AKA Partners, a Murray, UT-based real estate company, purchased the Storage Depot in West Memphis, AR for $8,875,000. The buyer has plans to expand the facility on the adjacent 3-acre parcel. The seller was DSB of West Memphis, a partnership of David Reagler, Scott Ferguson and LaRand Thomas.
Larry Goldman of RE/MAX Commercial and a member of Argus Self Storage Advisors arranged the sale. The buyers have tapped Argus Management to manage the facility. Barclays provided a CMBS loan to fund the deal.
Bellomy & Co reports the following:
An unnamed buyer based in Minneapolis purchased Stagecoach Storage, a two-facility portfolio in Vermillion and Elk Point, South Dakota. The portfolio consisted of 174 non-climate units and two warehouse units totaling 48,000 net rentable square feet. The facilities were 67% occupied. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Omaha, Nebraska based seller, in addition to procuring the buyer.
Cushman & Wakefield reports the following:
An undisclosed institutional investor acquired Upland Self Storage, an 834-unit self-storage facility located in Upland, CA. Mike Mele, Luke Elliott and Devin Beasley of Cushman & Wakefield’s Tampa, FL-based Self-Storage Advisory Group represented the seller, Bernie Svalstad, in the transaction. The 70,570-square-foot facility sits on 5.2 acres at 135 South Campus Avenue. The property was 87% occupied.
Marcus & Millichap report the following:
- An unidentified buyer purchased the two-property All Safe Mini Stor-It portfolio in the Milwaukee metro area for an undisclosed price. The facilities span a combined 76,484 square feet. Brian Kelly, Brett Hatcher and Gabriel Coe of the firm’s Columbus office represented both buyer and seller. Todd Lindblom, regional manager and broker of record, assisted in closing this transaction. The facilities are located at N14W24789 Bluemound Road in Pewaukee and 1515 Manhattan Drive in Waukesha, WI. Together they offer 548 units.
- An unnamed buyer purchased Double A Storage in St. Marks, FL for an undisclosed price. The 23,800-square-foot facility at 630 Port Leon Drive features 56 non-climate-controlled units, 56 boat storage units, two offices and a hair salon. Meir D. Perlmuter, Nathan Coe, Brett R. Hatcher, and Gabriel Coe, represented the seller. Ryan Nee, district manager and broker of record with Marcus & Millichap, assisted in closing this transaction.