Strategic Storage Growth Trust III Inc. purchased an approximately 65,800-NRSF storage facility on 3.1 acres in Eatontown, NJ. It’s a three-story building with about 730 climate-controlled units. Merchants Retail Partners was the seller. The building previously operated under the CubeSmart brand and was completed in 2022 on the site of a former roller rink, about one-half mile from the Monmouth Mall at 97 State Route 35.

The property was recently listed for sale by Colliers for $20.8 million. The property is the fifth operating facility to be added to the SSGT III portfolio, the latest fund sponsored by Ladera Ranch, CA-based SmartStop Self Storage.

Source: Business Wire  

Weaver Realty Group, based in Jacksonville, FL, announced the sale of five Florida self-storage development projects in Q1 2023. They are located between Jacksonville and Cape Coral and have a combined total of more than 700,000 GRSF of storage. They are:

  • Gulfstream Boulevard, Port Charlotte, 2.76 acres and 141,120 GRSF.
  • North Main Street, Jacksonville, 2.78 acres and 127,840 GRSF.
  • Tamiami Trail, Fort Myers, 3.38 acres and 150,000 GRSF.
  • Enterprise Drive, Port St. Lucie, 2.08 acres and 135,900 GRSF.
  • Pine Island Drive, Cape Coral, 3.44 acres and 149,846 GRSF.

Weaver Realty has been the Argus Self Storage advisor affiliate since 1999, covering Florida and now the newly acquired South Georgia territory. Source: Argus Self Storage

Versal negotiated the sale of a portfolio of two self-storage facilities totaling 790 units in Galveston and Baytown, both in Texas. Together they’re known as the Watson & Taylor Portfolio, and have a total of 104,830 NRSF. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the Texas-based seller in the deal, and also found the buyer, New York-based owner-operator Andover Properties, known for its Storage King USA brand. Source: REBusiness Online

Marcus & Millichap announced the sale of Self-Store-It, an 18,745-NRSF self-storage facility in Cheshire, CT. Nathan Coe, Brett R. Hatcher and Gabriel Coe had the listing. John Krueger, Connecticut broker of record, helped close the transaction. The seller is an LLC. The facility is about 19 miles southwest of Hartford, in Cheshire. It was built in 2014 and opened for business in December 2021. It has 273 climate-controlled units. Source: Market Screener

Bruce Goldberg