Pinnacle Storage Properties, based in Katy, TX, bought six self-storage properties in southeastern New Mexico in the cities of Carlsbad, Artesia and Eunice. The properties formerly were known as VIP Self Storage of Carlsbad. They are located at:
- 4615 National Park Highway in Carlsbad
- 1401 Avenue O in Eunice
- 13th and Avenue G in Eunice
- 607 W. Texas St. in Artesia
- 706 Chisom St. in Artesia
- 1010 Roselawn St. in Artesia.
They combine for 104,675 NRSF, 801 units and three rental homes. There are 157 interior units; 513 drive-up, non-climate-controlled units; 97 outside parking spaces and 34 RV parking spaces. The site sits on 9.934 acres.
Source: Pinnacle Storage Properties
Talonvest Capital Inc. represented Madison Capital Group Inc. in creating a $23.17 million loan for the purchase of a newly completed self-storage facility in Quincy, MA, about 15 minutes south of Boston. The facility has 103,562 NRSF spread across 1,351 climate-controlled units. The Talonvest team that worked on this transaction included Kim Bishop, Eric Snyder, Mason Brusseau and Thalia Tovar. Talonvest, based in Irvine, CA, is a self-storage and commercial real estate advisory firm. Source: Talonvest Capital Inc.
Valley Storage bought self-storage facilities in North Carolina. They opened March 23 in Rockingham, NC on Fayetteville Road and Rockingham Road. They formerly were America’s Storage Space. Combined, they have 368 units, mostly outdoor units with drive-up entry. Also, the Fayetteville Road facility has indoor, temperature-controlled units. Valley Storage now has 48 facilities across seven states: Maryland, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia and West Virginia. Source: Storage Asset Management
Andover Properties (dba Storage King USA) bought Alameda Storage in Denver, CO. It has 74,000 NRSF and is located along Alameda Avenue, which gets more than 37,000 vehicles daily. New York City-based Storage King now has 129 facilities in 16 states nationwide. Source: Andover Properties
Compass Self Storage, which belongs to the Amsdell family of companies based in Cleveland, OH, bought two properties: Compass Self Storage, 400 George Washington Highway, Smithfield, RI; and Compass Boat & RV Storage, 2175 E. State Road 44 in Wildwood, FL. The latter has 223 parking spaces for boat, auto and RV storage. Source: Compass Self Storage
Storage Post Self Storage bought a new ground-up self-storage facility with climate-controlled units at 600 Richmond Terrace on Staten Island, NY. New York Storage Post-North Shore Staten Island has 148,000 square feet. It is Storage Post’s 27th facility in the New York MSA. Source: Storage Post Self Storage
Marcus & Millichap
The LeClaire-Schlosser Group of Marcus & Millichap announced the sale of Utah Valley Storage and RV in Orem, UT. Jordan Farrer and Adam Schlosser represented the seller and found the buyer, a national self-storage operator. The facility, on the border of Orem and Vineyard, has 291 units. It’s close to Brigham Young University and Utah Valley University. The two schools combined have more than 70,000 students.
Also, Marcus & Millichap announced the sale of Rosemount Self Storage, a 23,000-square-foot facility at 3368 US-23 in Portsmouth, OH. Sean M. Delaney and H. Paul Robertson had the listing. The seller is a private investor. Delaney also found the buyer, an LLC. The facility has 178 non-climate-controlled units. Michael Glass, broker of record, helped close the transaction.
In addition, Marcus & Millichap announced the sale of Ace Self Storage at 2400 Franklin Road in Lawrence, KS, about 2.5 miles from the University of Kansas. It has 236 non-climate-controlled units, 53 outdoor parking spaces, eight retail spaces and one apartment. Sean M. Delaney and Robert Cook, who are investment specialists in the company’s Chicago Oak Brook office, had the listing and found the buyer as well. Colby Haugness, broker of record, helped close the transaction. The buyer and seller were both LLCs.
In addition, Marcus & Millichap announced the sale of Scenic Self Storage at 3030 Scenic Blvd. in Littlefield, AZ. It has 34,845 square feet. Sean M. Delaney and Robert Cook had the listing. Adam Schlosser, Charles LeClaire and Jordan Farrer found the buyer. Ryan Sarbinoff, broker of record, helped close the transaction. The seller is a private investor.
Marcus & Millichap also brokered the sale of a portfolio of three Tri-Village Self Storage facilities in Ohio. With a total of 1,653 units across 237,189 square feet, the properties are at 3490 Trabue Road in Columbus, 1123 Goodale Blvd. in Columbus and 5235 Avery Run Road in Dublin. Gabriel Coe and Brett Hatcher brokered the transaction. Go Store It Partners will manage the properties, which Brexton sold. Madison bought the facilities with a $22.8 million loan from Ready Capital.
Sources: REBusiness Online and Multi-Housing News