Sold! Blumenfeld Development buys two Queens facilities for $122 million

Bruce Goldberg
January 3, 2024

Blumenfeld Development Group of Syosset, NY, which is part of Long Island, paid $122 million for two self-storage properties in Flushing and Woodside, both in Queens. The company purchased the 159,000-square-foot 34-09 College Point Blvd. in western Flushing for $72 million, or $453 per square foot. Also, Blumenfeld acquired the 102,056-square-foot 62-05 30th Ave. in Woodside for $50.6 million. LSC Development, a real estate developer in Barrington, IL, sold the Woodside site for $21 million in 2016 and the Flushing site for $9.4 million in 2017.

Source: Commercial Observer

Tom Flannigan, Alex Ihrke, Nathan Gottlieb and Matt Hauge announced the sale of Oronoco Self Storage, which is off Highway 52 in Oronoco, MN, and markets to the Rochester, MN MSA. The facility has 38,074 RSF of drive-up storage. There is room to put up three more buildings. A local operator was the buyer. Flannigan and his team listed the property. Flannigan, Ihrke, Gottlieb and Hauge are the Iowa, Minnesota and North and South Dakota broker affiliates for the Argus Self Storage Advisors. Argus is based in Denver, CO. Source: Business News This Week

Marcus & Millichap closed the sale of the Storage Source One Two Property Portfolio, whose two self-storage facilities have 50,965 square feet in Jonesborough, TN. Brian Kelly, Brett R. Hatcher, Gabriel Coe and Nathan Coe had the listing to market on behalf of the seller, an LLC. Jody McKibben, Tennessee broker of record, helped close the transaction. The two properties are about 13 miles apart in Jonesborough and Kingsport, TN. They have a combined 429 units – some climate-controlled, some not – plus RV parking spaces. Source: RE Journals

Sign up for the Storage Beat newsletter

Never miss a story! Sign up for our weekly newsletter featuring the latest storage industry news and interviews with movers and shakers:

About the SpareFoot Storage Beat

The SpareFoot Storage Beat is your go-to source for news, features and analysis about the self-storage industry. Self-storage categories covered by The SpareFoot Storage Beat include public companies, private companies, industry trends, real estate development, facility acquisitions, hirings and promotions.

Send us a tip

Recent posts