Limited liability companies led by Arkansas-based businessmen Patrick Byrd and Alex Baumeister purchased an 11-property portfolio of self-storage facilities in Green Bay, WI for $34.2 million. The Lok Safe Storage portfolio spans a total of 475,141 square feet. The investment group also owns five self-storage facilities in Sheboygan, WI. Butch Gurgunas, president and co-founder of Focus Commercial Real Estate, represented the buyers in the transaction. Marcus & Millichap closed the sale.
Source: TB&P
California-based Dahn Corp. purchased Riverside Self Storage LLC in Vero Beach, FL for $9.5 million. The facility has 316 units spread across 40,300 NRSF, plus drive-up units and interior climate-controlled units. Future population growth in the Vero Beach area is projected to be above the national average, according to the CBRE Self Storage Advisory Group. CBRE represented the seller.
Merit Hill Capital bought a 46,000-square-foot property at 8233 S. Hosmer in Tacoma, WA for $7.1 million, which came out to $153 per square foot. It has 46,265 square feet spread across 454 units. Colliers’ de Jong | Becher Self Storage team – comprised of Jacob Becher, Nate Fliflet, Dana Chobor and Tom de Jong – represented the seller, Hosmer Self Storage LLC. Source: The Registry
Versal announced the sale of Spicewood Super Storage in Spicewood, TX (above). It’s located 29 miles northwest of Austin, TX. The boat and RV storage facility has 222 units totaling 83,150 NRSF. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne represented the seller, which is based in Houston. The team also found the buyer, Hinze Capital LLC of Dallas, TX. Source: Versal
Marcus & Millichap brokered the sale of Valor Storage, a 180-unit site in West Tawakoni, TX, about 50 miles each of Dallas. It was built in 2000 and its 180 units span 20,400 NRSF. Danny Cunningham and Brandon Kerr of Marcus & Millichap represented the seller, a Dallas-based private investor, and found the Austin, TX-based buyer. Source: REBusiness Online
Absolute Storage Management added three more facilities to its management list following recent ownership changes. They include a MyPlace Self Storage at 3125 W. Superstition Blvd., Apache Junction, AZ, that has 609 units totaling 4,293 RSF. Absolute also is managing a MyPlace Self Storage at 180 Bromley Business Parkway in Brighton, CO that has 742 units totaling 108,284 rentable square feet. In addition, Absolute now runs a facility at 640 Hogan Lane in Conway, AR. It has 305 units totaling 37,325 RSF.
Matthews Real Estate Investment Services announced the sale of five self-storage facilities in Knoxville, TN. Together they totaled more than 1,500 units and 230,000-plus rentable square feet. The properties included Mabry Hood Mini Warehouses, Campbell Station Mini Warehouses, Lovell Road Mini Warehouses, Downtown West Mini Warehouses and Middlebrook/Weisgarber Mini Warehouses. Austin McLeod, vice president, and Hunter Reynolds, associate, handled the transaction. Source: Matthews Real Estate Investment Services
