Andover Properties purchased Storage King USA on Dec. 5. The latter is located at 13397 Camino Real in Niederwald, TX. It has 68,400 square feet of drive-up storage and covered RV spaces. Andover plans to expand the facility by 100,000 square feet. Source: Community...
Acquisitions
Sold! U-Haul buying 78 locations from W.P. Carey for $465 million
W.P. Carey is selling 78-facilities to U-Haul affiliates for a total of $465 million. The publicly traded REIT had previously leased the sites to U-Haul for the last 20 years. The portfolio spanned 69 cities in 24 states. The proceeds will boost W.P. Carey's...
Sold! Hearthfire enters Oklahoma market with Tulsa self-storage purchase
Hearthfire entered the Oklahoma market by purchasing 2817 N. Peoria Ave. in Tulsa. The site has 22,900 square feet spread across 11 acres that is planned to expand to 86,000+ square feet and 800+ units, with both climate- and nonclimate-controlled units. Hearthfire...
Sold! DXD Capital snaps up 7-property portfolio in Colorado
DXD Capital, a New Mexico self-storage private equity firm, purchased the Hill & Homes Self-Storage portfolio in Colorado's western slope. The portfolio has 135,050 square feet across seven buildings, which house 922 units. Thomas Parsons, first vice president of...
Sold! Devon Self Storage sells majority stake to Inland Real Estate
The Inland Real Estate Group of Companies is buying a majority interest in U.S. self-storage operator Devon Self Storage Holdings. Devon, founded in 1988, manages 202 properties and about 109,000 units nationwide. It has owned, managed or developed more than 350...
Sold! 10 Federal adds two facilities to its remotely-managed storage portfolio
10 Federal, which operates a portfolio of remotely-managed self-storage facilities recently acquired two storage properties in Tennessee and Texas. The company also announced it surpassed $16 million in Q4 fundraising with its fourth self-storage offering. The company...
Sold! Blumenfeld Development buys two Queens facilities for $122 million
Blumenfeld Development Group of Syosset, NY, which is part of Long Island, paid $122 million for two self-storage properties in Flushing and Woodside, both in Queens. The company purchased the 159,000-square-foot 34-09 College Point Blvd. in western Flushing for $72...
Sold! Out-of-state buyer scoops up South Carolina storage site
Midcoast Properties Inc. announced the sale of Capstone Self Storage at 561 N. Pike East in Sumter, SC. An out-of-state buyer made the purchase. Midcoast’s Michael Morrison represented the seller. The facility sits on 2.1 acres and has 84 drive-up units spread across...
Sold! SecureSpace purchases managed self-storage facility in Pennsylvania
SecureSpace Self Storage purchased an existing self-storage property in Blue Bell, PA, which SecureSpace previously managed. SecureSpace Blue Bell is its name and it’s located in a Philadelphia suburb. The three-story facility at 1950 Skippack Pike offers 78,097...
Sold! Gelt sells 677-unit self-storage asset in Pasadena
Gelt Ventures announced the sale of South Pasadena Storage, a 677-unit self-storage facility in South Pasadena, CA for an undisclosed price to an institutional buyer. The six-building property includes 642 indoor storage units, 34 outdoor rental spaces, a live/work...