SmartStop has purchased a 1,777-unit self-storage facility in Newark, NJ for $30 million according to Commercial Property Executive. The three-building FlatRate Storage facility is located at 856-882 Frelinghuysen Avenue. The deal was put together by Levin Johnson of Marcus & Millichap and includes a leaseback arrangement with the moving company operating on the site.
Marcus & Millichap also arranged the sale of Everett I-5 Mini Storage, an 83,315-square-foot storage facility in Everett, WA. The facility, located at 13100 4th Avenue West, sold for $10.25 million to an out-of-state regional investment group. The seller was a local investment group. Christopher Secreto of the Seattle office of Marcus & Millichap arranged the transaction.
Bloomington, IN-based Storage Express has acquired three facilities in the state of Illinois from Miller Rentals. The properties are located in the Bloomington-Normal metro area. The combined facilities cover 77,000 square feet of space. Storage Express was represented by Marcus & Millichap.
Cushman & Wakefield arranged the sale of Fort Locks Self-Storage in Louisville, KY to Public Storage for an undisclosed price. The seller was a private individual. the 51,900-square-foot facility is located at 7650 Dixie Highway. Greg Wells, Brent Dolen and Sam English represented the seller and procured the buyer.
Southeastern Business Intermediaries has arranged the sale of a 345-unit self-storage facility in Rowlett, TX. The facility was sold to a national self-storage ownership company for $3.53 million. Darren Schiff of Jeremiah Baron & Co. and Craig Rice of CSD Realty Company assisted on the transaction.
KW Commercial Minneapolis, part of the Argus Self Storage Network, represented the seller of A-1 Mini Storage in Forest Lake, MN. The facility sold to an unidentified buyer for $2.7 million. The facility provides 38,450 rentable square feet of storage space and is located on a 15.5 acre site. Brokers Tom Flannigan, Ale Ihrke and Corley Wilkerson worked on the deal.
Red Dot Storage purchased Landmark Self Storage, located at 2749 Eureka Terrace in Manhattan, KS for an undisclosed price. The deal was arranged by Larry Goldman CCIM, a member of Argus. Red Dot will automate the facility.