Extra Space Storage Inc. picked up a self-storage facility in Honolulu for $29 million.
The Utah-based self-storage giant purchased Diamond Head Self Storage’s property at 633 Ahua St., according to public records as cited by Pacific Business News. With this buy, Extra Space Storage now has 12 facilities in Hawaii. It also recently formed a new business in Hawaii called Extra Space Storage of Honolulu Keahole Street LLC. This means that another location in Hawaii could be in Extra Space Storage’s future.
A family trust has sold a Victory Self Storage facility in Staten Island, NY, to Andover Properties of New York for $5.2 million.
Andover Properties operates under the trade name, Storage King, and was represented by Nick Malagisi, SIOR National Director of the SVN Self Storage Council. Andover plans to re-brand the property and make several upgrades, including building a new two-story, climate control building in place of a single family home on the site.
Victory Self Storage has 439 rental units in 14 single story pre-engineered steel buildings plus a freestanding office with an apartment in 38,345 net rentable square feet. It also features a freestanding cell tower. The facility has consistently operated at 90 to 95 percent occupancy, according to Malagisi.
WCBB Investments & Management Inc. sold a University Self Storage facility to University Storage Pensacola LLC in an off-market transaction. SkyView Advisors represented the seller. The deal is helping the buyer expand its footprint in the Florida Panhandle. The property is located in Pensacola, Florida. University Self Storage consists of 173 climate controlled storage units, 171 non-climate controlled storage units, totaling 344 units.
“This was an under managed facility, which provides a value add opportunity for the buyer to implement their management team to begin to grow revenue right away,” said Thomas A. Doyle, .
Budget Store & Lock Self Storage acquired Douglassville Self Storage for $3.5 million from Investment Real Estate LLC.
The facility sits on nine acres at 19 Broadmoor Blvd. in Douglassville, PA. More than 400 units are spread out over 10 single-story buildings. The site also includes 50 outdoor parking spaces. The facility opened in 2008 and has zoning approval for expansion. Site improvements include decorative fencing, a keypad-controlled gate, paved driveways, and video cameras. Overall, Budget Store & Lock operates 21 storage facilities in Pennsylvania, according to Inside Self Storage.
Compas TPM LLC purchased an AA Self Storage facility in Cold Spring, KY.
The facility has 66,150 net rentable square feet and is located at 6307 Licking Pike in Cold Spring. It sits on 14.25 acres of land. The facility has 132 climate controlled storage units and 357 non-climate controlled storage units. Because of the large size of the land, there is room for expansion on the property.
SkyView Advisors represented the seller, AA Self Storage LLC as well as the buyer.
Ryan Clark, senior vice president at SkyView Advisors, says the property generated interest from numerous regional and national buyers. The seller received multiple offers exceeding price per square foot sales comparisons in the market, according to Clark.
A Dominion Mini Storage facility in Richmond, VA, changed hands for an undisclosed amount.
The 29,375-square-foot facility is located on about 2.1 acres at 8610 Midlothian Turnpike. Built in 1978, it is made up of 28,375 net rentable square feet of self-storage and about 1,000 square feet of rented office space. At the time of the sale it was 80 percent occupied.
All self-storage lockers are standard, non-climate controlled, and there are a limited number of parking spaces available for rent. Marcus & Millichap arranged the sale for the seller – an unnamed LLC – and the buyer, which was an undisclosed REIT. The property reportedly received multiple offers.