KKR bought three self-storage properties in three states, totaling about 2,000 units, for $70 million in three transactions. The properties are in Atlanta, GA; St Petersburg, FL; and Alexandria, VA. The buys were KKR’s first self-storage real estate acquisitions in the St. Petersburg and Washington, D.C. areas. KKR’s Americas did the purchases through its equity real estate fund, KKR Real Estate Partners Americas III. Source: Business Wire
Atlanta, GA-based Space Shop Self Storage sold two self-storage portfolios with a total of nine properties for a combined $137 million to Salt Lake City, UT-based Extra Space Storage. The properties are in Georgia, South Carolina and North Carolina. The first portfolio includes five properties, including a 75,000-square-foot facility in Covington, GA; three Charleston, SC properties totaling 175,000 square feet; and a 75,000-square-foot facility in Cary, NC. The first portfolio sold for $55 million, or an average of $183 per square foot. The second portfolio included four facilities in metro Atlanta totaling 300,250 square feet, in downtown Atlanta, the Buckhead district, Chamblee and Cumming. The portfolio traded for $82 million. Source: REBusiness Online
Skyview Advisors, based in Tampa, FL, announced the sale of Holly Hill Self Storage in Alexandria, VA (pictured at top). David Zehendner and Ryan Clark represented the seller in the transaction. The property moved fast, going from under contract to closed in under one month. It has 544 units across 51,280 rentable square feet and an expansion of two stories is a possibility. There are more than 325,000 residents within five miles of the facility, and the median household income tops $109,000 annually.
Personal Mini Storage, based in Orlando, FL, bought its 47th location, the Stor-All Self Storage facility at 13701 NW US Highway 441 in Alachua, FL, near Gainesville. It has more than 240 air-conditioned and non-air-conditioned units. It also has large-vehicle parking and U-Haul truck rentals. The facility will be operated and managed remotely from the Personal Mini Storage office at 8825 NW13th St. in Gainesville. Laurie and Marc Smith operate Personal Mini Storage. The company became a Participating Regional Operator of National Storage Affiliates Trust and manages 11 properties under that partnership.
Meridian Storage Group
All Aboard Storage, Flagler Beach, FL, with 56,625 NRSF across 339 units. Patrick Kidder, president of Meridian Storage Group, represented the seller, a regional operator, and found the buyer, a large private operator.
Main Gate Storage in Hinesville, GA, with 47,847 NRSF and 365 units. Taylor Dooley, senior associate, and Kidder represented the seller, a private individual, and found the buyer, a regional operator.
56 Storage in Dover, NH, with 44,619 NRSF across 619 units. Kidder and Ken DeVaul, senior associate at Meridian, found the seller, a private owner, and the buyer, a large private owner.
Drop It and Lock It 5 Property Portfolio in Victoria, TX, with 166,456 NRSF among 1,280 units. Kidder and DeVaul represented the seller, a private owner, and found the buyer, a large private owner.
Shannon Mini Storage in Union City, GA, with 51,252 NRSF among 439 units. Kidder presented the seller and found the buyer, a large operator.
InSite Property Group
InSite Property Group acquired Storage Maxx at 1496 Old Dixie Highway in the Miami, FL suburb of Homestead. InSite’s management firm will operate the site and it will be rebranded as SecureSpace Homestead. It has 42,210 square feet in a three-story climate-controlled building, several one-story buildings with drive-up and interior units, and a 2.2-acre rentable parking area.
InSite Property Group also bought American Storage at 1770 Mayport Road in Atlantic Beach, FL, a suburb of Jacksonville. It will be rebranded as Secure Space Atlantic Beach. The facility has 49,331 square feet spread across 14 single-story buildings, with 504 drive-up units and 39 rentable parking spaces. Source: Globe Newswire
Andover Properties (dba Storage King USA) has bought Crossroads Self Storage, which has 89,000 rentable square feet at 15745 Wellborn Road in College Station, TX. The space takes up 8.6 acres. It has 875 units across eight buildings, built in two phases in 2017 and 2020. There are both climate-controlled and non-climate-controlled units. The space also has 18,000 square feet of open RV and boat parking.
Andover Properties also recently bought a 76,000-square-foot self-storage facility in Garland, TX, its fifth acquisition in Garland in less than one year. The facility was built in 2018 and formerly was managed by CubeSmart. It will be rebranded as Storage King USA.
Marcus & Millichap
Marcus & Millichap announced the sale of Budget Self Storage in Bridgeport, CT, about 45 miles northeast of New York City. It has 36,697 square feet spread across 381 non-climate-controlled units, one retail tenant and a vacant space. Nathan Coe, Brett R. Hatcher and Gabriel Coe, investment specialists in Marcus & Millichap’s Columbus, OH office, had the listing. Susan Bands, Connecticut broker of record, helped close the transaction.
Marcus & Millichap also announced the sale of Walter Hill Storage in Murfreesboro, TN, about 30 miles southeast of Nashville. Gabriel Coe and Brett R. Hatcher, had the listing and also found the buyer. Jody McKibben, Tennessee broker of record, helped close the transaction. The facility has 45,350 square feet across 273 non-climate-controlled units, four offices and two apartments, totaling 45,350 NRSF, plus 82 parking spaces to rent.
In addition, Marcus & Millichap announced the sale of Goffstown Back Road Self Storage in Goffstown, NH. Na than Coe, Brett R. Hatcher and Gabriel Coe had the listing Thoams Shihadeh, broker of record, helped close the deal. The facility is about 55 miles northwest of Boston. It has 380 non-climate-controlled units and 71 climate-controlled units, totaling 65,7000 NRSF.