Andover Properties purchased Storage King USA on Dec. 5. The latter is located at 13397 Camino Real in Niederwald, TX. It has 68,400 square feet of drive-up storage and covered RV spaces. Andover plans to expand the facility by 100,000 square feet. Source: Community Impact
Nathan Gottlieb, Alex Ihrke, Matt Haugen and Tom Flanigan announced the sale of CP’s Stor-It located in West Burlington, IA. It has 16,064 rentable square feet off of Highway 34, sits on 2.03 acres and has room for expansion. Gottlieb and his team had the listing and the buyer, and they serve as the Minnesota, Iowa, North Dakota and South Dakota broker affiliates for Argus Self Storage Advisors. The buyer is a new operator in the market. Source: Market Screener
The Talonvest Capital Inc. team of Kim Bishop, Eric Snyder, Tom Sherlock, Phillippe Castillo and Lauren Maehler put together the closing of a $22.5 million financing for a four-property Southeast portfolio with sites in Franklin, TN; Riverview, FL; Orlando, FL and Austell GA. The properties total 2,382 units and 282,396 NRSF. The non-recourse, five-year loan included a fixed-rate and interest-only payments for the full term. Talonvest is based in Irvine, CA. Source: yahoo!finance
Chicago, IL-based StorSafe Self Storage has acquired new locations in Cedar Lake, IL and Melbourne, FL. The company is a subsidiary of Elmdale Partners, a real estate investment firm based in Chicago. The Cedar Lake location is at 13649 Wicker Ave. StorSafe now has 29 facilities totaling 1.7 million square feet.Source: NW Indian Business
Donnie Dodson of The Gorden Group Keller Williams East Valley arranged the sale of Rim260 Storage in Star Valley, AZ. The self-storage facility sold for $1.2 million to an undisclosed buyer on March 6. It has 1.37 acres, 20,709 rentable square feet, and also 44 self-storage units and 39 RV parking spaces. Dodson, an Arizona broker affiliate, represented the seller and is an Argus Self Storage affiliate. The Gorden Group’s office in Arizona is with KW Realty/East Valley/KWCommercial in Tempe, AZ. Source: The Gordon Group
Marcus & Millichap
Marcus & Millichap sold an 18,074-square-foot Access Self Storage facility in Phillipsburg, PA, about 18 miles from Allentown. It has 322 climate-controlled units that make up 18,074 NRSF. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe had the listing from the seller, an LLC. John Horowitz, New Jersey broker of record, helped close the transaction. The seller also is an LLC. The facility was built in 2018.
Marcus & Millichap brokered the sale of Access Self Storage, a 322-unit facility in Phillipsburg, along the New Jersey-Pennsylvania border. The site is less than one acre and includes 18,074 NRSF climate-controlled space. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel of Marcus & Millichap represented the undisclosed seller. The buyer’s name also wasn’t disclosed. John Horowitz of Marcus & Millichap helped close the transaction.
