Sold! Wentworth Property Co. buys Atlanta portfolio for $43.5M

Bruce Goldberg
Published May 11, 2023

Wentworth Property Co. purchased a three-property self-storage portfolio that has 1,912 units in the Atlanta, GA MSA for $43.5 million. CBRE’s Self Storage Advisory Group represented the seller, a private investor that operated facilities under the name Gwinnett Self Storage. The buyer was not represented. The portfolio properties include 2600 Lawrenceville Highway and 1475 Grayson Highway, both in Lawrenceville, GA, and 3950 Five Forks Trickum Road in Lilburn, GA. Together, they have 242,500 square feet of self-storage.

Source: CBRE

York RE Capital Partners and their institutional JV equity partner bought a Naples, FL storage property at certificate of occupancy and a recently delivered Venice, FL storage facility.  The acquisitions were funded by a $24,685,000 bridge loan arranged by Talonvest Capital. The loan was provided by a wholly owned bank subsidiary of an investment bank based on the East Coast. The Talonvest team that handled this transaction includes Britt Taylor, Jim Davies, Ivan Viramontes, Tom Sherlock and Lauren Maehler. The properties have a combined167,126 NRSF in almost 1,700-climate-controlled units. Source: Talonvest Capital

Strategic Storage Trust VI Inc., based in Ladera Ranch, CA, is buying its first self-storage property at 1615 Franklin St. in Vancouver, British Columbia, Canada (above). The newly built facility has seven stories and features about 350 interior climate-controlled units. When fully built out, it’ll have about 60,500 NRSF and have about 890 climate-controlled units. The facility will be branded under the SmartStop Self Storage umbrella, which owns or manages 26 properties in Canada. Source: Businesswire 

Matthews Real Estate Investment Services, based in Nashville, TN, finished the $16.8 million purchase of a Life Storage facility at 2119 W. Hillsborough Ave., Tampa, FL. Shane Avera, associate vice president; Maxx Bauman, market leader and Bill Pedersen, managing director, worked with the buyer in this transaction. A Florida-based storage developer sold the property off-market, and the buyer, a California-based investor group, bought the asset in a 1031 exchange. The Hillsborough site was built in 2021 and has five buildings across 1.73 acres. The property, which has 65,939 NRSF, was sold off-market. Life Storage has more than 1,100 facilities in 37 states.

 

Reliant Real Estate Management purchased the self-storage facility located at 1448 Blue Ridge Blvd. in Seneca, SC. (above) The facility, formerly Take Cover RV Boat and Mini Storage, features 125,722 NRSF, 84 uncovered parking spaces, 337 covered parking spaces and 167 climate-controlled units. Cameron Vale and Parker Sweet of Berkshire Hathaway Commercial Real Estate arranged the transaction. 

The LeClaire-Schlosser Group of Marcus & Millichap announced the sale of Purely Portfolio, a seven-property self-storage portfolio in five cities in southeast Texas. In total, the asset has 2,627 units and 389,501 NRSF. Dave Knobler and Charles LeClaire had the listing and also found the buyer, a North Carolina-based LLC. The seller is a California-based LLC. The portfolio has locations at 6045 College St. and 210 Interstate 10 South in Beaumont, 110/210 Tenney St. in Bridge City and 603 Foreman Road in Orange.

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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