Extra Space Storage acquired the newly built self-storage facility at 3055 Del Sol Boulevard in Otay Mesa, CA for $9.5 million. The facility (pictured above) was developed by the seller, Beverly Hills, CA-based M4 Management Inc.
The 60,000-square-foot facility also includes 73 spaces for boats and RV storage.
The sale marks the first certificate of occupancy self-storage deal in California, according to Steven Grossman of NAI Capital who represented the seller.
“Other well-located C of O deals are in the pipeline and I look forward to bringing these properties to the market,” Grossman said.
Spokane, WA-based SRM Development, a real estate development and management company, purchased the 64,369-square-foot self-storage facility at 333 5th Place S in Kirkland, WA for $10 million, property records show. The facility was built in 1991 and continues to operate under the brand name Moss Bay Storage.
The facility is located less than a mile from a major Google office.
A joint venture between Memphis, TN-based Absolute Storage Management and Nashville-based The Natchez Group purchased Cool Springs Storage at 258 Mallory Station Road in Franklin, TN for $5.2 million. The facility spans 60,000-square-feet
“This is a great location with below-market rents and occupancy, badly in need of some TLC,” Michael Haugh, president of Absolute Storage, told The Tennessean.
Prime Storage Group purchased Riverline Self Storage at 1714 Bannard Street in Cinnaminson, NJ for $5.4 million from a private local investor. The two-building facility features 381-units that cover 36,586 square feet of rental space. The facility also offers more than 26,900 square feet of office, retail and warehouse space. The seller was represented by Richard Schontz and Barbara Guffey of HFF.
“The purchaser will also have the ability to expand Riverline Self Storage’s net rentable square footage immediately, creating additional value,” said Schontz, “The property fits well into Prime Group’s growing Philadelphia-area portfolio.”
In a separate transaction, Prime Group acquired Longtown Self Storage, a facility at 405 Longtown Road in Columbia, SC. The 60,250-square-foot facility sold for just over $4 million according to seller agent Dale Eisenman of Midcoast Properties. The facility offers 449 units.
Prime Group also bought a third facility recently at 4415 Aramingo Avenue in Philadelphia, PA for $4.43 million The 62,100-square-foot facility was sold by Locker Room Storage LLC.
Stack-It Storage recently purchased the 22,000-square-foot facility at 23322 FM 2100 in Huffman, TX for $1.5 million.
American Self Storage Inc. purchased the 30,900-square-foot self-storage facility at 3805 S. Smithfield Road in Knightdale, NC for $2.3 million. The sellers was Cobbs U-Storr-It Inc.
PMRK-Harrisburg LLC purchased the 38,378-square-foot facility at 108 Commercial Park Drive SW in Concord, NC for $2.5 million. The sellers were Randy and Debra Carter.
MK Storage Ventures LLC purchased the 42,930-square-foot self-storage facility at 23227 Freedom Avenue in Port Charlotte, FL for $1.9 million. The seller was Extra Closet LTD.
Calico Industries, operator of U-Store, purchased the Storage Direct facility at 7020 N Camino Martin in Tucson, AZ for $2.5 million. The 53,175-square-foot facility was sold by DPM Marana Self Storage LLC.
Public Storage purchased the 71,715-square-foot facility at 2930 County Road 59 in Manvel, TX from Excel Commercial. The newly built facility was formerly operated as Pearland Storage @ Southfork. Excel was represented by Brian Somoza and Steve Mellon of JLL. Purchase price was not disclosed.
CubeSmart purchased the 51,891-square-foot facility at 465 Eagle Rock Avenue in Roseland, NJ. The facility was formerly Eagle Rock Self Storage. Somoza and Mellon represented the seller, with support from Tom DiMicelli of JLL’s Melville, NY office.
An unidentified investor purchased Budget Self Storage, a 64,440-square-foot facility at 5061 Beech Place in Temple Hills, MD. The facility sold for $4.25 million. Robert Bloch and Michael Mele of Marcus & Millichap represented both parties.
Bline Investments purchased two facilities in Cortez, CO for an undisclosed price. The company purchase Triple Six Storage at 12450 Highway 491 and High Country Storage at 27518 E. Highway 60. The facilities offer a combined 74,000-square-feet of storage space. Joan Lucas of Argus Self Storage represented the seller.