Sold! Self Storage Acquisition News Round Up Archive

This page is an archive of past Sold! columns chronicling the acquisition of existing self-storage properties.

The SpareFoot Storage Beat compiles notices submitted by various real estate brokerage firms, as well as items collected from news publications across the United States.

For the most recent Sold! column, please click here.

Jump to:

2020 Jan. | Feb. | Mar. | Apr. 2019 Nov.Dec.

2020

May 2020

Skyview Advisors report the following:

West Side Storage, a 57,016-square-foot self-storage facility located at 1252 Mina Avenue in Copley, OH recently changed hands. The facility sits on 12.39 acres of land and offers 478 total units. Zack Urow, senior vice president, and Ryan Clark, director of sales at SkyView Advisors represented the seller.

Andover Properties reports the following:

Andover Properties, LLC recently acquired two self storage properties in Phoenix, AZ as part of a joint venture. Combined, the properties total nearly 111,000 square feet of rentable space. Andover Properties will manage the properties under its Storage King USA brand.

Marcus & Millichap reports the following:

  • A private investor purchased the Space Management facility at 920 Cog Circle in Crystal Lake, IL. The 33,840-square-foot self-storage facility traded for an undisclosed price. Jeffrey Herrmann and Sean Delaney of the firm's Chicago Oak Brook office represented the seller, the buyer was secured by Timothy Stephenson, Andrean Angelov and Ryan Engle, also of the Oak Brook office.
  • The LeClaire Group of Marcus & Millichap arranged the sale of East Side Storage and RV Park, a 55,120 square foot storage facility located in Houma, Louisiana. Thomas Parsons, investment associate, and Adam Schlosser, senior vice president investments, in the firm's Colorado office, along with Chris Shaheen, the Louisiana broker of record, represented the seller. The buyer was a private self storage investment group.

Amsdell Companies, operator of Compass Self Storage, purchased the 636-unit self-storage facility at NW 79th Street and NW 2nd Avenue in Miami for an undisclosed amount. The property was sold by 21st Century Storage. The 37,242-square-foot building was converted into a self-storage facility in 2003. Steve Mellon, Brian Somoza and Manny de Zàrraga of JLL represented the seller.

Commercial Property Executive reports the following:

Santa Monica, CA-based William Warren Group purchased the 66,273-square-foot self-storage facility at 5115 Englewood Road in Venice, FL for $8.7 million according to CPE. The purchase was funded by a $6 million loan from Skymar Capital Corp. The property, formerly Storage Venice, has been rebranded under the purchaser's StorQuest brand.

Marcus & Millichap reports the following:

  • Action Mini Storage, located at 3837 Laylin Road in Norwalk, OH, was sold for an undisclosed sum to an unnamed limited liability company. The facility features 193 non-climate controlled units and spans 28,850 square feet. Brett Hatcher and Gabriel Coe of the Columbus office of Marcus & Millichap arranged the sale.
  • The sale of a two property portfolio in Texarkana, TX was handled by The LeClaire Group of Marcus & Millichap, which represented the Florida-based seller.  The CubeSmart-managed facility is located at 927 North Robinson Road and 241 Forest Lake Drive, and offers a combined 571 units and 85,656-square-feet.

 

April 2020

Santa Monica, CA-based William Warren Group purchased Garfield Storage at 1616 E. Portland Street in Phoenix, AZ for $11.9 million. The facility covers 83,710 square feet and offers 740 units. The facility opened in 2017.

Cushman & Wakefield Self Storage Advisory Group brokers Greg Wells and Paul Boyle represented the seller, Hibernia Capital Advisors. The William Warren Group will rebrand the facility under its StorQuest brand.

Skyview Advisors reports the following:

Crews Storage, a self-storage facility located at 5701 Boat Race Rd in Panama City, FL has changed hands for an undisclosed sum. Buyer and seller information was not released. The facility sits on 1.9 acres, features 221 total units, and spans 26,830 net rentable square feet. Zack Urow, senior vice president, and Ryan Clark, director of sales at SkyView Advisors represented the seller.

