advisors
Matt Hugen, Alex Ihrke and Tom Flannigan of KW Commercial Minneapolis, who are broker affiliates of Argus Self Storage Advisors, listed and sold the drive-up Fargo Space Center in Mapleton, ND. It sold for $725,000, and has 56 units and 10,500 rentable square feet. The site also has 14 outdoor parking spaces. Hugen and Irhke are the Argus Self Storage Advisors in Minnesota, North Dakota and Iowa. Source: PR.com
Andover Properties LLC (dba Storage King USA) bought Alta Vista Storage in Houston, TX. It has 34,100 NRSF and 358 climate-controlled units. It’s located on State Highway 3, blocks away from FM 646. Andover plans to expand the property by 75,000 square feet. The Storage King portfolio now has 10 facilities in the Houston MSA and 33 in Texas.
Also, the company purchased 1st Defense Storage in Corpus Christi, TX. It has 73,300 NRSF, with a mix of 673 climate-controlled, non-climate-controlled and covered RV spaces. It has three facilities in Corpus Christi and 33 in Texas.
Marcus & Millichap
Marcus & Millichap announced the sale of Mesa Storage, a 16,900-square-foot facility at 620 Dale St. in Odessa, TX. Arol Horkavy and Jon Danklefs, investment specialists in the company’s Austin, TX and San Antonio, TX offices, had the listing. The seller is an individual personal trust. The facility has 16,900 NRSF and sits on 0.79 acres. It features 133 non-climate-controlled units.
The company also sold the Byrd’s Mini Storage Gainesville Portfolio for $5.95 million The property has 72,596 square feet of self-storage. The buyer and seller both were LLCs. Stacy Gorman, senior vice president of investments in Marcus & Millichap’s Atlanta, GA office, had the listing, and also found the buyer along with Sam Slocum, an investment specialist in the Atlanta office. The portfolio has four properties that are within 3.5 miles of each other. The properties include self-storage, warehouse space, retail spaces and an apartment. A billboard with an in-place lease through September 2029 also is included.
Marcus & Millichap brokered the sale of Storage Made EZ, a 590-unit facility in Evans Mill in upstate New York. It was built on 10.3 acres in 2006 and has 211 climate-controlled units, 370 non-climate-controlled ones and nine retail spaces for a total of 80,004 NRSF. Luke Dawley, Nathan Coe, Gabriel Coe and Brett Hatcher of Marcus & Millichap represented the seller and buyer. Susan Bands of Marcus & Millichap was the broker of record.
Marcus & Millichap arranged the sale of Main Plaza Storage, a 554-unit, 66,500-NRSF facility in the eastern Houston, TX suburb of Baytown. Dave Knobler of Marcus & Millichap represented the seller, a private investor, and found the New York-based buyer. Source: REBusiness Online