This page is an archive of self-storage acquisition news from January 2021.

Acquisition news from 1/27/2021

JLL reports the following:

Buyer: National Storage Affiliates
Seller: The Jenkins Organization
Number of locations: 14 facilities
Location: Texas, Minnesota, and Missouri
Net square footage: 845,401
Number of units: 8,517
Brokers involved: Steve Mellon, Brian Somoza, David Berglund, and Blaise Tomazic of JLL represented the seller.
Sales price: Not provided

Marcus & Millichap reports the following:

Buyer: A limited LLC with several apartment complexes in the area
Seller: Local owner/operator
Facility name: Stor-alot Self Storage
Location: 201 Terminal Road in Clarksville, TN
Net square footage: 53,700 sq.ft.
Number of units: 338 units
Brokers involved: Anne Williams represented the seller and procured the buyer.
Sales price: Not provided

Andover Properties reports the following:

Buyer: Andover Properties LLC dba Storage King USA
Facility name: StoreSmart Self Storage
Location: Rockledge, FL
Net square footage: 107,081 sq.ft.
Sales price: Not provided
Notes: Deal marks company’s 24th facility in Florida.

Pinnacle Storage Properties reports the following:

Buyer: Pinnacle Storage Properties (Katy, TX)
Facility name: Pine Bluff Storage
Location: 3009 W Pullen Street in Pine Bluff, AR
Net square footage: 31,300 sq.ft.
Number of units: 200 units
Sales price: Not provided
Notes: Property will operate as Storage Plus of Pine Bluff. A 35,000 sq.ft. expansion is planned. NFL player Roderick Robinson is a major investor.

Barker Pacific Group reports the following:

Buyer: Barker Pacific Group and Artemis Partners
Seller: Not provided
Number of facilities: Three
Locations: Two of the properties are located in Gilbert, while the other is in Tramonto (North Phoenix).
Net square footage: 234,350 sq.ft.
Number of units: 2,189 units
Sales price: Not provided
Notes: After the November 2020 acquisition of Life Storage N. 16th Street, this marks the
JV’s second foray into the Phoenix market bringing the total to four self-storage
facilities jointly acquired by BPG and Artemis in the Phoenix metro area. The facilities are branded by Extra Space Storage.

Acquisition news from 1/20/2021

Skyview Advisors report the following:

Buyer: Not provided
Seller: Not provided
Facility: A&W Storage
Location: 4800 & 4900 South Sunnylane in Oklahoma City, OK
Net square footage: 88,020 sq.ft.
Number of units: 388 units
Brokers involved: Zachary Urow, Richard Riddle, and Ryan Clark
Sales price: Not provided

Buyer: Not provided
Seller: Not provided
Portfolio Name: 603 Self-Storage Portfolio
Number of locations: 12 facilities
Location:
New Hampshire
Net square footage: 325,914 sq.ft.
Number of units: 2,453 units
Brokers involved: Richard Riddle and Ryan Clark
Sales price: Not provided

Meridian Storage Group reports the following:

Buyer: A national operator
Seller: A private company
Facility Name: River Point Storage
Location:
1006 Philema Road in Albany GA
Net square footage: 56,600 sq.ft.
Number of units: 388 units
Brokers involved: Patrick Kidder represented seller and secured purchaser
Sales price: Not provided
Notes: The facility features a physical occupancy of 98%

Multi-Housing News reports the following:

Buyer: Not provided
Seller: Not provided
Facility Name: Cajun Self Storage
Location: 
2935 FM 521 in Fresno, TX
Net square footage: 104,800 sq.ft.
Number of units: 524 units and 139 vehicle spaces
Brokers involved: Marcus & Millichap team members Gabriel Coe, Tim Speck, Brian Kelly, Brett Hatcher and Jack Newman represented both buyer and seller.
Sales price: Financed with $7.9 million loan from Texas Bank
Notes: The facility features a physical occupancy of 98%

Coldwell Banker Commercial Atlantic reports the following

Buyer: Undisclosed national REIT
Seller: Coastal Storage Group and Miller-Valentine Group
Location: Highway 707 in Murrell’s Inlet, SC
Net square footage: 72,000 sq.ft.
Number of units: Not provided
Sales price: Not disclosed
Notes: Completed March 2019

Buyer: Extra Space Storage
Seller: Coastal Storage Group and Miller-Valentine Group
Location: 2072 Western Avenue in Knoxville, TN
Net square footage: 80,000 sq.ft.
Number of units: Not provided
Sales price: Not disclosed
Notes: Completed August 2019

Andover Properties reports the following

Buyer: Andover Properties LLC (dba Storage King USA)
Seller: Not disclosed
Facility name: Security Self Storage
Location: On US-90 in Pace, FL
Net square footage: 72,290 sq.ft.
Number of units: Not provided
Sales price: Not disclosed
Notes: The deal marks Andover’s fourth acquisition in the Pensacola

Acquisition news from 1/13/2021

CBRE Global investors reports the following:

CBRE Global Investors and The William Warren Group purchased a portfolio of four properties from various sellers for $53.5 million. The purchases offer a combined 2,165 self-storage units. All facilities will be rebranded under the StorQuest banner.

