Invesco Real Estate Income Trust Inc. purchased two self-storage portfolio buys of five properties in Bend, OR and Clarksville, TN. The combined purchase price was $42 million, raising INREIT’s self-storage portfolio to over $128 million.
INREIT acquired two single-story, drive-up self-storage properties located within a mile of each other in Bend, totaling 62,805 square feet across 674 units:
- 20230 Powers Road is a 49,523-square-foot, 550-unit property located in a commercial district.
- 345 Cleveland Ave. is a 13,282-square-foot, 124-unit facility in the commercial district.
For the Clarksville buy, INREIT acquired three single-story, drive-up self-storage properties totaling 204,425 square feet across 1,347 units:
- 1280 Parkway Place is a 67,350-square-foot, 505-unit facility in a residential area.
- 4351 Guthrie Highway is an 80,275-square-foot, 471-unit facility close to the Kentucky border.
- 117 Old Excell Road is a 56,800-square-foot, 371-unit facility near new residential developments. Source: PR Newswire
Shibber Khan’s Criterion Group of Queens, NY sold a self-storage facility at 31-08 Northern Blvd., Long Island City, NY to the Carlyle Group for $80 million (below). The commercial condo unit covers 180,000 square feet, taking up part of the building’s first floor and all the remaining floors. Public Storage manages the facility. Criterion bought the development site in 2015 from Joel Gluck for $40 million. Source: The Real Deal
Matthews Real Estate Investment Services brokered the sale of a 530-unit self-storage facility at 785 County Road 61 in Florence, AL. Associate Hunter Reynolds, Vice President Austin McLeod and Johnny Blue Craig, market leader and vice president, represented the seller in the sale. Kyle Matthews served as broker of record and found the buyer, a top-30 self-storage owner-operator in the United states. Source: Matthews Real Estate Investment Services
SecureSpace Self Storage purchased a three-story facility at…
