Brookfield Asset Management entities paid a combined $90 million for three properties in Brooklyn, NY: The company bought a 67,000-square-foot self-storage building at 235 Park Ave. in Clinton Hill, Brooklyn, for $32 million. Maddd Equities, Joy Construction and Cayre Equities sold the four-story building, also known as 45 Clinton Avenue, which they bought in 2018…
True Storage completed a 455-unit self-storage facility in Warwick, RI. CubeSmart manages the 60,000-square-foot property, formerly a manufacturing facility for Interplex, a technology and engineering firm based in Singapore. True Storage bought the property in September 2021 when Interplex relocated. True Storage is a New Hampshire company. Source: REBusiness Online Leon Holding Co., based in Kalispell,…
SurePoint plans to develop a 744-unit self-storage facility in Conroe, TX inside Johnson Development’s Grand Central Park master-planned community in northern Houston. CubeSmart will manage the facility, which will have about 94,000 NRSF of climate-controlled space. Construction begins this fall and completion is planned for May 2023. The facility will be SurePoint’s 14th self-storage site…
Wildflower, owned by developer Adam Gordon, sold a 3,300-unit, 130,000-square-foot facility it built at 3350 Park Ave. in the Morrisania section of the Bronx to Atlanta-based Storage Post for $65 million. Wildflower bought the property in 2017 for $9 million, then developed the storage facility on the site. Source: The Real Deal The three-story Extra…
SmartStop Self Storage REIT Inc., based in Ladera Beach, CA, will merge with Strategic Storage Growth Trust II Inc. with the latter merging into a newly formed subsidiary of SmartStop. The combined company with have 150 operating properties with 11.5 million NRSF and 100,500 units. SmartStop will acquire all of SSGT II’s real estate, comprised…
The Delaware City Council approved West Delaware Storage LLC’s preliminary development plan request for a 101,200-square-foot facility on an 11-acre site on the south side of Pittsburgh Drive. The Delaware Planning Commission approved the project on Feb. 2. It would include 11 storage buildings ranging from 1,800 to 12,000 square feet, with 500 units –…
10 Federal had a very busy Feb. 17th. That day, the 10 Federal Self Storage Acquisition Company 1 LLC sold the remaining eight properties in its first investment fund to Frigatebird Investments, finishing the liquidation of all remaining self-storage assets. The company also sold from its other investment funds four Georgia locations to Frigatebird and…
KKR bought three self-storage properties in three states, totaling about 2,000 units, for $70 million in three transactions. The properties are in Atlanta, GA; St Petersburg, FL; and Alexandria, VA. The buys were KKR’s first self-storage real estate acquisitions in the St. Petersburg and Washington, D.C. areas. KKR’s Americas did the purchases through its equity…
In New York, the Yonkers Industrial Development Agency approved financial incentives for a $15.4 million CubeSmart self-storage project at 1060 Nepperhan Ave., to be built by KCT Inc., and preliminary approval for financial incentives to a $15.8 million self-storage project at 1969 Central Park Ave. The CubeSmart project involves finding another home for the current…
SmartStop Self Storage REIT Inc. bought a self-storage facility at 1910 E. Algonquin Road, in Algonquin, IL. It’s SmartStop’s sixth owned or managed location in the Chicago market and 163rd in North America. It has 900 units spanning 109,000 feet and offers both climate-controlled and non-climate-controlled units. Source: Business Wire Go For It Storage purchased…