Sauls Storage Group LLC reports the following:

General Storage in Northeast Valdosta, GA has traded hands. Purchase price and parties to the transaction were not disclosed. The 48,000 rentable square foot storage facility, sold April 8, 2020 at a cap rate of 5.6% based on prior year income and expenses.  The facility is located on East Park Avenue. Sauls Storage Group, an affiliate of Argus Self Storage Advisors, represented the seller.

REBusiness Online reports the following:

StorageMart purchased the Go Storage facility located on 8th Street in downtown Kansas City, MO. Purchase price was not released. The facility offers 310 controlled units and was recently renovated.

The Sauls Storage Group, LLC has purchased Commercial Realty Services of West Georgia. Commercial Realty Services has been the Georgia affiliate of Argus Self Storage Advisors since 2012. The firm was founded in 2006 by retired military armor officer Mike Patterson, CCIM and specializes in brokerage services for self-storage operators. Sauls Storage Group is owned by the mother-son team of Jane H. Sauls, CCIM and Luke Sauls. Jane Sauls has been involved in commercial real estate 2006, including the development and ownership of self-storage facilities. Patterson will continue to serve clients as part of the brokerage. Source: PR.com

StoreLine Self Storage reports the following

StoreLine Self Storage has recently acquired a 9-property portfolio in Wichita Falls, TX. The purchase marks the first acquisition for the newly launched operating company. The portfolio spans 285,464-square-feet and contains 2,454 total storage units. The facilities previously operated under the Saf-T-Loc brand name. Remodeling and expansion is underway at all of the facilities, including new gates, lights and cameras. The locations are as follows

  • 3314 Sheppard Access Road
  • 3224 Seymour Highway
  • 4550 Barnett Road
  • 1408 10th Street
  • 2130 Kell Blvd
  • 4515 Southwest Parkway
  • 2400 Southwest Parkway
  • 4730 Old Jacksboro Highway
  • 1729 Archer City Highway

Marcus & Millichap reports the following:

Secur-It Personal Storage in Columbus, OH was purchased by an unidentified limited lability company for $1.625 million. The 51,100 net rentable square foot self-storage facility is located at at 435 Georgesville Road in Columbus, Ohio. The property features 446 non-climate controlled units and retail spaces. Buyer and seller were represented by Brett Hatcher and Gabriel Coe of the firm's Columbus office.

Law.com reports the following:

Storage Property I LLC sold the 42,858-square-foot self-storage property at 701 S. Homestead Blvd. in Homestead, FL to an unknown buyer for $3.99 million. Source: Law.com

 

The owners of Nofrey Self Storage in Oroville, CA sold their facility to a Redding-based family partnership for $3.2 million. The facility spans 43,466 square feet. Bobby Loeffler and Tyler Skelly of the Loeffler Self-Storage Group represented the seller, The Colligan Family. Loeffler also represented the buyer.

The Real Deal reports the following:

Kayne Anderson Capital Advisors purchased Belvedere Storage at 1520 Belvedere Road in West Palm Beach for $14.5 million. Belvedere Storage was led by William Theus of Columbia, SC. The 82,764-square-foot storage facility is managed by Extra Space Storage. Source: The Real Deal

Marcus & Millichap reports the following:

Store It All Self Storage purchased Noah's Ark Self Storage, an 82,960 net rentable square foot self-storage located in Converse, TX for an undisclosed price. Jon Danklefs, an investment specialist in Marcus & Millichap’s San Antonio office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  Store It All Self  Storage now has 18 locations in Texas, as well as locations in Vermont, New Jersey and Maryland. The facility is located at 8465 IH-10 E and contains 267 units ranging from 16 square feet to 300 square feet. In addition, there are 37 outdoor parking spaces, 24 enclosed parking spaces and 88 covered parking spaces.

Cushman & Wakefield reports the following:

First Neck Self-Storage purchased the self-storage facility at 1849 SW South Macedo Blvd. in Port St. Lucie, FL for an undisclosed price. Snapbox Self-Storage joined First Neck in the deal as operating partner and manager of the facility. The 69,219-square-foot facility has 602 units and was 87 percent occupied at closing. Mike Mele and Luke Elliott of Cushman represented the seller, American Personal Storage.

