Katy, TX-based Pinnacle Storage Properties purchased five self-storage facilities in the Pacific Northwest through a joint venture with a business called CFJ LLC. The sellers weren’t identified. The purchase prices weren’t disclosed.
The facilities are:
- Sherlock Storage and Gold Street Storage, both in Centralia, WA.
- Three Titan Self Storage facilities in Kelso, WA; Roseburg, OR; and Winston, OR.
All five facilities now operate under Pinnacle’s Storage Plus brand.
John Manes, CEO of Pinnacle, said the partnership with CFJ and the Pacific Northwest acquisitions are the first step in the company’s nationwide expansion. The portfolio now features 7,500 units in more than 1 million rentable square feet. Plans call for Pinnacle to double in size within the next year.
SkyView Advisors report:
Lake Wales Storage, LLC purchased Scenic Self Storage (pictured above) located at 1130 North Scenic Highway in Lake Wales, FL. Cameron Vale and Ryan Clark represented the seller. Scenic Self Storage, situated on approximately 6.68 acres of land, houses a total of 46,170 net rentable square feet and 303 total units. Lake Wales Storage, LLC is based in Dunedin, FL.
Marcus & Millichap reports:
- Brandon Karr of the company’s office in Fort Worth, TX, represented the buyer and seller of a portfolio of three Guardian Storage facilities in Odessa, TX. An unidentified investment group in Texas purchased the portfolio from a private investor. The purchase price wasn’t disclosed. The portfolio, built in 2000, features 823 units and a two-bay car wash across 143,000 rentable square feet, along with room for expansion.
- Thomas Parsons and Adam Schlosser of the company’s office in Denver, CO, represented the seller of Flower Mound Self Storage in Flower Mound, TX. The buyer and seller weren’t identified. The purchase price wasn’t disclosed. The facility, at 2400 Victory Drive, comprises 197 units across 27,490 square feet. The facility now operates under the IN Self Storage brand.
- The Hatcher Group of the company’s office in Columbus, OH, closed the sale of Shallotte Secure Storage in Shallotte, NC. The buyer and seller weren’t identified. The purchase price wasn’t disclosed. The facility, at 230 Mulberry St., provides 444 units in 58,250 net rentable square feet.
One South Commercial (Richmond, VA) reports:
Chesdin Storage LLC bought a self-storage facility in Dinwiddie, VA, from Chesdin Self-Storage LLC for $2.1 million, according to the Richmond Times-Dispatch. The facility, on 3.66 acres at 23150 Airpark Drive, offers 312 units in 45,850 square feet. Tom Rosman, Ann Schweitzer Riley and Lory Markham represented the seller.
Strategic Storage Growth Trust II Inc. (Ladera Ranch, CA) and EquiCap Commercial LLC (St. Charles, IL) report:
The REIT, sponsored by SmartStop Self Storage REIT Inc., purchased Capitol Drive Self Storage in Milwaukee, IL, through a certificate-of-occupancy deal. The seller wasn’t identified. The purchase price wasn’t disclosed. The facility, on 3.95 acres at 3420 W. Capitol Drive, features 770 units in 83,310 net rentable square feet. Jesse Luke and Scott Rihm of EquiCap Commercial closed the deal.