DealPoint Merrill has bought a former Kroger-anchored shopping center that sits on 13.5 acres at 13333 Eureka Road, Southgate, MI. Its plans include converting a 109,000-square-foot building into a large CubeSmart self-storage facility with 1,112 indoor units in 90,275 square feet and a 24,500-square-foot building with 200 units of outdoor drive-up self-storage. Construction will start…

Strategic Storage Trust IV Inc., a public non-traded REIT affiliated with Ladera Ranch, CA-based SmartStop Asset Management LLC, purchased a six-facility self-storage portfolio in the Houston, TX, metro area and nearby College Station, TX, from Cypress, TX-based Metro Mini Storage Inc. The purchase price wasn’t disclosed. The portfolio comprises 3,400 storage units and 200 RV…

A pair of Lock It Up Self-Storage facilities in Northern California have changed hands in separate deals totaling $27.8 million. An unidentified multifamily investor purchased the 517-unit facility at 220 W. Ahwanee Ave. in Sunnyvale, CA; it has 44,781 net rentable square feet. The purchase price was $15.5 million. Meanwhile, an unidentified private investor purchased the…

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Two related self-storage REITs, Strategic Storage Growth Trust Inc. and Strategic Storage Trust II Inc., are merging in a stock-and-debt deal valued at $340 million that would bring ownership of more than 100 self-storage facilities under one umbrella. The $12-per-share deal materialized after Strategic Storage Growth Trust explored “strategic alternatives.” The boards of the two…

Charlotte, NC-based Madison Capital Group LLC purchased The Vault on 17th in Wilmington, NC, from The Vault on 17th LLC for $8 million, according to WilmingtonBiz.com. The seller comprises several principals at GHK Cape Development LLC and Crete Investments LLC, both based in Wilmington. The 76,000-square-foot, 552-unit facility is at 1113 S. 17th St. The…

Store Space Self Storage has sprinted out of the gate after opening shop last spring. The company is spearheaded by Chris Harris and Rob Consalvo, former executives at iStorage. The Orlando, Florida-based company already is operating seven locations in its home state, Texas and Indiana, and recently purchased three more properties in Philadelphia. What enabled…