SmartStop Self Storage REIT Inc., based in Ladera Ranch, CA, announced that its affiliates, Strategic Storage Trust VI Inc. and Strategic Growth Trust III purchased an eight-facility portfolio in the Greater Toronto Area, totaling about 7,400 units and 758,000 rentable square feet, for $300 million CAD. SmartShop now owns or manages 33 operating self-storage properties in Canada that add up to 3 million square feet. It is the fifth-largest operator in Canada. The facilities spread across Ontario in Toronto (East York and North York), Mississauga, Burlington, Hamilton and Vaughan (Woodbridge).
Source: BusinessWire
SecureSpace bought Northlynn Mini-Storage at 15620 Highway 99, in the Lynnwood area of Seattle, WA. It has 57,700 NRSF that includes ground-floor units and 24 rentable parking spaces. It will be renamed SecureSpace Self Storage Lynnwood and is the company’s eighth store in the Seattle MSA. Source: Globe Newswire
HPI Real Estate bought a newly built self-storage facility at 25 E. Lester Road in Apopka, FL, purchasing it at Certificate of Occupancy. It has 729 units spread across 67,850 rentable square feet. Extra Space Storage will manage the property. HPI now owns more than 1 million square feet in Florida, with more projects under construction or in development. Source: HPI Real Estate
Buchanan Street spent $41 million to purchase two self-storage facilities in Cave Creek, AZ and Mesa, AZ, near Phoenix, AZ. The Cave Creek site is at 29640 N. Tatum Blvd. The Mesa facility is at 2862 Signal Butte Road (above). This is Buchanan’s initial foray into the greater Phoenix market. Both facilities offer climate-controlled units. CBRE’s Nick Walker and Walter Brauer arranged the sale. Source: REBusinessOnline
Marcus & Millichap helped close the $6 million sale of Mountain View RV & Mini Storage, a 49,675-square-foot self-storage facility at 2086 NW Andrews Drive in Madras, OR. David Tabata, regional manager of the Portland office, helped with the transaction. Christopher Secreto and Samuel Olson from the company’s Seattle office had the listing and also represented the buyer. The sellers developed the facility, bought by an out-of-state buyer. The facility has 358 units and was built in two phases in 2020 and 2022. Source: connectcre
Skyview Advisors
SkyView Advisors, based in Tampa, FL closed on the Bogart & Watkinsville Storage Portfolio (above), with facilities located in Athens, GA and in Athens-Clarke County, GA. The three-property portfolio, operating as Rhino Mini Storage, has 149,275 NRSF across 11.33 acres. The facilities have 1,153 total units. Together, there are 27 buildings for self-storage. Athens has had a big increase in population and the projected population growth is above the national average.
SkyView Advisors also closed on Box Turtle Boat, RV and Storage in Alachua and Gainesville, both in Florida. The asset has 36,720 NRSF across 4.47 acres, with a combined 160 units and 73 uncovered parking spaces. The property has six buildings.
