Sold! Weekly Self-Storage News Round Up 1.26.22

Bruce Goldberg
January 26, 2022

Philadelphia, PA-based Snapbox Self Storage bought three properties. Snapbox Windsor Mill is at 2760 Lord Baltimore Drive, Windsor Mill, MD, with 103,000 square feet and more than 1,100 units. Snapbox Self Storage – Poinciana is at 1401 SW 1st Ave., Fort Lauderdale, FL, with 74,000 square feet and 888 units; and Snapbox Self-Storage – Aventura at 19301 W. Dixie Highway, Miami, FL, with 82,000 square feet and more than 1,000 units. All three properties closed in December 2021.

Berkshire Hathaway worked the sale of Storage Perfecto Self Storage, with 55,250 NRSF and 418 units in Brownsville, TX. Berkshire Hathaway’s Cameron Vale, senior vice president; Andrew Plunkett, vice president; and Parker Sweet, president, represented the seller and found the buyer. 

Andover Properties (dba Storage King USA) purchased Parkmore Storage, its fourth buy in the Milton, FL area. It has 360 units spread among 56,450 square feet, with drive-up units, climate control, and office and parking spaces. The property sits on 15 acres and there are plans to expand. Storage King now has 122 facilities in 16 states, with 31 in Florida.

InSite Property Group of Torrance, CA, bought Storage Maxx, a 42,210-square-foot property at 1496 Old Dixie Highway in Homestead, FL. It will be rebranded as SecureSpace Homestead. The property includes a three-story, climate-controlled building, plus several single-story structures with drive-up and interior units and a 22-acre rentable parking area. The new owner plans some renovations, such as a remodeling of the leasing office.  

Houston, TX-based LandPark Advisors LLC bought an Easy Self Storage facility at 11901 SF249 in Houston, TX. Easy Self Storage has five single-story storage buildings with about 30,000 rentable square feet. It was built in 1984, with Phase II completed in 2021, and sits on 2.12 acres along Tomball Parkway – Highway 249. It has climate-controlled and non-climate-controlled units. Right Move Storage has been operating the Easy Self Storage facility since 2017.  Source: LandPark Advisors LLC

Gelt Inc.

Gelt Inc. purchased a six-building, 85,830-square-foot, 703-unit self-storage facility on 4.02 acres at 5891 S. Youngfield Court in Littleton, CO. It has a mix of drive-up, indoor and climate-controlled units. Gelt now owns 11 assets totaling 5,800 units nationwide. Adam Schlosser and Chico LeClaire of Marcus & Millichap represented the seller, a Denver-based private investment group. Gelt, a regional real estate investment and asset management company based in Tarzana, CA.

Gelt also bought a 55,025-square-foot, 578-unit self-storage site at 4441 Cloud Ave in La Crescenta, CA for $26 million. The three-building, two-story property has drive-up and indoor units. US Storage Centers will manage the facility. Jacob Becher, senior vice president of investments with the Hatcher group of Marcus & Millichap, represented the seller, a Los Angeles, CA-based private investor. 

SkyView Advisors

SkyView Advisors handled the sale of Volo Storage, which has 545 units and 85,800 square feet in Volo, IL. It has 85,800 NRSF on 7.55 acres of land. Senior associate David Zehendner and Ryan Clark, director of investment sales, represented the seller in the transaction.  

SkyView also worked the sale of My Storage Space, with 598 units and 61,190 NRSF in Grand Rapids, MI. David Zehendner, senior associate, and Ryan Clark, director of investment sales, represented the seller in the transaction.

The company also arranged the sale of an 881-unit Life Storage facility in Carrollton, TX. It has 881 units and 90,656 NRSF. Zachary Urow and Ryan Clark of SkyView Advisors represented the seller in the deal. Source: REBusinssOnline 

Marcus & Millichap

Marcus & Millichap arranged the sale of a Life Storage facility with 71,015 square feet at 4935 Fyler Ave. in St. Louis, MO. Sean M. Delaney, senior vice president and investment specialist in the company’s Chicago Oak Brook office, had the listing on behalf of the seller, a local LLC. Delaney also secured and represented the buyer, a Texas-based LLC. Bradley Barham, Missouri broker of record, helped close the deal. The facility opened in December 2019 with 426 climate-controlled units. It expanded in July 2021 to include 172 additional non-climate-controlled drive-up units and 137 outdoor parking spaces. 

Marcus & Millichap Real Estate Investment Services of Atlanta Inc. announced the sale of CubeSmart Self Storage (managed), a 70,774-square-foot self-storage facility in Charleston, SC. It has 677 climate-controlled units and one retail space, totaling 70,774 NRSF. Gabriel Coe and Brett R. Hatcher, investment specialists in the company’s Columbus, OH office, had the listing on behalf of the seller. Ben Yelm, South Carolina broker of record, helped close the transaction. 

Marcus & Millichap also sold its Reidsville (NC) Mini Storage portfolio, which has 78,585 square feet, for $5.125 million. Stacey Gorman, an investment specialist in Marcus & Millichap’s Atlanta, GA office, had the listing, and also found and represented the seller, an LLC. Benjamin Yelm, broker of record in North Carolina, helped close the deal. 

Marcus & Millichap arranged the sale of Adventure Boat & RV Storage, a 78,512-square-foot, 136-unit facility at 2880 State Highway in Indian Mound, TN. Anne Williams-Blackwell secured and represented the buyer. Trey Kirby of NAI Nashville represented the seller, a private investor.  

The LeClaire-Schlosser Group of Marcus & Millichap also announced the sale of a CubeSmart (managed) portfolio, with two properties in the Atlanta, GA MSA, at 2141 Powers Terry Road in Marietta, GA and 2232 Mountain Industrial Blvd in Tucker, GA. Atlanta-based Mequity Cos. developed both. They have a combined 1,843 units and 171,990 NRSF. Ian Lindahl, investment associate, and Adam Schlosser, senior vice president investments, in Marcus & Millichap’s Denver, CO office, had the listing on behalf of Mequity, an East Coast self-storage development company opened in 2017. 

Marcus & Millichap brokered the sale of Stor U Self Storage, a 651-unit facility in Portland, CT. It has 68,774 NRSF, 528 climate-controlled units, 122 non-climate-controlled units and one commercial space. Nathan Coe, Brett R. Hatcher and Gabriel Coe represented the seller and found the buyer. Susan Bands, the broker of record, helped close the transaction. 

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