Self-storage investment firm Merit Hill Capital LP bought a self-storage facility in Middletown, NY, from private investor Susan Petrone for $5.1 million. Galleria Self Storage, at 295 Ballard Road, is a 44,845-square-foot facility with 317 units. Michael Mele and Luke Elliott, both of Marcus & Millichap’s office in Tampa, FL, represented the seller and found the buyer. Merit Hill Capital, which has offices in Brooklyn, NY, and Dallas, TX, launched a $300 million self-storage investment fund in 2017.
An unidentified private investment firm bought 106 Self Storage in Plympton, MA, from an undisclosed seller for $3 million. The 106 Self Storage facility, at 106 County Road, features 330 drive-up storage units and a rental office covering more than 36,000 square feet. York, PA-based self-storage brokerage firm Investment Real Estate LLC handled the deal.
A Self Storage Centers of America facility in Tampa, FL, has a new owner. An unidentified private investor bought the facility from an unidentified private investor. The purchase price wasn’t available. The 705-unit facility, at 9234 Causeway Blvd., comprises 79,325 rentable square feet. Michael Mele and Luke Elliott, both of Marcus & Millichap’s Tampa office, represented the buyer and seller.
A recently built self-storage facility in Austin, TX, that’s managed by Malvern, PA-based self-storage REIT CubeSmart has a new owner. Lake Forest, IL-based Farragut Investments Inc. sold the 951-unit facility to an unidentified buyer. The purchase price wasn’t available. The LEED-certified facility, at 6130 E. Ben White Blvd., features two three-story buildings encompassing 77,000 square feet. Following the sale, CubeSmart continues to run the property, which opened in 2016. Steve Mellon and Brian Somoza, both of JLL Capital Markets, represented the seller.
A self-storage facility in Tampa, FL, has changed hands. An unidentified private investor bought Hyde Park Storage from an unidentified private investor. The purchase price wasn’t disclosed. The facility, at 1600 W. Platt St., has 205 storage units in 10,916 rentable square feet. Michael Mele and Luke Elliott, both of Marcus & Millichap’s Tampa office, represented the buyer and seller.
Bill Bellomy, Michael Johnson and John Arnold, all of Austin, TX-based commercial real estate firm Bellomy & Co., handled the sale of three self-storage facilities in Texas. The facilities are:
- Superior Storage in Edinburg, TX. The facility, at 3102 McColl Road, comprises 524 units in 70,640 net rentable square feet. The unidentified buyer is from San Diego, CA, and the unidentified seller is from Edinburg. The purchase price wasn’t disclosed.
- Storage Saums Road in Katy, TX. The facility, at 19936 Saums Road, has 306 units in 27,270 net rentable square feet and sits on 2.96 acres. Land for expansion was included in the deal. The property, originally was a bowling alley, opened as a self-storage facility in 2014. The unidentified buyer is from Dallas, TX, and the unidentified seller is from Conroe, TX. The purchase price wasn’t disclosed.
- St. Elmo Storage in Austin, TX. The facility, at 405 E. St. Elmo Road, consists of 319 units in 21,950 net rentable square feet. The unidentified Houston, TX, buyer plans to redevelop the 1.17-acre property into a Class A facility. The unidentified seller is from Austin. The purchase price wasn’t disclosed.