CBRE’s Self-Storage Advisory Group brokered the $23.1 million sale of a newly built facility, Windermere Storage, in Orlando, FL. The 89,145 square foot facility is located at 8550 Old Winter Garden Road. CBRE represented the seller, locally based Schrimsher Properties, and Wentworth Properties was the buyer. Windermere has a two-story building with 609 climate-controlled units, plus a 2,000-square-foot office building and 351 parking spaces. The property is now operating as a Public Storage facility.
Source: REBusiness Online
Golden, CO-based Spartan Investment Group purchased Max Storage in Macon, GA, which is being renamed FreeUp Storage Macon Dove Street. The 515-unit facility includes 10 buildings totaling 66,705 NRSF, one-third of which are climate-controlled. The facility also has a 13,800-square-foot warehouse, which Spartan plans to lease. This is the 15th self-storage facility under the FreeUp brand in Georgia. Source: connectcre
MV Investment sold a self-storage facility at 5234 Raeford Road in Fayetteville, NC (above). The buyer’s name was not disclosed. The facility has about 90,000 square feet and is climate-controlled. Construction of the building started in February 2022 and finished in March 2023. MV Investment, based in Cincinnati, OH, also is involved with developing four other facilities, with two in Florida and two in North Carolina. Source: MV Investment
Marcus & Millichap
Marcus & Millichap brokered a three-property, 1,656-unit CubeSmart self-storage portfolio in Jacksonville (six buildings, 618 units and 69,750 NRSF on 4 acres), Tallahassee (five buildings, 583 units) and Middleburg (four buildings, 53,115 NRSF and 455 units on 3 acres), all in Florida. Nathan Coe, Gabriel Coe and Brett R. Hatcher represented the seller and procured the buyer. The Jacksonville and Tallahassee facilities opened in July and March 2021, respectively and are 64% and 65% occupied. The Middleburg location opened in May 2022 and is 44% occupied. Source: Market Screener
Marcus & Millichap announced the sale of Farmington Self Storage, a 7,647-NRSF facility that’s expected to grow to 21,247 NRSF in Farmington, NH. Luke Dawley, Nathan Coe, Brett R. Hatcher and Gabriel Coe had the market listing. Thomas Shihadeh, New Hampshire broker of record, helped close the transaction. The seller is an LLC. The location sits on 3.35 acres about 25 miles northeast of Concord. Source: Marcus & Millichap
Marcus & Millichap announced the sale of Andover Street Self Storage, a 76,396-square-foot facility with more than 1,100 units in Peabody, MA. Nathan Coe, Brett R. Hatcher and Gabriel Coe had the market listing. Thomas Shihadeh, Massachusetts broker of record, helped close the transaction. The facility opened in February 2023. Source: Marcus & Millichap
