Sold! Bluebird enters B.C. with historic purchase

Bruce Goldberg
January 12, 2023

Bluebird Self Storage purchased one of the oldest storage facilities in North America as its first location in Victoria, British Columbia, Canada. The four-story, 16,000-square-foot City Center Storage building at 824 Johnson St. was constructed in 1901. Originally, it boarded horses, and a freight elevator took them to the upper floors. It’s been a storage facility since 1920. Bluebird now operates facilities in B.C., Alberta, Ontario, Quebec, New Brunswick and Nova Scotia. Source: Western Investor

AAA Storage Management 27 LLC, an affiliate of AAA Self Storage, purchased a Greensboro, NC storage campus for $4.04 million. It includes two lots: a 2.03-acre tract at 3700-A Battleground Road and a 1.77-acre tract at 3704 Old Battleground. Battleground Storage LLC of Greensboro is the seller. The facility is AAA Self Storage’s ninth in Greensboro. It has five in High Point, two in Kernersville and one each in Browns Summit, Clemmons, Jamestown, Thomasville and Winston-Salem. Source: Winston-Salem Journal

LPP Winston-Salem LLC, an affiliate of the Protective Center of Birmingham, AL, purchased the Shields Road Self Storage facility at 1321 Shields Road in Kernersville, NC for $7.2 million. TLA Self Storage LLC of Kernersville is the seller. The site has 4.33 acres and 74,800 square feet of storage space. Source: Winston-Salem Journal

Andover Properties purchased Move-It Storage, 8500 Lyndon B. Johnson Freeway in Dallas, TX. from National Storage Affiliates. The facility has 50,250 rentable square feet. Andover plans to make improvements, including unit conversions. It will have 322 units and operate as Storage King USA. It has nine buildings on 3.4 acres. Recently, Andover and Angelo Gordon and Co. garnered $360 million in financing for a national self-storage portfolio, totaling 3.9 million square feet. Source: ConnectCRE

Argus Self Storage Advisors

Matt Haugen, Alex Ihrke and Tom Flannigan, who are the Iowa, Minnesota and North Dakota broker affiliates of Denver, CO-based Argus Self Storage Advisors, announced the sale of Eastside Storage in Kalona, IA. They represented the seller and found the buyer, a local operator. Eastside has 23,000 rentable square feet and 148 units of drive-up and temperature-controlled self-storage. It finished a 3,600-square-foot expansion in December 2021.

Bruce Bahrmasel, Argus Self Storage Advisors broker-affiliate representing Northern Illinois and Wisconsin, announced the sale of Captain Hook’s Self Storage in Zion, IL. It has 74 units plus five spaces for boats and RVs. The total square footage is 49,380. Source: Argus Self Storge Advisors 

Absolute Storage Management

The Nuveen Group purchased a former CubeSmart Self Storage in Sugar Land, TX and renamed it as MyPlace Self Storage. It’s located at 15025 Voss Road and has 791 units spread across 93,915 rentable square feet. Absolute Storage Management will manage the facility.   

In Mississippi, Absolute Storage Management will manage Safe Space Storage Gulfport, formerly Budget Storage. Ronald Frieman and Chris Genard of Safe Space Storage Gulfport bought the facility. Frieman General Contractors redeveloped the site. It has 172 units totaling 20,350 square feet, and expansion is planned. Budget Storage was a storage facility until 2010, then was purchased and used for business storage. The property has 2.5 acres.

Marcus & Millichap

Marcus & Millichap Real Estate Investment Services Inc. announced the sale of Bill’s U-Store, a 64,440-square-foot facility in Hazelwood, MO. It has 489 non-climate-controlled units. George R. Kondracke, Brian Kelly, Brett R. Hatcher and Gabriel Coe had the listing. An LLC was the seller and the buyer is from out of state. David Saverin, Missouri broker of record, helped close the transaction.

Also, Marcus & Millichap announced the sale of K&D Storage in Leander, TX. It has 9,650 square feet. Arol Horkavy and Jon Danklefs, investment specialists in the Austin, TX and San Antonio, TX offices, had the listing. The seller is an individual/personal trust. Horkavy and Danklefs also secured the buyer, Montfort Capital Partners, which has bought 10 self-storage assets in Texas. MCP plans to redevelop the site into a multistory self-storage facility.

The Patton | Wiles | Fuller Group of Marcus & Millichap announced the sale of Eaton Center at 1603 N. Barron St. in Eaton, OH, in the Cincinnati metropolitan area. It has 130,483 square feet. The group’s CJ Jackson, first vice president, and Erin Patton, senior managing director, plus senior managing directors Scott Wiles and Craig Fuller of Marcus & Millichap’s Cleveland office, marketed the property on behalf of the seller, a Cincinnati-based private ownership group, and found the out-of-state fund that bought the property.

Marcus & Millichap announced the sale of Stuff Hotel at 2820 Virginia Circle in Denton, TX. Brandon Karr, Jon Danklefs and Danny Cunningham had the listing to market the property for the seller, an LLC. Danklefs found the buyer, also an LLC. Stuff Hotel has 440 units.

Versal

Versal announced the Dec. 31 sale of Storage Sense in Dayton, OH. The 561-unit facility was converted for a single tenant retail shopping center (above). It has 65,495 NRSF. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Cobblestone Capital 20-105 LLC, a Delaware LLC. The team also found the buyer, Amerco Real Estate Co., based in Nevada, and it was an off-market transaction. Versal is based in Austin, TX and Los Angeles, CA.

Versal also announced the sale of FM 812 Storage at 2108 Cielo Vista Drive in Del Valle, TX, in the Austin, TX MSA. It has 257 units and four parking spaces, spread across 43,250 NRSF. The facility was built in 2017 and was 85% occupied at closing. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal found the buyer, ATX FM 812 Storage LLP, a family partnership.

In addition, Versal announced the sale of Big League Storage at 26526 in Magnolia, TX, a suburb of Houston.  It has 22,800 NRSF as well as 99 drive-up non-climate-controlled units and 30 drive-up, climate-controlled ones. Big League Storage was built in 2017. The business is just off FM 2978 with proximity to Woodlands Parkway, TX-249 and Grand Parkway TX-99.

Versal also announced the closing of Cen-Tex RV & Boat Storage at 10349 Paddy Hamilton, Belton, TX, about 60 miles north of Austin. It has 354 units spread across 173,793 rentable square feet. It was built in 2020 and has 98% occupancy. Expansion is a possibility, as the previous owner had mapped out the addition of open-air parking spaces.

Versal announced the sale of Saginaw Self-Storage in Saginaw, TX, a Fort Worth suburb. It has 32 non-climate-controlled units, each being 112 square feet, with a total of 3,584 NRSF. Versal’s Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne  represented Star Platinum LLC, the Dallas, TX-based seller. The team also procured the Dallas-based buyer, Lambada Real Estate Holdings LLC. The occupancy was near 0% and the previous ownership used the storage space for a separate business.

Versal also announced the sale of a self-storage facility about 12 miles from downtown Dallas, TX, at 8500 LBJ Freeway. It has 322 non-climate-controlled units, more than 50,244 NRSF and seven outdoor parking spots. It’s located off Interstate 636/LBJ Freeway and 2.1 miles from US-75. There are 161,621 people within three miles.

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