Liberty Investment Properties, based in Orlando, FL, raised more than $43 million in equity for its Liberty Storage Fund II to buy self-storage facilities in the Southeast region of the United States. The new fund has bought 10 self-storage assets to date and is working with the StoreEase Virtual Management platform to operate them remotely.  

Franklin Street arranged the sale of a 104-unit self-storage facility totaling 12,600 NRSF at 1090 Walnut St. in Watseka, IL, about 60 miles east of Champaign. The sales price was not disclosed. Frank DeSalvo and David Perlleshi of Franklin represented the seller, Houston, TX-based Pebble Ridge Capital. The buyer is Just Simple Storage in Wisconsin. Source: REBusiness Online

U-Haul purchased a 91,096-square-foot self-storage facility at 2590 Hubbell Ave. in Des Moines, IA. Southwestern Property Corp. sold it for $5.7 million. CubeSmart formerly managed the 8.9-acre property, which was completed in 2022. The facility is one-story high and has 688 indoor climate-controlled units. Source: Multi-Housing News

18301 N. Tamiami Trail in North Fort Myers, FL

Strategic Storage Growth Trust III, which is sponsored by an affiliate of SmartShop Self Storage REIT, based in Maryland, paid $15.7 million to purchase a 78,000-square-foot storage facility at 18301 N. Tamiami Trail in North Fort Myers, FL. It is the company’s 33rd Florida location and has 780 units. It was built as a single-tenant warehouse in 1955 and converted to storage in October. SmartShop Storage owns or manages 183 properties with a total of 127,600 units and 14.5 million rentable square feet spread across 22 states and Canada. Source: Business Observer

Argus Self Storage Advisors’ Stuart P. LaGroue Sr. and Bill Barnhill represented the sellers of Class A Storage, located in Elberta, AL, to A-Affordable Boat & RV Storage, a Teas company, which paid $1,855,000. The facility has 98 climate-controlled units totaling 11,250 rentable square feet, and 37 open boat and RV parking spaces totaling 19,800 RSF. The facility is on a 16.14-acre site. The deal closed on April 13. LaGroue Sr. and Barnhill are the Gulf Coast region broker affiliates of Denver, CO-based Argus Self Storage Advisors.
Bruce Goldberg