Extra Space Storage spent $18.2 million to buy a newly built, climate-controlled self-storage space inside the Metropolitan Washington, D.C. Beltway at 7618 Marlboro Pike in District Heights, MD. Big Cypress Capital of Naples, FL, along with its Headwaters Strategic Operator Platform and Strategic Operator partner PSG in Baltimore, MD, completed the sale. The facility has 110,000 square feet, 900 units and a three-story building, which was completed in June. The sale was Headwaters’ first self-storage facility realization for its six-property, 655,000-aggregate-square-foot portfolio. Source: PR Newswire
Sonoma, CA-based JLL Arizona Self Storage LLC purchased Envy Self-Storage RV of Gilbert, AZ in an off-market deal. It was part of a 1031 exchange, giving favorable tax treatment to capital gained from a property sales if it’s reinvested in a like-kind property. Denise Nunez and Victoria Filice of NAI Horizon represented the seller, 202 Storage, in the transaction. The property is located on Lindsay and Germann roads. Besides self-storage units, the facility also has RV and boat storage, and is adding 39 covered parking spaces. Source: Phoenix Business Journal
New York City-based Andover Properties LLC (dba Storage King USA) purchased Storage 365 in Garland, TX. It was Andover’s third buy in the Dallas-Fort Worth MSA and 12th in the state. The existing building has 885 units and 80,250 net rentable square feet.
Andover also purchased CubeSmart Self Storage in Phoenix, AZ, its third buy in the Phoenix MSA and its eighth in the state. It’s at the intersection of West Glendale Avenue and North 19th Avenue. It has 700 units and 72,388 net rentable square feet. Source: Andover Properties LLC
Montgomery Self Storage bought two properties, in Conroe and Magnolia, TX. Montgomery Self Storage-Lake Conroe (formerly My Storage Locker Conroe) is at 14545 Highway 105 W., Unit B. Conroe Montgomery Self-Storage Magnolia (formerly Stuff Hotel Magnolia), is at 33319 Bear Branch Lane). Storage options include climate-controlled and non-climate-controlled units. Source: Community Impact
Haggar Group purchased Dona Ana Storage in Las Cruces, NM. It has 273 non-climate-controlled units and 35,525 square feet. The LeClaire-Schlosser Group of Marcus & Millichap brokered the sale. The exclusive listing was held by Thomas Parsons, senior investments associate, and Adam Schlosser, senior vice president investments, in Marcus & Millichap’s Denver office, with assistance from Matthew Reeves, senior associate, in the Albuquerque, NM office. Source: Marcus & Millichap
Marcus & Millichap also arranged the sale of Interstate Mini Storage, a 106,883-square-foot self-storage facility in Gainesville, FL. Meir D. Perlmuter, Nathan Coe, Brett R. Hatcher and Gabriel Coe, investment specialists in the company’s Columbus, OH office, had the exclusive listing and also found the buyer. Ryan Nee, Florida division manager and broker of record, helped close the transaction. Interstate Mini Storage, located about 2.5 miles southwest of the University of Florida, has 518 climate-controlled units and 313 non-climate-controlled ones, totaling 106,883 net rentable square feet. Source: Marcus & Millichap
In addition, Marcus & Millichap arranged the sale of JMC Self-Storage Portfolio, which has 92,275 square feet and 793 combined units in southern Maine. Nathan Coe, Brett R. Hatcher and Gabriel Coe, investment specialists in Marcus & Millichap’s office in Columbus, OH, had the exclusive listing. James Koury, Maine broker of record, helped the transaction. The seller is an LLC. Source: Marcus & Millichap
10 Federal, whose third acquisition company raised $7.4 million in 18 days, has spent some of that money. 10 Federal acquired the All American self-storage facility, which has 161 storage units in McDonough, GA as well as Attics Storage’s facility, with 234 units, in Newnan, GA. 10 Federal plans to add 92 units to the latter property. Midcoast Properties Inc. of Hilton Head Island, GA, sold Attics Storage, 554 Corinth Road, just north of I-85 and 40 miles southwest of Atlanta. It sits on 2.11 acres, and has more than 230 standard and climate-controlled units. Michael Morrison of Midcoast represented the seller. Source: PR Newswire
Bellomy & Co. of Austin, TX handled the sale of CubeSmart West Houston at 17114 Clay Road in Houston, TX to Public Storage. The seller was Howard Developments LLC of Austin, TX. The facility includes two three-story buildings, 81,576 net rentable square feet and 765 units. Source: Bellomy & Co.