The Loeffler Self-Storage Group closed on the sale of two California self-storage facilities for a total of $7.5 million.
In Novato, CA, Bobby Loeffler and Tyler Skelly, both of the Loeffler Self-Storage Group, represented the owners, Charles and Michael McCabe, in the sale of Mac-Andy Boat & RV Storage for $5.8 million. A local RV rental and storage operator bought the facility, which offers 166,399 net rentable square feet. The property, at 310 Deer Island Lane, features more than 240 parking stalls on 5.8 acres.
In Redding, CA, Loeffler and Skelly brokered the sale of Shasta Economy Storage for $1.7 million. Marian Beith sold the 298-unit facility to Redding-based Tops Industries Inc. Shasta Economy Self Storage features 30,934 net rentable square feet on 3.2 acres. A nearly 3.8-acre parcel that’s available for expansion was included in the sale. The facility, at 4531 Caterpillar Road, is now known as Caterpillar Road Storage.
National Storage Affiliates purchased the six-property ACE Storage portfolio in the St. Louis metro area. The portfolio spans 440,059 square feet and about 3,000 storage units. The sale was negotiated by Ryan Clark of Skyview Advisors, who represented the seller. Sales price was not released.
National Storage Affiliates also purchased Security Storage, a 46,932-square-foot facility in Hollywood, MD. Ryan Clark of Skyview represented the seller, Phoenix LLC.
Southern California-based Best Self Storage is entering the self-storage industry in a big way: the new company purchased the 21-property U-Stor-It self-storage portfolio for an undisclosed price. The 563,000-square-foot portfolio features locations in New Mexico, Texas and Arkansas. Best Self Storage is led by industry veteran Robb Kone. Peter Pappageorge and Doug Shea of INCO Commercial represented the buyer. The portfolio will retain the U-Stor-It name and be managed by Argus Professional Storage Management.
Bellomy & Co. arranged the sale of a two-property storage portfolio in suburban San Antonio, TX. Ten Oaks Self Storage in Boerne, TX, comprises 756 units on nearly 7.5 acres, while Ten Oaks Self Storage in Helotes features 467 units. Combined, the facilities have 186,859 net rentable square feet. The Boerne facility is at 131 Old San Antonio Road, and the Helotes facility is at 16304 W. Bandera Road. Bill Bellomy, Michael Johnson and John Arnold, all of Bellomy & Co., represented the Boerne-based based seller. The names of the buyer and seller, along with the sale price, weren’t available.
An out-of-state buyer purchased Lawhorne Storage in Sylvester, GA. The names of the buyer and seller weren’t disclosed. The purchase price wasn’t available. Located on more than 6 acres, Lawhorne Storage features 26,000 rentable square feet and 261 units, along with a house and two offices. The facility is at 101 Thompson St. Michael Morrison, an associate broker with Midcoast Properties Inc., handled the sale.
Marcus & Millichap represented the buyer and seller of a self-storage facility in Austin, TX. The seller of Wells Branch Self Storage, a 64,412-square-foot facility, was a family trust in New Jersey. The buyer was Wells Branch Mini U Storage LLC, based in Southern California. Dave Knobler and Charles LeClaire, both of Marcus & Millichap, handled the deal.
“We received six offers for the asset,” Knobler says, “and interestingly the four highest offers came from private capital investors and not publicly traded institutions.”
The sale price wasn’t available. The 587-unit Wells Branch Self Storage is at 1763 Wells Branch Parkway.