Michael Morrison of Hilton Head Island, SC-based Midcoast Properties Inc. arranged the sale of a two-facility portfolio in South Carolina. The buyer was an unidentified national investor; the seller wasn’t identified. The purchase price wasn’t disclosed. Riverchase Self Storage, at 115 Riverchase Way in Lexington, SC, and Summit Self Storage, at 854 Edgefield Road in…
Developers Casey Brock and Tony Berry hope to create something special – “a modern version of yesterday’s warehouse” – as construction begins on its new self-storage facility at 1861 Ashley River Road in Charleston, SC. It will have 675 climate- and humidity-controlled units, and 96,000 square feet, with CubeSmart as manager. “Our objective was to…
Coda Management Group plans to build a self-storage facility at 535 E. Third St. in the Webster Station neighborhood of Dayton, OH. Coda affiliate Platform III Third LLC purchased a former warehouse of 86,640 square feet dating to 1913 that sits on the site. Scott Krone, Coda’s managing partner, hopes to finish the build by…
Holliday Fenoglio Fowler LP (HFF) represented the seller of Charlotte Pike Storage in Nashville, TN. The buyer was Charlotte, NC-based Proffitt Dixon Partners LLC; the seller was Dallas, TX-based Provident Realty Advisors Inc. The Nashville Post reported the sale price was $16.1 million. The facility, on 1.49 acres at 512 26 Avenue North, encompasses 952…
Storage Vault has further solidified its position as Canada’s largest self-storage owner and operator with its recent acquisition of the 38-property Real Storage portfolio controlled by a Toronto investment management company. The $204 million purchase ($275 million in Canadian dollars) of Real Storage is just the latest acquisition by Storage Vault, which has now completed…
Elevation Capital Group’s MHPI VII LLC, better known as Fund 7, attracted more than 500 members and raised $100 million in subscriptions since launching in April 2017. That’s a fast raise, and fund managers have announced they have raised the maximum offering amount by $50 million, to $150 million in total. Elevation, a real estate…
Storage Deluxe plans to build a nearly 220,000-square-foot self-storage building after buying a one-story warehouse at 74 Bogart St. in East Williamsburg, Brooklyn, NY. The company bought the warehouse for $45.5 million and plans to demolish it, then build a seven-story facility with about 4,000 units. Storage Deluxe said it will spend $50 million-plus on…
Dave Knobler of Marcus & Millchap’s office in Houston, TX, and Charles “Chico” LeClaire of the company’s office in Denver, CO, represented the seller of Storage Place of Katy in Katy, TX. The seller was an unidentified partnership in the Houston area; the buyer wasn’t identified. The purchase price wasn’t disclosed. The facility, on 8.58…
Las Vegas-based Crystal View Capital is making a bigger move into the self-storage industry with its latest private equity fund, Crystal View Capital Fund II. The $35 million fund is focused exclusively on buying self-storage and manufactured home properties across the Western U.S. To date, 60 percent of its growing portfolio is comprised of self-storage…
In Lorain, OH, the Zoning Board of Appeals approved a conditional-use permit that would enable TDI Lorain LLC to install about 300 storage units in a section of Lorain Plaza Shopping Center, 1089 Meister Road. It will be called Defender Self-Storage. “I think we’ve seen (this kind of project) in other shopping projects where retail…
