CBRE announced it brokered the sale of two My Neighborhood Storage Center self-storage facilities in Central Florida for $58.25 million to a joint venture involving Invesco and Westport Properties. The My Neighborhood entities together total 129,847 square feet. One is at 7660 Majorca Place in Orlando and the other is at 7902 Winter Garden Vineland Road in Windermere. Each site is about 92 percent occupied. The Orlando facility has 65,663 square feet and 594 interior climate-controlled or ground-based exterior drive-up units. The Windermere site has 64,180 square feet and 572 climate-controlled units. It’s approved to expand by 22,757 square feet and by 306 units on its 2.22-acre site. CBRE is based in Dallas, TX.
Valley Storage acquired Tryon Mini Storage at 2908 Neuse Blvd., Newbern, TN as of Dec 21, 2021. The facility has 256 temperature-controlled and outdoor units. Valley Storage, a 35-year-old family-owned business, has 45 locations in seven states: Maryland, North Carolina, Ohio, Pennsylvania, Virginia West Virginia and now Tennessee. Valley Storage bought the Newbern site plus four others right before the new year. Source: Yahoo!money
Berkshire Hathaway closed the purchase of Markham Self Storage in Jackson, TN. It has 63,412 NRSF and 362 units. Cameron Vale, senior vice president; Andrew Plunkett, vice president; and Parker Sweet, presented represented the seller and found the buyer.
Andover Properties (Storage King USA) bought Copper Safe Storage in Panama City, FL. It has 62,500 square feet and was built in 2021. It has 547 units, both climate-controlled and non-climate controlled. Storage King USA totals 122 facilities in 16 states, including 31 in Florida.
Austin, TX-based Bellomy & Co. arranged the sale of Benchmark Secured Storage in Hartland, WI to an out-of-state buyer. It was built in 2018, and has 48,054 NRSF across 399 units.
Talonvest Capital negotiated a loan for Rosewood Property Co. for the latter’s largest purchase ever – a 16-property storage portfolio, with locations in 12 states. The portfolio had a combined 1.3 million NRSF in about 12,000 units. Miami, Dallas/Fort Worth, Houston, Kansas City, Louisville, Charleston and Indianapolis were among the property locations. A Europe-based investment bank funded the non-recourse, 10-year fixed rate, interest-only loan. Talonvest’s Tom Sherlock, Erich Pryor, Mason Brusseau and Thalia Tovar helped build the transaction.
Boardwalk Development Group
The Boardwalk Development Group’s Boardwalk Storage Fund IV has made five purchases under that fund:
- A 49,775-square-foot facility in Tennessee now called Boardwalk Storage – Ooltewah Georgetown with climate-controlled and non-climate-controlled units in Ooltewah, TN
- A 33,980-square-foot store, Boardwalk Storage – Main Street, also in Ooltewash
- A 46,000-square-foot facility with both climate-controlled units and non-climate-controlled units in Soddy Daisy, TN and now called Boardwalk Storage – Sequoyah Road, with extension plans.
- A 52,700-square-foot site with both climate-controlled units and non-climate-controlled units in Clermont, GA and now called Boardwalk Storage, Cleveland Highway, with expansion plans.
- A 46,744-square-foot facility with non-climate-controlled units in Perry, GA, now called Boardwalk Storage – Macon Road.” The latter plans to add a 12,000-square-foot, climate-controlled building.
SkyView Advisors announced the sale of Life Storage (managed) in Carrollton, TX, in the Dallas-Fort Worth-Arlington area. It has 881 units across 90,656 NRSF. Zachary Urow, senior vice president, and Ryan Clark, director of investment sales, represented the seller.
The company also arranged the sale of an Extra Space Storage-(managed) site in Hartford, CT. It has 57,767 NRSF plus room to add 13,015 NRSF. Aaron Sanchez, senior associate, and Ryan Clark represented the seller in the transaction.
SkyView also put out a call for offers for a Public Storage (managed) facility in Louisville, KY. It has 107,000 NRSF and 1,013 units. The site is 83% occupied.
Marcus & Millichap
Marcus & Millichap arranged the sale of a 125,060-square-foot self-storage facility called Storage Port in Tanner, AL. Gabriel Coe and Brett R. Hatcher, investment specialists in Marcus & Millichap’s office in Columbus, OH, had the listing. Eddie Greenhalgh, Alabama broker of record, helped with the closing. The facility opened in 2020. It has 26 climate-controlled units, 545 non-climate-controlled units and two office spaces, plus 46 parking spaces for rent.
The company also arranged the sale of Stor U Self Storage, a 68,774-square-foot facility in Portland, CT with 528 climate-controlled units and 122 non-climate-controlled units. Nathan Coe, Brett R. Hatcher and Gabriel Coe had the listing and also found the buyer. Susan Bands, Connecticut broker of record, helped close the transaction.
Marcus & Millichap also arranged the sale of Hanover Mini Storage, an 18,750-square-foot facility in Hanover, PA. Luke Dawley, Nathan Coe, Brett R. Hatcher and Gabriel Coe had the listing and also found the buyer. Sean Beuche, Pennsylvania broker of record, helped close the deal. The facility has 18,750 square feet and 140 non-climate-controlled units.