The 65,886-square-foot storage facility at 305 E. 61st St. in Manhattan was sold for $40 million to a buyer who plans to convert the property into condos. The 358-unit facility (pictured at top) was vacant at the time of sale, according to Cushman & Wakefield.
In 2014, NYC-based Madison Development announced plans to convert the existing storage building into a high-end art storage facility. Property records show that building owners 10 LLC and ALSC Realty LLC sold the 11-story building to 305 East 61st Street Group LLC on August 15. The new owner plans to redevelop the property into eight apartments averaging 6,300-square-feet each, according to New York Yimby.
CubeSmart purchased the 904-unit self-storage facility at 1240 W. 98th Avenue in Bloomington, MN for $15.15 million. The REIT has managed the facility since 2011.
GC Storage LLC purchased the 18,190-square-foot self-storage facility at 3381 Mira Loma Drive in Cameron Park, CA for $2.1 million. The Rescue, CA-based buyer was represented by Bobby Loeffler and Tyler Skelly of the Loeffler Self-Storage Group. Loeffler and Skelly also listed the property for the seller, CPRS, Inc. The facility offers 176 units.
Dan Floit, an investor based in San Diego, purchased the 103,350-square-foot self-storage facility at 10751 Elevator Road in Spring Valley, CA for $9 million. The facility, under the name Sweetwater Springs Self Storage, was sold by the White Family Trust of El Cajon. Dave Savage of Apartment Consultants Inc arranged the transaction. The facility offers 500 units.
Lubbock, TX-based NWA Storage Group purchased the 80,250-square-foot self-storage facility 1619 E. Centerton Boulevard in Centerton, AR for $3.8 million, property records show. Springdale, AR-based seller Charlotte, Inc was represented by Bellomy & Co. The facility was 96 percent occupied at the time of closing.
Lockaway Storage purchased the 67,500-square-foot self-storage facility at 108 State Highway 46 in Boerne, TX for an undisclosed amount. The 465-unit facility, which operated under the name Storage Solutions of Boerne, was 83 percent occupied at time of sale. Bill Bellomy, Michael Johnson, and John Arnold of Bellomy & Co arranged the off-market transaction.
Public Storage purchased the 77,980-square-foot self-storage facility at 3730 Columbia Memorial Parkway in League City, TX for an undisclosed amount. The facility previously operated as Space Station Self Storage and was 85 percent occupied at the time of sale. The transaction was arranged by Bellomy & Co.
Global Self Storage Inc. purchased the 85,768-square-foot self-storage facility at 1910 W. Robb Avenue in Lima, OH for an undisclosed price. The facility offers 739-units and previously operated under the name Lima Self Storage.
Dallas-based Rosewood Property Company purchased two self-storage projects located in Tacoma and Puyallup, WA. Rosewood acquired the two properties, 8625 Pacific Avenue in Tacoma and 13015 Canyon Road East in Puyallup, for an undisclosed amount. Together the two facilities span 133,000 square feet across 1,026 units. The facilities were sold by Safeland Storage. Rosewood has tapped Extra Space Storage to manage and brand the facilities.