10 Federal had a very busy Feb. 17th. That day, the 10 Federal Self Storage Acquisition Company 1 LLC sold the remaining eight properties in its first investment fund to Frigatebird Investments, finishing the liquidation of all remaining self-storage assets. The company also sold from its other investment funds four Georgia locations to Frigatebird and one South Carolina property. 10 Federal also expanded its most recent offering, 10FSSAC3, from $30 million to $45 million. 10 Federal acquires and converts self-storage facilities into unmanned, automated operations. Frigatebird is led by Kurt O’Brien, founder and former CEO of Simply Self Storage. Source: PR Newswire
A Florida self-storage facility has sold for $23 million. CLC HBFL I LLC, in care of Bala Cynwyd, PA-based City Line Capital, sold a 136,591-square-foot site at 450 Ansin Blvd. in Hallandale to Boundary Ansin LLC, in care of Bethesda, MD-based Boundary Cos., a commercial real estate investment fund. Seacoast National Bank provided a $16.45 million mortgage to the buyer The price was $168 a square foot. The single-floor property last traded for $13.45 million. The buildings were developed in 1979 on an 8.4-acre site. Source: South Florida Business Journal
Jeff Gordon of KW Commercial represented the buyer as he arranged the sale of a self-storage facility in Yuma, AZ. The three-acre property sold on Feb. 14. Gordon is the Arizona and Nevada Broker Affiliate of Denver, CO-based Argus Self Storage Advisors. Source: Argus Self Storage Advisors
Meridian Storage Group, based in St Petersburg, FL, announced the sale of SecureStore in Dalevile, VA, which is in the Roanoke MSA. The facility was built in 2021 and has 55,650 NRSF among 483 units in two stories. Meridian President Patrick Kidder represented the seller, a developer, and also found the purchaser, a national operator. Source: Meridian Storage Group
Scott Rihm and Jesse Luke of EquiCap Commercial announced the sale of Mor-In Storage, 2260 Woodale Ave. in Green Bay, WI. It has 310 units in 91,320 NRSF on 6.99 acres in three locations. The seller is a local operator; the buyer is a local owner-operator. Source: EquiCap Commercial
Kane Self Storage Inc. which has been in business for 30 years, sold its 1-acre property at 850 Boston Post Road in Marlborough, MA to Suciu LLC, a Boston-based moving company, for $1.57 million. The facility has 136 storage units in an 18,800-square-foot property. The buyer is registered to Alexe Suciu, owner of Exela Movers in Boston. Kane still operates at 55 Maple St. in Marlborough. It sold another storage facility in fall 2019 for $7 million. Source: Worcester Business Journal
Marcus & Millichap announced the sale of Premier Storage of Zanesville (OH), located about 50 miles east of Columbus, OH. It has 102 non-climate-controlled units spread over 14,400 NRSF. Nathan Coe, Brett R. Hatcher and Gabriel Coe had the listing. Source: Marcus & Millichap
Skyview Advisors
SkyView Advisors, based in Tampa, FL, announced the sale of the Tampa Bay Self-Storage Portfolio, comprised of two properties (one at 5907 W. Linebaugh Ave., Tampa and the other at 12225 N. 56th St. in Temple Terrace, FL). The portfolio has 890 units and 101,635 NRSF across 8.35 acres. New York City-based Merit Hill Capital is the buyer. Both properties have expansion opportunities.
SkyView Advisors also arranged the purchase of Harmar Storage Solutions in Pittsburgh, PA. It has 408 units across 49,055 NRSF, and is about 25 miles from the center of Downtown Pittsburgh. Public Storage is the buyer.
