Strategic Storage Growth Trusts III Inc. purchased a storage facility in Tamarac, FL for $19.5 million from Blue Vista Capital Management and SouthWestern Property. The site has approximately 69,000 NRSF that include a five-story building with about 760 climate-controlled units. It will operate as a SmartStop Self Storage facility. The facility’s market includes Miami, Fort Lauderdale, Pompano Beach and more. There are more than 3,000 housing starts in the planning stages within a three-mile radius.
Source: Business Wire
Marcus & Millichap Inc. brokered the sale of a three-property self-storage portfolio in the Kennebec County towns of Chelsea and Vassalboro in Maine. Luke Dawley, Nathan Coe, Brett R. Hatcher and Gabriel Coe listed the portfolio. James Koury, Maine broker of record, helped close the transaction. Neither the purchase price (the list price was $4.5 million) nor the buyer’s names were disclosed. The addresses are 1203 Eastern Ave., 1250 Eastern Ave. and 1494 N. Belfast Ave., Vassalboro. The Chelsea sites went up as self-storage locations in 2008 and the Vassalboro site in 2010. Two of the sites are called ABC Self Storage and one is called Chelsea Self Storage. The three properties are within 8.5 miles of each other. Combined, they have 296 non-climate-controlled units that are spread across 45,690 NRSF. All three sites have room to expand.
AMR REIT of Dallas, TX bought a 4-acre self-storage facility at 550 W. Centerton Blvd. in Arkansas, TX for $3.5 million (below). J. Richard Murphy Jr., John Goodson and 2 Under LLC, led by Jonatan Sheppard, were the sellers. Arvest Bank provided a five-year, $2.2 million loan. The facility was built in 2003 and has 42,089 RSF, spread across 313 units. There also are 48 rentable surface parking spaces. Source: TB&P
Alex Ihrke, Tom Flannigan, Matt Haugen and Nathan Gottlieb made up the Argus Self Storage Advisors team that ran the listing and found the buyer in the sale of Store Your Self Storage in Delano, MN. It has 26,812 RSF of drive-up storage plus 11,400 square feet of leased commercial industrial space. The property sits on 3.2 acres off of Highway 12. The buyer is a local owner looking to grow in the Minnesota market. Source: Argus Self Storage Advisors
StorageMart purchased three storage facilities in the Milwaukee, WI metropolitan area: Store Space Self Storage in Menomonee Falls, Germantown and Milwaukee. They have a combined 229,665 NRSF, spread across 1,747 units, including climate-controlled ones. The price was not disclosed. Source: PR Newswire