Utah’s largest self-storage facility has traded hands. Storage General Cedar, located in Cedar City, spans more than 456,758 square feet and has 2,133 units.
The LeClaire-Schlosser Group of Marcus & Millichap arranged the sale, representing both buyer and seller. Brokers Jordan Farrer and Adam Schlosser had the assignment. The seller, an unidentified private equity group, purchased the property in 2020 from the original developer and instituted a more professional management structure that increased rates and revenue. The facility includes storage and parking for RVs, boats and trailers. It also has commercial shops for rent. Storage General Cedar is located four minutes from the on- and off-ramps for I-15.
The LeClair-Schlosser group also arranged the sale of Space City Self Storage, a 400-unit facility 10 miles south of downtown Houston. It has nine buildings and houses 225 non-climate-controlled units and 175 climate-controlled units for a total of 5,545 NRSF. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a Houston, TX-based LLC. The duo also found the buyer, an Arizona-based REIT. Source: Marcus & Millichap
SkyView Advisors, based in Tampa, FL, closed a deal on West Lake Self Storage, a 41,050-NRSF facility in the Charlotte, NC area. It sits on 2.6 acres and has 208 units spread across three buildings. Managing Director Scott Schoettlin, Codey Dalton and David Capece led the closing. Skyview said the population growth in a three-mile radius is more than nine times higher than the national average. Source: Skyview Advisors
Moove In Self Storage purchased Storage Sense, 2517 Sycamore St. in Swatara Township in Harrisburg, PA for $7.8 million on April 21. Volant Development Co. was the seller. The facility will go by the name Moove In Sycamore. It has seven drive-up buildings; one single-story, climate-controlled building and one office building with drive-up units in the back, totaling 461 units. Moove In Self Storage is based in York, PA and has more than 60 self-storage facilities in Pennsylvania, Maryland, New Jersey, New York, Connecticut, Massachusets and Iowa.
Source: Penn Live