Harrison Street reports the following:

Harrison Street sold a portfolio of 15 self-storage facilities in the Southeast for an undisclosed amount. The buyer was not named. The portfolio spans more than 1.2 rentable square feet in Flordia, Georgia, and South Carolina. The portfolio has more than 8,000 total units and was developed within the last five years. Harrison Street is a Chicago-based investment management firm exclusively focused on alternative real assets.

An undisclosed private equity group purchased a 58,500-square-foot self-storage facility on Long Island from 4 Storage LLC. Purchase price was not revealed. Mike Mele, Luke Elliott, Robert Bloch, and Noah Obuchowski of Cushman & Wakefield’s National Self-Storage Team represented the seller.

The 541-unit facility is located on 2.9 acres at 541 Acorn Street in Deer Park, NY. The facility was built between 2000 and 2003 and was 83 percent occupied at closing.

Argus Self Storage Advisors report the following:

  • Storage Solutions of Terry in Terry, MS was sold for $1.5 million to an unnamed buyer. Advisors, Bill Barnhill, CCIM, and Stuart P. LaGroue, Sr., represented the seller of the 45,550-square-foot facility. The facility has 283 units and land for expansion.
  • Wright Storage, a 19,420-square-foot storage facility in Hiawatha, IA, a northern suburb of Cedar Rapids, was purchased by a regional operator for $800,000. The sellers of the 90-unit facility were represented by Tom Flannigan and Alex Ihrke of KW Commercial Minneapolis.

NAI Norwood Group reports the following:

Joe Mendola and Joe Robinson of NAI Norwood Group represented the seller of the 20,200-square-foot self-storage facility at 3507 Claremont Road in Charlestown, NH. The mixed-use property features 59 self-storage units and 23 apartments. The property sold for $1 million.

Midcoast Properties reports the following:

Dale C. Eisenman and Michael Morrison, of Midcoast Properties arranged the sale of Smith's Mini Storage located at 100 Sun Light Drive in Myrtle Beach, SC.  The facility features 221 units.

Houston Mini Storage, a 31,426-square-foot self-storage facility at 12841 South Main Street in Houston, TX has changed hands.

Bill Bellomy and Michael Johnson of Bellomy & Co.  represented the Houston-based buyer. Taucha Hogue with NGKF represented the Houston-based seller. The 240-unit property was 84% occupied at closing.

Midcoast Properties reports the following:

AJ's Self Storage in Toccoa, GA was purchased by an unnamed regional buyer. The transaction was arranged by Dale C. Eisenman and Michael Morrison. The facility offers 210 self-storage units with outdoor parkings for vehicles and boats.

March 2020

Public Storage purchased a portfolio of three self-storage properties spanning 3,596 units in the New York City and Boston areas. The properties were developed in 2018 and 2019 by the seller, Banner Real Estate Group.

The facilities are located at:

  • 5002 2nd Ave. in Brooklyn, NY
  • 479 5th Ave. in New Rochelle, NY
  • 490 Eastern Ave. in Malden, MA

The seller was represented by the JLL Capital Markets team led by Managing Director Steve Mellon and Brian Somoza along with Senior Managing Directors Andrew Scandalios and Coleman Benedict.

Strategic Storage Growth Trust II reports the following:

Strategic Storage Growth Trust II purchased the newly completed facility 235 Northeast 12th Ave. in Homestead, FL for an undisclosed price. The 91,400-square-foot self-storage facility includes 970 self-storage units and 30 RV spaces. The facility will be operated by SmartStop Self Storage, sponsor of SSGT II.

