Saratoga Springs, NY-based Prime Storage Group purchased a self-storage facility in the Astoria neighborhood of Queens, NY, for $94 million.
The sellers were New York City, NY-based Madison Development LLC, which built the 173,990-square-foot facility, and a fund affiliated with Newark, NJ-based insurance giant Prudential Financial Inc., according to The Real Deal. The facility, at 31-07 20th Ave., had been operated by self-storage REIT CubeSmart.
Previously, Madison Development sold two self-storage facilities to Prime Storage Group — one in Brooklyn, NY, for $53 million and the other in the Bronx, NY, for $37 million. CubeSmart also had managed both of those facilities.
Below is a Google Street View of the site last updated prior to completion of the project last year:
Self-storage advisory firm SVN Commercial Realty brokered the sale of two self-storage facilities in the New York City, NY, area for a total of more than $40 million. In the first deal, 3104 Whitestone Expressway LLC bought a self-storage facility at 31-40 Whitestone Expressway in the Flushing neighborhood of Queens, NY, from Whitestone Expressway Realty LLC for $27 million. The 70,368-square-foot facility sits on nearly 2 acres.
In the second deal, Irvine, CA-based US Storage Centers Inc. bought a self-storage facility at 130 Brady Ave. in Hawthorne, NY, for $14.1 million from New York City-based GoodFriend Self-Storage. The 40,452-square-foot facility sits on 1.5 acres. The newly remodeled property includes room for a 2,450-square-foot expansion.
Nicholas Malagisi, managing director of SVN Commercial Realty in Buffalo, NY, and chairman of the Self-Storage Product Council at SVN International Corp., advised the sellers in the two deals. Hans Hardisty, managing director of SVN Deegan-Collins Commercial Realty in Kingston, NY, assisted Malagisi.
An unidentified private investor bought a 3.7-acre site Edmond, OK, for development of a self-storage facility. The seller was B&G Capital LLC. The purchase price for the property, at NW 164th Street and North Pennsylvania Avenue, wasn’t available. Jared Jones, a Tulsa, OK, broker affiliated with the Argus Self Storage Sales Network, represented B&G Capital in the deal.
Austin, TX-based commercial real estate firm Bellomy & Co. handled deals for three self-storage facilities in Texas:
- Judson Self Storage in San Antonio, TX. The facility, at 14989 Judson Road, consists of 606 units in 129,573 rentable square feet. Harry Botkin of HLB Investments in New Braunfels, TX, represented the seller, a San Antonio investor. Bill Bellomy, Michael Johnson and John Arnold, all of Bellomy & Co., represented the buyer, Store It All Self Storage of Rockville, MD. The purchase price wasn’t disclosed.
- Right Move Storage in Houston, TX. The facility, at 12310 Perry Road, features 742 units in 99,455 rentable square feet. The facility sits on nearly 8 acres and includes expansion room. Bellomy, Johnson and Arnold represented the seller, Pasadena, CA-based Storage Solutions Perry Road LP, and found the unidentified Houston-based buyer. The purchase price wasn’t disclosed.
- Baywood Self Storage in Mabank, TX. The facility contains 66,518 rentable square feet and two apartments. Bellomy, Johnson and Arnold represented the unidentified Kemp, TX-based seller. Ann Williams of Marcus and Millichap represented the unidentified Southlake, TX-based based buyer. The purchase price wasn’t disclosed.
Ferdinand, IN-based Access Storage Now purchased Birdseye Self-Storage in Birdseye, IN, from Steve Morrow, according to the Dubois County Free Press. The purchase price and other details of the deal weren’t available. Access Storage Now owns and operates 11 self-storage facilities in southern Indiana with 2,500 units; the company said it’s expanding in Corydon, Dale, Huntingburg