Glendale, CA-based self-storage REIT Public Storage bought a portfolio of six self-storage facilities in the Dallas-Fort Worth area from a joint venture between McKinney, TX-based Advantage Storage and Chicago, IL-based Harrison Street Real Estate Capital LLC. The purchase price was not disclosed.
Built from 2001 to 2017, the properties total about 430,000 square feet and more than 3,300 units. Steve Mellon and Brian Somoza, managing directors at JLL Capital Markets, led the team that executed the deal.
The six facilities are located as follows:
- 10410 E. Northwest Highway, Dallas, TX (65,500 square feet)
- 855 Lois St., Roanoke, TX (85,400 square feet)
- 1241 Prosper Commons Blvd., Prosper, TX (82,948 square feet)
- 4028 N. State Highway 78, Wylie, TX (54,070 square feet)
- 4028 N. State Highway 205, Rockwall, TX (72,400 square feet)
- 660 Justin Road, Rockwall, TX (69,350 square feet)
An investment group led by Sacramento, CA-based FollettUSA Inc. bought a self-storage facility in Loveland, CO, for $22.25 million from the Burton family of Loveland, according to BizWest. Firehouse Self Storage, at 2600 S. Lincoln Ave., features 1,235 self-storage units on about 24 acres. It reportedly is the largest self-storage facility in Colorado. Co-owner Chris Burton said the property wasn’t up for sale, but the owners decided to sell it after three self-storage companies made unsolicited bids.
York, PA-based Moove In Self Storage teamed up with a local investor and developer to purchase three properties from B&S Self Storage in Pottstown and Douglassville, PA, for an undisclosed amount. The deal comprises two properties in Pottstown — a self-storage facility at 175 S. Pleasantview Road with 28,500 square feet and more than 220 units, and a vacant car dealership at 214 E. High St. — and a self-storage facility at 604 Ben Franklin Highway East in Douglassville. Moove In Storage said an expansion is planned at the 132-unit facility in Douglassville, which offers 14,100 rentable square feet, and a build-out is planned for the car dealership in Pottstown. Once the expansion and conversion are completed, Moove In Storage will have 140,000 additional square feet of storage in its portfolio. York, PA-based Investment Real Estate Management LLC operates Moove In Storage’s facilities, which are in Pennsylvania, New Jersey and Maryland.
Orlando, FL-based Personal Mini Storage bought a self-storage facility in Gainesville, FL, from Emeryville, CA-based Devon Self Storage for an undisclosed amount. The facility, at 8825 NW 13th St., comprises 89,351 rentable square feet spread across 897 units. It also offers four outdoor parking spaces for RVs and boats. The facility is being rebranded as Personal Mini Storage. In March 2017, Personal Mini Storage became a regional operator for National Storage Affiliates Trust, a self-storage REIT based in Greenwood Village, CO. Charles “Chico” LeClaire and Adam Schlosser, both of Marcus & Millichap, represented the seller and secured the buyer. Kirk Felici of Marcus & Millichap helped close the deal.
Mike Mele and Jon Danklefs, both of Marcus & Millichap, handled the sale of Bay Area Mini Storage in Corpus Christi, TX. The names of the buyer, a private investor, and seller, an LLC, weren’t available. The purchase price wasn’t disclosed. The facility, at 2301 Rodd Field Road, contains 95,479 rentable square feet and 635 units. Initially built in 2003, the facility underwent expansions in 2006, 2014 and 2016.
The Storage Place added a property in Baytown, TX, to its portfolio of self-storage facilities in Texas. The Storage Place bought A Low Cost Self Storage from an unidentified LLC for an undisclosed amount. The facility, at 1600 Mabry St., encompasses 35,214 square feet and 305 units. The deal includes 1.5 acres available for expansion. With the Baytown acquisition, the Storage Place now owns 14 self-storage facilities. Dave Knobler of Marcus & Millichap represented the buyer and found the seller.