Dahn Corporation purchased a portfolio of two facilities from Flordia Acorn Mini Storage for $20.25 million. Located at 1595 Port Malabar Boulevard in Palm Bay, FL and 3546 W. New Haven Avenue in Melbourne, FL, the facilities will be rebranded and managed by Mini U Storage. The facilities span 46,942 square feet (Palm Bay) and 108,155 square feet (Melbourne). The two properties offer a total of 1,470 units. Michael Mele and Luke Elliott of Marcus & Millichap arranged the deal.
World Class Capital, operator of Great Value Storage recently purchased Best Bargain Storage in Commerce City, CO and Buckley Bargain Storage of Aurora, CO for $9.9 million. The portfolio consists of three facilities. Joan Lucas of Denver, CO represented the seller. The portfolio covers 103,060-square-feet.
“We plan to grow our self-storage portfolio throughout the state of Colorado with additional acquisitions and ground-up development,” said Nate Paul, CEO of World Class Capital, in a statement.
Follet USA of Sacramento, CA purchased the 79,802-square-foot Greater American Self Storage on Hunn Road in Yuba City, CA for $4.8 million. The facility, which offers 711 units, was sold by DFRD Enterprises LP. Bobby Loeffler and Tyler Skelly of the Loeffler Self-Storage Group represented arranged the deal.
Life Storage purchased two self-storage facilities located at 2103 W. Avenue J in Lancaster, CA and 380 W. Palmdale Boulevard in Palmdale, CA. The facilities offer a combined 1,390-units. The facilities were sold by Martin Properties Inc. John Battle of Lee & Associates-LA North/Ventura represented the seller in the off market transaction.
Drive-Up Storage, a subsidiary of Maya Capital Partners LLC purchased the 21,730-square-foot self-storage facility at 445 Hickory Street in Kearney, NJ. The facility offers 408 total units. The seller, 21st Century Storage, was represented by Steve Mellon, Brian Somoza and Joseph Garibaldi of JLL.
A private investor purchased Preferred Self Storage, a 35,350-square-foot self-storage facility at 2250 North Douglas Boulevard in Oklahoma City, OK. The facility offers 205 units and was 99 percent occupied at the time of sale. Trey Hammond and Michael Mele of Marcus & Millichap arranged the transaction.
A private investor purchased a six-property portfolio in Elkhart, Indiana for a record-setting price. While Marcus & Milichap did not disclose the price, the firm says the deal is the largest self-storage sale on record for the county. The 289,302-square-foot Iron Gate Self Storage portfolio was 70 percent occupied at the time of sale. The deal was arranged by Sean Delaney and Michael Mele and includes the following locations:
- County Road 113 Self Storage, 420 units, Elkhart
- County Road 9 Self Storage, 340 units, Elkhart
- Johnson Street Self Storage, 274 units, Elkhart
- Middleton Run Road Self Storage, 173 units, Elkhart
- Bloomingdale Drive Self Storage, 118 units, Bristol
- State Road 13 Self Storage, 141 units, Middlebury
City Line Capital, in partnership with CSG RE, purchased the 68,562-square-foot Fort Knox Self Storage facility at 2550 Peters Creek in Winston-Salem, NC for an undisclosed price. The facility offers 625 units and was 91 percent occupied at the time of sale. The deal is City Line Capital’s fifth acquisition of 2017.
Devon Self Storage purchased the 39,410-square-foot South Congress Storage facility in Austin, TX. The 447-unit property sits on a 6.5 acre site seven miles south of downtown. The sale was arranged by Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co.