Spartan Investment Group of Golden, CO closed on three self-storage deals – in Belleview, FL; Pea Ridge, AR and Kingsland, GA – in the company’s growth fund. The Belleview location is a 4.63-acre lot, and Spartan plans to start ground-up development of a 550-unit facility this month. At FreeUp Storage Pea Ridge (pictured below), the existing facility covers 15.21 acres and there are plans to add 27,000 square feet of storage. The Kingsland, GA location is a new facility with 333 units and more than 30,000 rentable square feet. Spartan will transition the property into the FreeUp Storage brand and to build an additional 20,000 square feet. Spartan’s portfolio has 66 properties.
Source: Spartan Investment Group
SkyView Advisors brought together an institutional buyer and a local seller, completing the sale of the 3 Men Movers self-storage facility in Houston, TX. It has 78,372 NRSF spread across 591 units. Also, multiple buildings inside the facility can be repurposed into another 81,000 NRSF. The facility is alongside US 59 and has a daily traffic count of 251,000 vehicles. Source: SkyView Advisors
Ken Miller of Northstate Commercial Partners announced the sale of Weed Mini-Storage in Redding, CA. The facility sits on 1.7 acres and has 90 units spread across 13,400 rentable square footage. Miller is the Argus Self Storage Advisors broker affiliate covering Northern California. Source: Argus Self Storage Advisors
U-Haul purchased the former Storage Hotel at 5060 High Meadows Drive, near Grovetown, GA. It’s now doing business as U-Haul at Columbia Fairgrounds. The three-story, climate-controlled building has 422 units. The store will join 20-plus U-Haul outlets in Richmond and Columbia counties. Source: Augusta Chronicle
Marcus & Millichap brokered the sale of a 48-unit facility in Merrimack, NH. Life Storage operates the facility, which opened in early 2022. It has 57,840 NRSF of non-climate-controlled space. Nathan Coe, Brett R. Hatcher and Gabriel Cox of Marcus & Millichap represented the seller, an LLC. Thomas Shihadeh of Marcus & Millichap helped close the transaction as the broker of record. Source: REBusiness Online