Marcus & Millichap reports the following:

  • A-American Self Storage, a 77,053 square foot self-storage facility located in Fresno, CA, was sold to an unnamed LLC for an undisclosed price. The facility, at 2455 N. Marks Avenue, has 717 non-climate-controlled units.The buyer was secured and represented by Brett R. Hatcher, Gabriel Coe, and Jacob Becher of the firm's Columbus, OH office. Jim Markel, regional manager and broker of record, assisted in closing this transaction.
  • Whites Creek Pike Self Storage, a 44,385-square-foot self-storage facility in Nashville, was sold to an unnamed buyer. Built in 2012, the facility features 104 climate controlled units and 265 non-climate units. Brett Hatcher and Gabriel Coe of the firm's Columbus office represented the seller. The buyer was represented by Sean Delaney of the firm's Chicago Oak Brook office. Jody McKibben, regional manager and broker of record, assisted in closing this transaction.

Guardian Storage Centers purchased a recently developed self-storage facility in Anthem, AZ for $18.2 million. The facility, located at 39998 North Gavilan Peak Parkway is part of a master-planned community. The facility spans about 96,000 square feet. Cushman & Wakefield advisors Brian Fulton, Michael Mele, and Devin Beasley represented the seller, a partnership between the Phoenix-based The Bell Group and Lockhart Capital.

[caption id="attachment_9219" align="alignnone" width="780"] Guardian Storage Centers purchased this facility in Anthem, AZ for $18.2 million.[/caption]

The Cushman & Wakefield Self-Storage Advisory Group also recently arranged the following deal:

The Dahn Corporation purchased Chester Heights Self Storage, a 713-unit facility at 15 Stoney Bank Road in Glen Mills, PA. Located in the Philadelphia MSA, the 79,705-square-foot facility was 89.3 percent occupied at time of sale. Michael Mele, Luke Elliott, Robert Bloch and Noah Obuchowski represented the the seller, an undisclosed private investor. The facility will now operate under the Mini U Storage brand name.

Skyview Advisors reports the following:

The firm arranged the sale of Milton Storage Center, a 111,634-square-foot self-storage facility located at 6065 Vanity Fair Rd. The facility has 715 units. Milton, FL. Zack Urow and Ryan Clark of Skyview Advisors represented the seller.

The Storage Acquisition Group reports the following:

[caption id="attachment_9222" align="alignnone" width="780"] A Maxi Space storage facility in Tacoma, WA.[/caption]

  • An undisclosed buyer purchased  the 7-property Maxi Space self-storage portfolio in Washington state. The portfolio offers a combined 182,255-rentable-square-feet of space in the Tacoma MSA . The transaction was conducted by Bill Sitar Jr. Esq., Andrew Burachinsky, and Monty Spencer, Jr. on February 4th.
  • An undisclosed buyer purchased Cherry Road Self Storage, the 63,980-square-foot self-storage facility at 1022 Hearn Street in Rock Hill, SC. The facility has 495 units. Jonathan Spencer and Scott Eckert, associates with The Storage Acquisition Group and agents at Resource Realty in Richmond, VA, and TSAG president Monty Spencer, Jr. negotiated the transaction. This is the 10th facility closed in Q1 of 2020 by the company.

The Arkansas Democrat-Gazette reports the following:

Red Dot Storage 179 LLC purchased the self-storage facility at 3400 Industrial Center Drive in North Little Rock, AR for $1,575,000. The seller was Saver Self Storage AR LLC. The 326-unit facility last traded in April 2018 for $970,000, according to Inside Self Storage.

AKA Partners, a Murray, UT-based real estate company, purchased the Storage Depot in West Memphis, AR for $8,875,000. The buyer has plans to expand the facility on the adjacent 3-acre parcel. The  seller was DSB of West Memphis, a partnership of David Reagler, Scott Ferguson and LaRand Thomas.

Larry Goldman of RE/MAX Commercial and a member of Argus Self Storage Advisors arranged the sale. The buyers have tapped Argus Management to manage the facility. Barclays provided a CMBS loan to fund the deal.

Bellomy & Co reports the following:

An unnamed buyer based in Minneapolis purchased Stagecoach Storage, a two-facility portfolio in Vermillion and Elk Point, South Dakota. The portfolio consisted of 174 non-climate units and two warehouse units totaling 48,000 net rentable square feet.  The facilities were 67% occupied. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Omaha, Nebraska based seller, in addition to procuring the buyer.

