SmartStop Self Storage REIT Inc. bought a self-storage facility at 1910 E. Algonquin Road, in Algonquin, IL. It’s SmartStop’s sixth owned or managed location in the Chicago market and 163rd in North America. It has 900 units spanning 109,000 feet and offers both climate-controlled and non-climate-controlled units. Source: Business Wire
Go For It Storage purchased a 101,213-square-foot Total Storage business at Dallas Hollow Road and Hixson Pike in Lakesite, TN, for $9 million from a Charlotte, NC-based storage company. The 4.9-acre site includes 13 concrete and metal buildings. Southeast Storage first bought the Lakesite complex at the end of 2020, about a year before the recent transaction. Source: Chattanooga Times Free Press
Andover Properties (dba Storage King) purchased Crossroads Self Storage in College Station, TX. The facility has 89,000 square feet across 875 units, the majority of which are climate-controlled, plus 18,000 square feet of open parking.
Jesse Luke of EquiCap Commercial and Stanley Stein of JDS Real Estate Services Inc. and Ohio broker of record, announced the closing of Toledo Self Storage (above), 6115 Telegraph Road in Toledo, OH, which has 38,000 NRSF across 380 units on 11.63 acres.
Also, Scott Rihm and Jesse Luke of EquiCap Commercial announced the closing of Algoma Self Storage at 1600 Mueller St. in Algoma, WI. It has 14,950 NRSF, with 94 units on 1.33 acres.
Marcus & Millichap
Marcus & Millichap sold two self-storage properties in Sevierville, TN. They sold for a combined $2.5 million: 2635 Dolly Parton Highway, built in 2016, has 108 units; 1315 Dolly Parton Highway, built in 2018, has 119 units. Wendy Davis had the listing from the seller, a developer, and also found the buyer, a New Jersey-based partnership.
Also, Marcus & Millichap Real Estate Investment Services of Florida Inc. announced the sale of Swift Self Storage, a 65,700-square-foot facility in Bradenton, FL. Meir D. Perlmuter, Nathan Coe, Brett R. Hatcher and Gabriel Coe, investment specialists in the company’s Columbus, OH office, had the listing and also found the buyer. Ryan Nee, Florida broker of record, helped close the transaction. Swift Self Storage, about eight miles from Sarasota, had 873 climate-controlled units totaling 65,700 NRSF. It opened in January 2021.
In addition, the LeClaire-Schlosser Group of Marcus & Millichap arranged the sale of CubeSmart Self Storage (managed) in the Clear Lake area of southeast Houston, TX. The two-story facility has 802 climate-controlled units across 93,715 square feet, sitting on 3.5 acres. The brick façade facility originally was an office building built in 1985. It was converted to storage in 2018. Dave Knobler, senior vice president investments in Marcus & Millichap’s Houston office, and Charles LeClaire, executive managing director investments in the Denver, CO office, had the listing. The seller is a Texas-based LLC.
The LeClaire-Schlosser Group also arranged the sale of Karam Self Storage in Galveston, TX. Dave Knobler and Charles LeClaire had the listing. The seller is a Texas-based LLC. The facility has 47,080 square feet across 439 climate-controlled units and Events @ The Tasting Room, which takes up about 13,000 square feet. The site previously housed the historic Fallstaff Brewery built in 1905. It was converted to storage in October 2019.
Also, Marcus & Millichap announced the sale of Drake Storage in Giddings, TX. It has 61,250 square feet and sits on 8.36 acres, with 94 climate-controlled units and 210 non-climate-controlled units. There are 3.7 acres of unused land that could be used for expansion. There’s also a satellite property with 76 non-climate-controlled units.
Source: Marcus & Millichap