An LLC led by Steve Juiris of North Carolina purchased nine self-storage facilities in Arkansas from LLCs controlled by Patrick Byrd and Alex Baumeister of Arkansas for $30.3 million, according to the Northwest Arkansas Business Journal. The facilities encompass about 600,000 square feet and 4,000 units. The facilities are: Blue Mountain Storage, 8231 Trafalgar Road,…

Raleigh, NC-based 10 Federal Storage LLC purchased two Store-It-Right facilities in Virginia from an unidentified seller for an undisclosed amount. The facilities are at 2399 Leake Square in Charlottesville, VA, and 15142 Spotswood Trail in Ruckersville, VA. The square footage and unit counts weren’t available. An unidentified investor purchased Nandua Mini Storage in Tasley, VA, for…

Matthews, NC-based Morningstar Properties LLC purchased a portfolio of three Devon Self Storage-managed facilities in Georgia and South Carolina from an unidentified London-based investment fund for an undisclosed amount. The portfolio spans 216,542 net rentable square feet with 1,473 units and 155 rentable outdoor parking spaces. The facilities are at 6012 Ogeechee Road in Savannah,…

Public Storage purchased a Life Storage facility in Arvada, CO, from an unidentified LLC. The purchase price wasn’t disclosed. The facility, at 14872 W. 69th Ave., features 637 units in 64,320 square feet. Adam Schlosser and Charles “Chico” LeClaire, both of The LeClaire Group at Marcus & Millichap’s office in Denver, CO, represented the seller….

Maybe millennials aren’t such minimalists after all. Self-storage demand continues to remain high in U.S. markets that have cultivated a following among millennials, according to the November 2018 self-storage report from real estate data provider Yardi Matrix. The report says self-storage development activity  (planned and under construction) is percolating in several metro areas that draw…

Property taxes already are a pain in the budget for self-storage operators, but that pain could become unbearable for operators of facilities in California. Self-storage operators are keeping a wary eye on a proposal that would overhaul California’s property tax structure — and would bump up property tax bills for their Golden State facilities. One…

U-Haul parent company Amerco Real Estate Co. purchased a recently built facility in Nashville. The 1,058-unit facility at 506 Fesslers Lane was completed in March by the seller, Lexington, KY-based Andover Management Group. The property previously operated as Citadel Self Storage. HFF represented the seller in the transaction. The purchase price was not disclosed. Red Dot…