Cushman & Wakefield reports the following:

An undisclosed institutional investor acquired Upland Self Storage, an 834-unit self-storage facility located in Upland, CA. Mike Mele, Luke Elliott and Devin Beasley of Cushman & Wakefield’s Tampa, FL-based Self-Storage Advisory Group represented the seller, Bernie Svalstad, in the transaction.  The 70,570-square-foot facility sits on 5.2 acres at 135 South Campus Avenue. The property was 87% occupied.

Marcus & Millichap report the following:

  • An unidentified buyer purchased the two-property All Safe Mini Stor-It portfolio in the Milwaukee metro area for an undisclosed price. The facilities span a combined 76,484 square feet. Brian Kelly, Brett Hatcher and Gabriel Coe of the firm's Columbus office represented both buyer and seller. Todd Lindblom, regional manager and broker of record, assisted in closing this transaction. The facilities are located at N14W24789 Bluemound Road in Pewaukee and 1515 Manhattan Drive in Waukesha, WI. Together they offer 548 units.
  • An unnamed buyer purchased Double A Storage in St. Marks, FL for an undisclosed price. The 23,800-square-foot facility at 630 Port Leon Drive features 56 non-climate-controlled units, 56 boat storage units, two offices and a hair salon. Meir D. Perlmuter, Nathan Coe, Brett R. Hatcher, and Gabriel Coe, represented the seller. Ryan Nee, district manager and broker of record with Marcus & Millichap, assisted in closing this transaction.

GFN Miramar LLC, an entity of Boca Raton-based Kayne Anderson Capital Advisors purchased a newly built, 111,000-square-foot self-storage facility at 14900 SW 30th Street in Miramar, FL for $14.8 million. The deal was financed by a $7.77 million loan from PNC Bank.

The facility was built and sold by an affiliate of Columbia, SC-based Taylor/Theus Holdings. It operated under the Extra Space brand. (Source)

The Storage Acquisition Group reports the following:

The Storage Acquisition Group arranged the sale of the 7-facility Maxi Space Portfolio in the Tacoma, WA metro. The portfolio spans a total of 182,255 rentable square feet of self-storage space. Bill Sitar Jr. Esq., Andrew Burachinsky, and Cowles M. “Monty” Spencer, Jr. of the Storage Acquisition Group brokered the transaction.

Commercial Property Executive reports the following:

Prime Group Holdings purchased CrossTrax Self Storage in Charlotte, NC for $9.2 million. The 116,350-square-foot facility is located at 9400 Bob Beatty Road and was sold by a private investor. LMF Commercial provided financing for the acquisition. The facility offers 666 units. (Source)

NEREJ.com reports the following:

Investor Dan Waldman sold a 250-unit self-storage facility at 1475 Main Street in Millis, MA to an unidentified buyer for $3 million. The property has additional land for expansion and the new owner plans to build a three-story addition with 500 units. (Source)

Compass Self Storage reports the following:

Compass Self Storage purchased the 58,000-square-foot self-storage facility at 36622 County Road 19A in Eustis, FL. The purchase marks the 23rd Compass Self Storage location in Florida and their 92nd location nationwide. Purchase price was not released.

LandPark Advisors reports the following:

LandPark Advisors purchased Regal Self Storage, a 43,025-square-foot self-storage facility located at 19526 Kuykendahl Road in Spring, TX. LandPark plans to rebrand the self storage facility as Right Move Storage Spring. The facility was built in 2005. Purchase price was undisclosed.

Marcus & Millichap reports the following:

[caption id="attachment_8961" align="alignnone" width="780"] Legacy Self Storage - Plano, TX.[/caption]

An unnamed investor based in the Dallas zrea purchased Legacy Self Storage, a 15,628-square-foot self-storage facility in Plano, TX. The property is the investor's second facility acquisition. Brandon Karr and Danny Cunningham in Marcus & Millichap’s Fort Worth office, represented the seller and secured the buyer. The facility was constructed in 2002 and is made up of 80 climate-controlled units and 48 non-climate-controlled drive up units.