The assets are as follows:

  • 20825 W. McDoweel Road in Buckeye, AZ
    Seller: Hines Developments
  • 4700 S. Val Vista Drive in Gilbert, AZ
    Seller: Hines DEvelopments
  • US Highway 19 N. in Tarpon Springs, FL
    Seller: NitNeil Partners
  • 588 N. State Road in Briarcliff Manor, NY
    Seller: Good Friend Management

Multi-Housing News reports the following:

Buyer: Westport Properties and Heitman
Seller: SSG Development
Location: 540 Hillside Avenue in Needham, MA
Net square footage: 92,500 sq.ft.
Number of units:  970 units
Sales price: $25.1 million
Notes: Financing arranged by Talonvest Capital. Nassau CorAmerica originated $15.7 million loan for buyer.

Safeguard Self Storage reports the following:

Buyer: Safeguard Self Storage
Seller: DealPoint Merrill
Facility: CubeSmart
Location: 20 N. Middletown Rd in Nanuet, NY.
Net square footage: 51,800 sq.ft.
Number of units: 685 units
Sales price: $18.3 million
Notes: Marks the companies 77th operating property nationwide, and 32nd in the New York metro area. Property will be rebranded as Safeguard Self Storage.

NAI Horizon reports the following:

Buyer: Vault at Old Vail Road
Seller: America’s Best Self Storage LLC
Location: 7475 E. Old Vail Road in Tucson, AZ
Net square footage: Not provided
Number of units: Not provided
Brokers involved: Denise Nunez and Victoria Filice
Sales price:
$3.2 million

B&C Storage reports the following:

Buyer: B&C Storage
Seller: Not provided
Facility: Stor-Haus
Location: 1124 Vine St. in Liverpool, NY
Net square footage: Not provided
Number of units: Not provided
Sales price: Not provided
Notes: Marks the company’s 17th acquisition in Central New York.

Argus Self Storage Advisors reports the following:

Buyer: California-based buyer not identified.
Seller: Unidentified
Facility: A&G Mini Storage
Location: Flagstaff, AZ
Net square footage: Not provided
Number of units: Not provided
Brokers involved: 
Jeff Gorden represented the seller
Sales price: $1.6 million

Buyer: Out-of-state buyer not identified
Seller: An unidentified California investor
Facility: Black Canyon Storage and Rimrock Super Storage
Location: Black Canyon City, AZ  and Rimrock, AZ
Net square footage: Not provided
Number of units: Not provided
Brokers involved:
Jeff Gorden represent the seller.
Sales price: $4.6 million
Notes: Buyer financing arranged by Neal Gussis of CCM Commercial Mortgage.

Marcus & Millichap reports the following:

Buyer: Not provided
Seller: A local LLC
Facility: TK Secure Storage
Location: Tremonton, UT
Net square footage: 24,276 sq.ft.
Number of units: Not provided
Brokers involved: 
Jordan Farrer of the Salt Lake City office and Adam Schlosser of the LeClaire-Schlosser Group in Denver represented both parties.
Sales price: Not provided

Bellomy & Co. reports the following:

Buyer: Hats Boat & RV Storage LLC
Seller: Danny Blumrick and Lorraine Blumrick of Sugarland, TX
Facility: Boat & RV Storage of Sugarland
Location: Stafford, TX
Net square footage: 17,388 sq.ft.
Number of units: 46
Brokers involved: 
Bill Bellomy and Michael Johnson represented both parties.
Sales price: Not provided

Buyer: BCORE Storage Jennetta LP (entity of Andover Properties)
Seller: Diehl Investments II LP
Facility: Texas Storage
Location: Rosenberg, TX
Net square footage: 44,718 sq.ft.
Number of units:  335 units
Brokers involved: 
Bill Bellomy and Michael Johnson represented both parties
Sales price: Facility will be rebranded Storage King USA.

