Stop-N-Stor Self Storage Centers sold its eight-facility portfolio in Ohio to an unnamed out-of-state buyer. The purchase price wasn’t disclosed. The eight facilities consist of 391,458 rentable square feet throughout 3,050 units. The facilities are in the Ohio cities of Cuyahoga Falls, Elyria, Lorain, Northwood, Oregon, Stow and Toledo. Marcus & Millichap’s Hatcher Storage Group, based in Columbus, OH, brokered the sale.
Strategic Storage Trust IV Inc., a non-traded self-storage REIT sponsored by Ladera Ranch, CA-based SmartStop Asset Management LLC, bought a 480-unit storage facility in Texas City, TX, for about $8 million. Constructed in 2010, the estimated 80,000-square-foot facility sits on nearly 10.5 acres at 3730 Emmett F. Lowry Expressway, and features climate-controlled interiors and drive-up access. The property includes a 7.3-acre parcel that’s available for expansion. The facility had operated under the Best Storage brand name. With the sale of the Texas City property, Best Storage now operates eight self-storage facilities in Texas.
Montreal Mini-Storage Group bought two self-storage facilities in Montreal, Quebec, Canada, from Dalfen American Corp., whose U.S. headquarters is in Dallas, TX. The two properties total about 169,000 rentable square feet and more than 1,300 units. Both of the facilities, at 8925 St. Laurent Blvd. and 2707 Dollard Ave., are self-storage conversions. The purchase price wasn’t disclosed. Three managing directors at JLL Capital Markets — Steve Mellon, Brian Somoza and Robert MacDougall — led the JLL team that worked on the deal.
Cleveland, OH-based Compass Self Storage, part of the Amsdell family of companies, bought a self-storage facility in Fort Worth, TX. The 465-unit facility, at 8500 S. Hulen St., is the seventh Compass Self Storage location in the Dallas-Fort Worth market and the 75th location in the U.S.The Fort Worth facility, which had been branded as Safe & Secure Self Storage, offers more than 68,000 rentable square feet. The purchase price wasn’t available.
Self-storage REIT CubeSmart, based in Malvern, PA, bought a self-storage facility in Oakland Park, FL, from Warehouse Thirteen LLC. The purchase price wasn’t disclosed.The facility, at 5061 NE 13th Ave., features 63,431 rentable square feet and 552 units. The property, which had been branded as Four Seasons Self Storage, was built in 2012. Three managing directors at JLL Capital Markets — Steve Mellon, Brian Somoza and Denny St. Romain — represented the seller.
The William Warren Group, a Santa Monica, CA-based self-storage owner and operator, purchased Outback Storage Laguna in Elk Grove, CA. The facility will be rebranded as StorQuest Self Storage. The property, at 2340 Maritime Drive, comprises 67,750 square feet and 641 units. The seller was Outback Storage Laguna LLC. The purchase price wasn’t available.
King Arthur Self Storage in Draper, UT, has changed hands. Jonathan Cutler of Overland Park, KS, an agent affiliated with the Yorktown, VA-based Storage Acquisition Group, arranged the sale to an unnamed buyer. The purchase price wasn’t disclosed. The Draper facility, at 14039 Minuteman Drive, features more than 1,000 self-storage units across 118,500 square feet. In September, Cutler brokered the sale of a King Arthur Self Storage facility in West Valley City, UT.