The Loeffler Self-Storage Group sold Executive Mini Storage, located in Sacramento, CA, for $3.55 million. Bobby Loeffler represented the buyer, Safe-Hold Storage LLX, in the transaction. Executive Mini Storage has 259 units and 24,520 net rentable square feet on 1.53 acres along Freeport Boulevard, and is across the street from Sacramento Executive airport. It has seven single-story buildings, plus a manager’s office and residence.
Source: Loeffler Self-Storage Group
7A Budget Mini Storage, 1830 N. 7th Ave. in Tucson, AZ was sold at an undisclosed price. The seller was a partnership of three investors who had exchanged into this property. The buyer was an out-of-state investment group that owns about 40 other storage facilities nationwide. Bill Alter, managing director of the Self-Storage Specialty Group at Rein & Grossoehme Commercial Real Estate, based in Arizona, represented the seller in the deal. 7A Budget has nine buildings totaling 30,208 square feet and 279 units (65 climate-controlled). The property, built in 1972, sits on 1.74 acres. Source: Bill Alter
Attorney Thomas Voekler, his wife Jill Voekler and brother Chris Voekler bought Leadbetter Mini-Max Storage in Richmond, VA for $3.15 million. The purchase includes six storage buildings and two structures for office flex space, spread over 6 acres. Thomas Voekler is a partner at the law firm of Kaplan Voekler Cunningham & Frank. The deal happened off-market. The Leadbetter name will be changed to Ashland Office and Mini-Storage. Source: Richmond BizSense
SpareBox Storage bought seven self-storage properties in Waco, TX, adding more than 700,000 net rentable square feet to its portfolio. Steve Treadwell heads up Rizk Ventures, which sponsors SpareBox Storage. Source: Business Wire
Extra Space Storage bought a two-property self-storage portfolio in the Dallas-Fort Worth area from Rearden Capital Corp. Marcus & Millichap represented the seller. Extra Space Storage was already managing the sites. Combined, the two facilities total 162,960 rentable square feet and 1,321 climate-controlled units in Corinth and Fort Worth. The Corinth property has four three-story buildings at 3931 FM 2181 near Interstate 35 East, with 557 units. The Fort Worth property, 6021 North Freeway, has 764 units in a three-story structure and 66,037 rental square feet. Source: Multi-Housing News
- Marcus & Millichap also sold the Econo Self Storage portfolio, comprised of 114,280 square feet at 10630 W. 133rd Ave. in Cedar Lake, IN. Sean M. Delaney, senior vice president, and Jeffrey L. Herrmann, senior associate, who are investment specialists in Marcus & Millichap’s Chicago Oak Brook office, marketed the property. The seller is a partnership and an LLC was the buyer represented by Herrmann and Delaney. Josh Caruana, broker of record in Indiana, helped make the transaction.
Source: Marcus & Millichap
Nick Malagisi and Hans Hardisty of SVN’s National Self-Storage Brokerage and Consultant Council completed a seven-property sale of one-story buildings, all of them in New Jersey. The portfolio totals 393,400 net rentable square feet and 3,147 units. Two of the seven are expansion projects. Source: SVN
Jesse Luke and Scott Rihm of EquiCap Commercial, along with Bruce Bahrmasel of Argus Self Storage Advisors, closed the sale of Team Storage at 114 N. Military Ave. in Green Bay, WI. Team Storage has 116,038 net rentable square feet and 472 units. Source: EquiCap Commercial
Andover Properties, dba Storage King USA, purchased Move It Storage in Sherman, TX. That was Andover’s 10th buy in the Dallas-Fort Worth MSA and 19th in the state. The one-story property has 55,675 net rentable square feet, and 366 climate-controlled and drive-up units. Sherman is about 40 minutes north of Dallas. Source: Andover Properties
VanWest Partners in Denver, CO bought two self-storage facilities with its newest fund, VanWest Self Storage Fund II LLC. The properties are in Shelby, NC and Hickory NC. The portfolio totals 219,000 net rentable square feet and 1,570 units, including 127 boat and RV parking spaces. VanWest plans to rebrand the properties under its ClearHome Self Storage name. VanWest now owns and operates self-storage facilities in eight states. Overall, VanWest and its affiliates have invested in 30 self-storage projects totaling 1.8 million rentable square feet and more than 15,000 units.Source: PR Newswire
Bellomy & Co. sold a CubeSmart in Austin, TX, located about eight miles from downtown Austin. Bill Bellomy and Michael Johnson of Bellomy & Co. represented Bulldog I-35 South LP, the seller. They also represented the buyer, PG Cactus Bulldog I LLC. The property has 463 units totaling 57,707 net rentable square feet, and it opened in 2019. Source: Bellomy & Co.