Steve Mellon of the JLL Capital Markets office in Houston and Brian Somoza of the Los Angeles office, represented Austin, TX-based LockTite Storage in the sale of a nine-facility portfolio in Texas to Greenwood Village, CO-based National Storage Affiliates Trust. The purchase price wasn’t disclosed. The facilities are in the Houston metro area (Conroe, Deer…
U-Haul is bringing the party to Marietta, GA for the Fourth of July. The company is holding a grand opening of a new facility it converted from a midcentury Chevrolet dealership. The dealership closed in 1988 and variety of other tenants moved in and out until U-Haul purchased the property in 2017. The facility has…
Talonvest Capital Inc. recently completed the negotiation of a $48.4 million refinance bridge loan. Nothing unusual there; Talonvest is currently negotiating transactions worth between $7 million and $125 million. But a note of caution from Thomas Sherlock, one of Talonvest’s three principals. “The demand for this type of loan from borrowers is increasing, but the…
Over the course of last year, self-storage marketplace SpareFoot merged with industry software providers SiteLink and storEDGE. Now the combined companies have united under a newly formed brand identity called Storable. Storable, which also includes recent acquisition Select Merchant Solutions, bills its self as a “technology-first” provider of a “suite of solutions designed to empower…
GreenSpace plans to build a 100,000-square-foot self-storage facility that uses surplus shipping containers in Pearland, TX, on a 2.4-acre parcel it recently purchased. The project will be its second facility in Pearland, completing its first last year. The company said it plans to develop 50 storage facilities in the next seven years. “We are aggressively…
Zachary Urow and Ryan Clark of Tampa, FL-based SkyView Advisors represented the seller of Superior Storage in Cheyenne, WY. The buyer was Storage Star. The seller wasn’t identified. The purchase price wasn’t disclosed. The facility, on 6.44 acres at 4405 Van Buren Ave., features 493 units in 99,700 net rentable square feet. Marcus & Millichap…
New York City, NY-based alternative investment firm Angelo Gordon & Co. LLP recently raised more than $2.75 billion for a new real estate fund. And it’s almost a certainty that some of that money will flow into the self-storage sector. Primarily through off-market transactions, Angelo Gordon invests in various segments of commercial real estate, including…
A mixed-use project with apartments and self-storage – the latter with a four-story building with 100,000 square feet – could be coming to Willard Road in Norwalk, CT, as Frontier Communications wishes to move its vehicle dispatch center off of Willard Road to the former FedEx site on Meadow Avenue. Amendments to the city’s zoning…
Nick Walker and Trevor Roberts of CBRE’s office in downtown Los Angeles, CA, represented seller Aim All Storage in the sale of a three-facility portfolio in Southern California. The buyer was Los Angeles-based Barker Pacific Group Inc. The purchase price wasn’t disclosed. In total, the portfolio features 253 units across 334,966 square feet, plus 136,402 square feet…
Two vacant buildings in Saginaw Township, MI, will be turned into self-storage facilities. In March, Star Saginaw LLC bought the former Value City furniture store building (140,000 square feet) on Bay Road, which has been vacant for about 10 years. Across the street is a CubeSmart site that formerly was a Kmart. Also, Storage of America…