InSite Property Group reports the following:

Buyer: InSite Property Group
Seller: Not provided
Facility: SecureSpace Self Storage (new branding)
Location: 16017 SE Division Street in Portland, OR and 3737 NE Columbia Boulevard in Portland, OR (pictured above)
Net square footage: 250,000 sq.ft. combined
Number of units: Not provided
Sales price: $47 million
Notes: Both facilities previously managed by Extra Space Storage. The SE Division Street facility was acquired at C/O, the other facility opened recently.

Acquisition news from 1/7/2021

Loeffler Self-Storage Group reports the following:

Buyer: Family partnership based in Yuba, CA
Seller: Safe-Hold Storage LLC
Facility: Big Sky Discount Storage & Annex
Location: Susanville, CA
Net square footage: 62,980 sq.ft.
Number of units: Not provided
Brokers involved: Bobby Loeffler and Tyler Skelly represented buyer and seller.
Sales price: $2,050,000

Cushman & Wakefield reports the following:

Buyer: In Self Storage
Seller: Not provided
Facility: Storage Solutions on Eaton
Location: Battle Ground, WA
Net square footage: 51,600 sq.ft.
Number of units: 376 units
Brokers involved:
Jim Lewis, Greg Wells, Luke Elliott, Michael Mele represented the seller.
Sales price: Not provided
Notes: New development opened in July 2020.

Buyer: Invesco Real Estate in partnership with Baranof Holdings
Seller: MWIC Parkway LLC and MWIC Turner Road LLC
Facility: Nest Self Storage portfolio
Location: Salem, OR.
Net square footage: 166,877 sq.ft.
Number of units: 1,135 units
Brokers involved:
Greg Wells, Jim Lewis, Luke Elliott, and Mike Mele handled the transaction.
Sales price: Not provided
Notes: 85% occupied at closing. New development.

StorageMart reports the following:

Buyer: StorageMart
Seller: Not provided
Facility: SOS Self Storage of Noblesville and SOS Storage Fishers
Location: Noblesville and Fishers, IN
Net square footage: Not provided
Number of units: Not provided

Bellomy & Co. reports the following:

Buyer: Angelo Gordon Real Estate
Seller: 287 Willow Springs Storage LP of Richland HIlls, TX
Facility: Life Storage
Location: Haslet, TX
Net square footage: 78,950 sq.ft.
Number of units: 623
Brokers involved: 
Bill Bellomy and Michael Johnson represented the seller.
Sales price: Not provided

Buyer: Willis East Storage LLC of Houston, TX
Seller: Pacific View Investments LLC of Hermosa Beach, CA
Facility: A-1 Storage
Location: Willis, TX
Net square footage: 52,680 sq.ft.
Number of units: 242
Brokers involved: 
Bill Bellomy and Michael Johnson represented the seller. Craig Rice and Cole Rice of CSD Realty Company represented the buyer.
Sales price: Not provided

Berkshire Hathaway Storage Group reports the following:

Buyer: Not provided
Seller: Not provided
Facility: Jam’s Mini Storage
Location: Walker, LA
Net square footage: 37.600 sq.ft.
Number of units: 283 units
Brokers involved:
Cameron Vale and Parker Sweet represented the seller and procured the buyer.
Sales price: Not provided

CBRE reports the following:

Buyer: All Storage
Seller: The Davis Group
Location: Fort Worth, TX.
Net square footage: Not provided
Number of units: Not provided
Brokers involved: 
Nick Walker, Nate Holash and Adam Alexander represented the seller.
Sales price: Not provided

Marcus & Millichap reports the following:

Buyer: Not provided
Seller: Not provided
Facility: ABC Self Storage
Location: 1440 Armory Drive in Franklin, VA
Net square footage: 70,750 sq.ft.
Number of units: 551
Brokers involved:
Gabriel Coe and Brett Hatcher represented buyer and seller. Dawson Rinder assisted with the transaction. 
Sales price: Not provided

Buyer: Not provided
Seller: Not provided
Facility: Security Self Storage
Location: 4391 US-90 in Pace, FL
Net square footage: 73,734 sq.ft.
Number of units: 667
Brokers involved:
Meir Perlmuter, Gabriel Coe, Nathan Coe and Brett Hatcher represented buyer and seller. Ryan Nee assisted with the transaction. 
Sales price: Not provided

Buyer: Not provided
Seller: Not provided
Facility: Cajun Self Storage
Location: 2935 FM 521 Road in Fresno, TX
Net square footage: 104,823 sq.ft.
Number of units: 424 units
Brokers involved: 
Brian Kelly, Brett Hatcher, Gabriel Coe, and Jack NEwman represented the seller. Brian Kelly, Brett Hatcher and Gabriel Coe also represented the buyer with assistance from Tim Speck.
Sales price: Not provided
Notes: Built in 2005 and expanded in 2015.

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Alexander Harris