[caption id="attachment_8965" align="alignnone" width="780"] Sumas Mini Storage - Sumas, WA.[/caption]

An unnamed buyer purchased Sumas Mini Storage, a 23,448-square foot self-storage facility located at 446 Harrison St in Sumas, WA for $1.25 million. Christopher R. Secreto of the firm's Seattle office had the exclusive listing to market the property on behalf of the seller, a limited liability company based in Washington.  The buyers completed a 1031 exchange after having sold a small apartment complex. The facility is located on the Canadian Border on a 1.38 acre parcel.

Argus Self Storage Advisors report the following:

Tom Flannigan and Alex Ihrke of KW Commercial Minneapolis, broker affiliates of
Argus Self Storage Advisors, listed and sold East River Mini Storage in Coon Rapids, Minnesota. The property sold for $630,000 which represents a cap rate of 5.7%. Flannigan and Ihrke’s marketing efforts were able to procure a buyer who is using the property as a replacement property in a 1031 exchange.

Back to top

February 2020

A massive purchase price has emerged for a self-storage facility sold in January.

Texas-based Baranof Holdings, in partnership with Invesco Real Estate, purchase Storage by George! in Napa, CA for $40.5 million, according to the Napa Valley Register. The property was developed over the course of 20 years by George Cohen, who recently decided to retire.

The facility, at 1135 Golden Gate Drive, offers 964 storage units and 307 wine lockers. The transaction was arranged by Marcus & Millichap. The facility is now managed by Extra Space Storage.

The Daily Journal of Commerce reports the following:

Life Storage purchased a newly completed self-storage facility in Federal Way, WA from Wasatch Storage Partners for $21.7 million. Wasatch purchased the property at 33620 21st Avenue SW in 2017 for $4.1 million.

The Loeffler Self-Storage Group reports the following:

Bobby Loeffler & Tyler Skelly arranged the sale of a two-property portfolio of Millers Self Storage with locations in Monterey, CA and Carmel Valley, CA. The Monterey site features 405 units with 25,075 net rentable square feet and is located adjacent to California State Route 1. The Carmel Valley location features 135 units with 16,219 net rentable square feet and is situated in The Village of Carmel Valley. Purchase price was not disclosed.

The Storage Acquisition Group reports the following:

The Yorktown, VA-based Storage Acquisition Group, a division of Mid-Atlantic Commercial Real Estate, brokered the sale of CrossTrax Self Storage in Charlotte, North Carolina. The facility, on 11.86 acres at 9400 Bob Beatty Road, totals 666 units across 116,350 net rentable square feet. The purchase price was not disclosed. The sale was finalized on February 7, 2019. Scott Eckert and Jonathan Spencer, associates with the group and agents at Resource Realty in Richmond, VA and group president, and CEO, Cowles M. “Monty” Spencer, Jr. negotiated the transaction.

Bellomy & Co. reports the following:

A family trust has sold Academy Mini Storage in Little River-Academy, Texas to a new owner. Little River-Academy is part of the Killeen–Temple–Fort Hood MSA. The facility, built in 2003, has a total of 208 units totaling 27,000 rentable square feet. The property also includes nine acres for future development. The facility was 68 percent occupied at closing. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Grossman Family Trust, the Temple, Texas-based seller.

Charmel Storage Capital, a Los Angeles-based boutique commercial real estate brokerage firm focused exclusively on the self storage product type, recently arranged the sale of two U.S. self-storage facilities to Merit Hill Capital.

The firm represented the seller of Conyers Self Storage in Conyers, GA. The facility offers 59,253 square feet of storage unit space and 16,320 square feet of boat and RV storage.

[caption id="attachment_8734" align="alignnone" width="640"] Conyers Self Storage in Conyers, GA[/caption]

Charmel also represented the private seller of Secured Self Storage in Lake Elsinore, California. That property consists of 67,495 rentable square feet of single story space and 562 units.

