Sold! Rosewood Property Co. closes on trio of Sunbelt storage facilities

Bruce Goldberg
Published November 15, 2023

Dallas, TX-based Rosewood Property Co. acquired three self-storage facilities in Vista, CA; Tempe, AZ and Las Vegas, NV. That brings the company’s total to 82 self-storage facilities nationwide. The Vista property, located at 1317 N. Melrose Drive, is a 120,000-square-foot facility (below). The Tempe property has 62,000 square feet at 1964 E. University Drive, down the street from the Arizona State University campus. Extra Space Storage will serve as the properties’ management company.

Source: Rosewood Property Co.

InSite Property Group bought a 150,000-square-foot self-storage facility at 9309 Aurora Ave. N, in the Greenwood district of Seattle for $30 million – about $199 per square foot. The buyer was an entity affiliated with InSite, and the seller was an entity affiliated with Thomas Nickerson, a managing member of Nickerson Properties LLC, a privately held real estate investment company based in Seattle. The structure was built in 2019. SecureSpace Self Storage will operate the facility. Source: The Registry

Miami, FL-based Larkspur Storage has sold two development projects in Belleville, IL and Opelika, AL. Larkspur is a portfolio company of Staple Street Capital and focuses on building, acquiring and operating self-storage sites in the United States and Canada. Larkspur first partnered with Staple Street Capital in 2019 to redevelop failed retail centers into leased self-storage sites. Source: Yahoo! Finance

Versal announced the sale of Paradise Self Storage at 3990 Highway 35 N Bypass in Rockport, TX. The site is 35 miles northeast of downtown Corpus Christi. It was developed in 1994. The facility has 23,800 NRSF and 114 units. Source: Versal

Marcus & Millichap

Marcus & Millichap closed the sale of KCI RV Storage & Development, a 104,850-square-foot facility at 14600 US-169 in Smithville, MO. Robert Cook, senior associate, and Sean Delaney, senior managing director – both are investment specialists in Marcus & Millichap’s Chicago Oak Brook office – had the listing. The buyer and seller were LLCs. David Saveri, regional manager and broker of record in Missouri, helped close the transaction. The site is 100% occupied. There are six newly constructed buildings with approval to expand. Source: REJournals

Marcus & Millichap announced the sale of the Santa Fe Storage  portfolio, a 97,090-square-foot group of storage facilities, with four locations in Santa Fe, TX according to Ford Noe of the firm’s Houston office. Dave Knobler and Charles “Chico” LeClaire had the listing, which includes 654 non-climate-controlled units, 24 outdoor parking spaces, two small office spaces, a billboard and an efficiency apartment.

Talonvest Capital

Talonvest Capital Inc. secured $67.3 million in financing with two permanent loans for self-storage on behalf of The William Warren Group in Santa Monica, CA. One of the portfolios has seven assets in Floria, Colorado and Arizona. The second portfolio includes properties in Florida, Nevada and California. The Talonvest Capital team included Kim Bishop, senior director relationship management; Eric Snyder, co-founding principal; Mason Brusseau, associate; Ivan Viramontes, associate; and Lauren Maehler, closing manager. StorQuest Self Storage will run the facilities.

Bruce Goldberg

Bruce Goldberg is a freelance writer and editor based in Denver. He worked in newspapers and magazines as both a business writer/editor and sportswriter/editor for 35 years.

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