Sold! Weekly Self-Storage News Round Up 4.6.22

Bruce Goldberg
Published April 6, 2022

Andover Properties (dba Storage King USA) purchased a 197,000-square-foot self-storage facility in Argyle, TX with drive-up and climate-controlled units. It also has covered and enclosed RV parking, and open parking. The facility is Andover’s 16th asset in the Dallas-Fort Worth area. The property already has expanded twice. Storage King USA now has 129 facilities in 16 states.

HPI Real Estate bought a CubeSmart facility with three stories and 953 climate-controlled units at 9135 Herlong Road in Jacksonville, FL. The store opened in 2021 and has 141,508 NRSF. HPI now owns eight sites in Florida and will break ground on four more this year.

Las Vegas II Mini U Storage LLC bought a multistory self-storage facility at 3925 S. Buffalo Drive, Las Vegas, NV. It’s located in the Spring Valley neighborhood about five miles from the Las Vegas strip. Devin Beasley and Luke Elliott of Cushman & Wakefield brokered the deal. This is Dahn Corp.’s second property in Las Vegas. It has 598 units, including RV parking spaces, and more than 67,000 square feet of rentable space. Renovations are planned to add rentable space plus climate-controlled units. Dahn Corp. is based in Newport Beach, CA. 

Trojan Storage of Glendale, CA purchased Foothill Vineyard Storage at 1550 Vineyard Road in Roseville, CA from a private seller. It has 68,950 square feet of drive-up storage and 32,880 square feet of outdoor RV parking. It is Trojan Storage’s sixth property in the Sacramento, CA MSA. 

Storage Post Self Storage, Linden, NJ 07036

Storage Post Self Storage made its eighth self-storage property purchase when it bought a recently renovated (2019) facility in south Linden, NJ. Storage Post-Linden South is at 1051 Edward St. It has 107,000 square feet and climate-controlled units. Storage Post-Linden south becomes Storage Post’s 28th property in the New York City MSA.  Source: PR Newswire 

Midcoast Properties announced the sale of American Self Storage at 14396 Lillington Highway in Spring Lake, NC, about 10 miles north of Fort Bragg Army base on Highway 210 and 13 miles north of Fayetteville, NC. Hal H. Tanner III of Midcoast represented the seller. The buyer is from out of state. The facility sits on 5.09-plus acres. It has 477 standard drive-up units plus parking for RVs, boats and vehicles. Source: Midcoast Properties

SecureSpace purchased Stadium Storage at 8407 Broadway Ave. in Everett, WA. The four-story building has 32,661 square feet of climate-controlled units and 79 rentable parking spots. Expansion is planned. The site will be rebranded as SecureSpace Everett. Source: GlobeNewswire

Marcus & Millichap

Marcus & Millichap announced the sale of Woodstown Mini Storage at 231 E. Lake Road in Pilesgrove, NJ. The 22,480-square-foot facility sold for $2.5 million. It has 188 drive-up units and 36 outdoor parking spaces. Matthew Junkin, an investment specialist in Marcus & Millichap’s King of Prussia, PA office, had the listing and found the buyer, an LLC. Brian C. Hosey, broker of record in New Jersey, helped close the transaction.    

Also, Marcus & Millichap Real Estate Investment Services of Atlanta Inc., announced the sale of the CubeSmart-managed self-storage facility at 235-GA-314 in Fayetteville, GA. It was a new-build development that opened in April 2021. Nathan Coe, Brett Hatcher and Gabriel Coe had the listing and found the buyer. John Leonard, Georgia broker of record, helped close the  transaction.

SkyView Advisors

SkyView Advisor, based in Tampa, FL, has closed the Louisiana Self-Storage Portfolio, comprised of two Baton Rouge Mini Storage facilities: (Greenwell Springs Road, $3.1 million and on Airline Highway ($5.7 million). They have a combined 970 units across 126,180 NRSF, with room for growth. Investment Firm  Merit Hill Capital is the buyer. Scott Schoettlin represented the seller, Utah’s Tunbridge Peak. Source: SkyView Advisors and Greater Baton Route Business Report

SkyView Advisors also announced the sale of a two-story Public Storage (managed) building at 1051 Edward St. in Linden, NJ. 

Bruce Goldberg

Bruce Goldberg is a freelance writer and editor based in Denver. He worked in newspapers and magazines as both a business writer/editor and sportswriter/editor for 35 years.

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