JLL reports the following:

Advantage Self Storage and Harrison Street purchased Lakewood Self Storage, an 872-unit, climate-controlled, newly constructed self-storage facility in the Denver-area community of Lakewood, Colorado. JLL represented the seller, Banner Lakewood Storage, LLC, an affiliate of Banner Real Estate Group.  Lakewood Self Storage comprises one three-story building that houses 872 climate-controlled units along with 10,000 square feet of rentable retail space. The facility, located at 9300 W. Colfax Avenue was completed in June 2018. The JLL Capital Markets team was led by Managing Director Stephen Mellon and Brian Somoza along with Senior Vice President Paul Schloff.

Marcus & Millichap reports the following:

Marcus & Millichap arranged the sale of Cedar Storage in Cedar Rapids, IA. The asset sold for $5.5 million to the buyer, a private investor. The property, which offers 374 units, was sold by an individual trust. The facility covers 83,286 square feet overall and also offers RV and boat storage. Britney Hendricks and Sean Delaney of Marcus & Millichap represented both buyer and seller.

Occidental Capital Holdings purchased a mixed-use commercial property in Vail, AZ that includes a 46,005-square-foot self-storage facility, Vail Self Storage. The property also includes Old Vail Station, a 26,5630 square-foot retail and office center. The entire asset was sold for $8.2 million by Old Vail Station LLC. (Source: REBusiness)

The Storage Acquisition Group reports the following:

Prime Storage Group acquired Self Storage with More in Mesa, AZ for $7.5 million. Purchase of the 780-unit facility was financed with a $7.1 million loan from Natixis, according to Commercial Property Executive. The facility is located at 5932 E. Brown Road and offers 91,569 square feet of storage space inside of six two-story buildings. The sales transaction was managed by the Storage Acquisition Group. Greg Vanlerberghe, an associate with the group and a partner at LevRose Commercial Real Estate, and group president and CEO, Cowles M. “Monty” Spencer, Jr handled the deal.

Marcus & Millichap reports the following:

  • An unidentified buyer purchased AAA Self Storage, a 74,750 square foot storage facility located in Cheyenne, Wyoming.  The property achieved an $8 million purchase price at a little over $107 per foot, according to The LeClaire Group brokerage team that arranged the transaction. Adam Schlosser, senior vice president investments, Charles "Chico" LeClaire, executive managing director investments, and Neville Rustomjee, Wyoming broker of record, in Marcus & Millichap’s Denver, Colorado office, had the exclusive listing to market the property on behalf of the unnamed seller. The facility offers 517 drive-up units and 103 rentable outdoor parking spaces. The facility is located on 200 South College Drive.
  • Spartan Investment Group purchased Right Move Storage, a 126,985-square-foot self-storage facility in Fort Worth, TX. The transaction was arranged by Dave Knobler in Marcus & Millichap’s Houston office and Charles "Chico" LeClaire in the Denver office, along with Danny Cunningham and Brandon Karr of the Fort Worth, Texas office. The property was a two-story Macy's Department Store attached to Ridgmar Mall until it was converted into a self-storage facility in 2019. The facility offers 1,070 climate-controlled self-storage units.

Back to top

January 2020

Argus Self Storage Advisors report the following:

  • BCSS Ventures LLC purchased McCalla Mini Storage in Bessemer, AL for $1,700,000. Bill Barnhill and Stuart LaGroue, members of Argus Self Storage Advisors, represented the seller. The facility covers 26,500 rentable square feet and contains 189 regular storage units.
  • BCSS Ventures LLC also purchased Cahaba Mini Storage in Birmingham, AL for $810,000. The 11,560-square-foot rentable self-storage facility has 92 storage units and 15 RV/boat parking spaces. The seller was represented by Barnhill and LaGroue.

Skyview Advisors report the following:

Regal Self Storage, a facility located at 19526 Kuykendahl Road in Spring, TX has been sold to a new, undisclosed owner. The seller was represented by Zack Urow and Ryan Clark of Skyview Advisors. The facility offers a total of 43,025 net rentable square feet and 278 total units.

