Merit Hill Capital bought two self-storage facilities totaling 108,000 square feet in Auburn, CA for $21 million (below). CBRE’s Self Storage Advisory Group represented the seller. The two sites have a total of 938 units and include RV parking spaces. Source: connectcre
State Storage Group, a Beaverton, OR firm, bought two facilities for $43.5 million. The facilities are located in Palm Beach County, FL in the localities of Haverhill and Lake Worth. Source: The Real Deal
Rosemurgy Properties is building a self-storage facility in Boca Raton, FL after obtaining a $13.33 million construction loan. Southstate Bank provided the mortgage to North Boca Raton Self Storage LLC, a venture between Boca Raton-based Rosemurgy Properties and operating partner Sentry Self Storage of Coral Springs. It covers the 3.55-acre site at 7021 N. Federal Highway. Source: South Florida Business Journal
CBRE Self Storage Advisory Group arranged the sale of a $6.73 million sale of a self-storage facility in Hickory, NC. The advisory group represented the seller, Sherrills Ford Self Storage LLC. The property is located on Island Point Road by Lake Norman. It’s a growing area, with 8,077 residential units planned or under construction within five miles. The population has grown 55% since 2000. Source: CBRE
Cushman & Wakefield arranged the sale of two self-storage facilities in New York City. A REIT will manage the two, which total 111,611 square feet, with one located at 160 John St. in Brooklyn and having 84,149 square feet, and the other having 27,462 square feet at 3719 Crescent St. in Long Island City, Queens. Each facility has 2,651 units. Noah Obuchowski, Mike Mele, Robert Bloch and Luke Elliott of Cushman & Wakefield represented the seller, Kickpoint Ventures, in the deal. Invesco Real Estate purchased the two-part portfolio in partnership with Baranof Holdings. The sites’ owners have invested more than $2.6 million in recent years to make improvements in the elevator, unit mix, roof, and cosmetic and structural areas. Source: Cushman & Wakefield
Austin McLeod, vice president with Matthews Real Estate Investment Services in Scottsdale, AZ, closed two transactions. McLeod and associate Doss Allen closed the sale of an RV and self-storage facility at 5541 Interstate 45 N in Madisonville, TX, which sits on a 4.25-acre lot. Also, McLeod and Johnny Blue Craig, market leader and vice president, completed the sale of the Colonel Glenn Storage Center at 10315 Colonel Glenn Road in Little Rock, AR. Source: Matthews Real Estate Investment Services
Englewood Self Storage Center has been sold in Englewood, CO. The site has 75,495 NRSF, with 652 units on 1.4 acres. Jesse Luke of EquiCap Commercial, along with Mike Mele, Luke Elliott and Devin Beasley of Cushman & Wakefield, announced the sale. Source: EquiCap Commercial
Midcoast Properties arranged the sale of Storage Ideas of Newport, NC, located at 100 Cannon Blvd. and about 92 miles northwest of Wilmington, NC. Hal H. Tanner III of Midcoast represented the seller. It was sold to a regional buyer. Storage Ideas sits on 3.55 acres and has 336 standard and climate storage units, with 45,430 rentable square feet. Source: Market Screener
24/7 Store It bought Taylor’s Linden Mini Storage, a 265-unit, seven-building self-storage facility at 10899 Ramsey St. in Linden, NC, for $2.5 million. The deal was financed with a $1.4 million loan. It has 35,352 rentable square feet. Midcoast Properties worked on behalf of the seller, a private individual. Hal H. Tanner III worked on behalf of the seller. Source: Multi-Housing News
HPI Real Estate bought the CubeSmart site at 201 Miles Ave. in Burleson, TX (above). It has 637 units and 70,754 rentable square feet. HPI now owns seven operating facilities in Texas and plans to break ground on three more in the next 12 months. Source: HPI Real Estate
Berkshire Hathaway sold Milan Storage in Milan, IL (above). It has 27,975 NRSF with 246 units. A private owner made the purchase. Cameron Vale, Parker Sweet and Andrew Plunkett represented the seller and found the buyer.
Marcus & Millichap
Marcus & Millichap arranged the sale of East Vancouver Self Storage at 515 E. 157th Ave. in Vancouver, WA in which one LLC sold the company to another LLC for $6 million. East Vancouver Self Storage has 390 units and 42,780 square feet. Christopher Secreto of Marcus & Millichap’s Seattle office represented the seller and buyer in the deal. Source: Marcus & Millichap
The company also arranged the sale of a 24-property self-storage portfolio in Minnesota for an undisclosed price. Nathan Coe, Gabriel Coe and Brett Hatcher of Marcus & Millichap represented the seller, KO Storage, and found the buyer. The portfolio has more than 700,000 NRSF.
In addition, the company announced the sale of Storage Etc. of Etna in Ohio. It has 127 non-climate-controlled units, three climate-controlled ones and a total of 18,625 NRSF. It also has 26 parking spaces to rent. A new Amazon Fulfillment Center is nearby. Brett R. Hatcher, Gabriel Coe and Nathan Coe marketed the property for Marcus & Millichap. The seller is an individual/personal trust.
The LeClaire-Schlosser Group of Marcus & Millichap sold ROAM RV & Boat Storage, a 104,753-square-foot storage facility in Surprise, AZ, in the Phoenix market. Charles “Chico” LeClaire and Adam Schlosser had the listing on behalf of the seller, an Arizona developer. The new-construction facility has 187 climate-controlled and non-climate-controlled units, off of West Grand Avenue and West Bell Road.