Marcus and Milichap reports the following:

Baranof Holdings, in a joint venture with global real estate investment manager Invesco Real Estate, has purchased Storage by George! and Napa Valley Wine Storage in Napa, CA. The 128,025 square foot self-storage facility features 964 storage units and 307 individual wine lockers and warehouse space that can hold 500 pallets of cased wine. Charles "Chico" LeClaire and Adam Schlosser of the Denver office represented the seller. Jim Markel of the Encino office also assisted. Purchase price was not disclosed.

 

Oak Brook, Illinois-based real estate firm Inland has purchased a 12 property self-storage portfolio in Michigan from a joint venture group.  The portfolio covers 747,146 net rentable square feet and offers a total of 6,209 units.

[caption id="attachment_8687" align="alignnone" width="780"] Part of the 12-property storage portfolio recently acquired by Inland in the Michigan.[/caption]

Charles "Chico" LeClaire, executive managing director investments and Adam Schlosser, senior vice president investments, in Marcus & Millichap’s Denver office, had the exclusive listing to market the assets.  The two originally sold the portfolio back in 2014 to the current seller: a joint venture between an unnamed private equity group, Paragon Outcomes, and Kurt O’Brien, CEO of Simply Self Storage.  Simply Self Storage also managed the properties on behalf of the joint venture.

The twelve-property portfolio spans across multiple locations in Ann Arbor, Chesterfield, Grand Rapids, Kalamazoo, Lake Orion, Lansing, Novi, Okemos, Westland, Wyoming, and Ypsilanti.

Equicap Commercial reports the following:

[caption id="attachment_8686" align="alignnone" width="780"] Econo Mini Storage in Humboldt, TN was one of two self-storage sales arranged jointly by EquiCap Commercial.[/caption]

Jesse Luke of EquiCap Commercial and Anne Williams-Blackwell of The Williams Self-Storage Group of Marcus & Millichap arranged the sale of Dyersburg Self Storage, located in Dyersburg, TN and Econo Mini Storage, located in Humboldt, TN. Econo Mini Storage was exclusively listed by Anne Williams-Blackwell, while Dyersburg Self Storage was co-listed by Anne Williams-Blackwell and Jesse Luke. Dyersburg Self Storage was recently expanded to 467 units with 57,105 net rentable square feet and is located on a high-traffic highway. Econo Mini Storage features 691 units with 87,020 net rentable square feet with the opportunity to raise rates and expand on additional acreage.

REBusiness Online reports the following:

State Storage Group Kansas City LLC purchased the 741-unit self storage facility at 910 Mo-& in Independence, MO for $10 million. The facility sits on 28.6 acres and also features 450 parking stalls. The seller was Lake City U-Stor. Block & Co. Inc. Realtors arranged the sale. (Source)

Andover Properties reports the following:

Andover Properties, LLC (doing business as Storage King USA) in partnership with Angelo Gordon has recently acquired Savannah Self Storage in Savannah, Georgia, marking its first purchase in the state. The property consists of a mix of climate controlled and drive up units, as well as a car wash. The facility spans 45,650 net rentable square feet across 376 drive-up and climate-controlled units.

The Rosewood Property Company reports the following:

Rosewood Property Company acquired Front Range Self-Storage at 2135 3rd Street in Monument, CO. The storage facility contains 76,194 net rentable square feet and 658 storage units. The purchase marks Rosewood's 50th addition to its self-storage portfolio that spans 12 states.

Midcoast Properties reports the following:

Our Storage Depot in Newnan, GA was sold to a local corporation. Dale C. Eisenman, CCIM, and Michael Morrison, Associate Broker with Midcoast
Properties, Inc., represented the buyer. The facility is 30 miles south of Atlanta and offers 209 storage units.

Argus Self Storage Advisors reports the following:

  • Tom Flannigan and Alex Ihrke of KW Commercial Minneapolis and Argus Self Storage Advisors listed and sold a 2-property portfolio in central Minnesota. MaxiStorage, with two locations in Alexandria, Minnesota, sold for $1,850,000 to a local group of buyers. The two facilities consist of 45,870 rentable square feet and 265 units with land for expansion. The transaction closed on January 15th, 2020.
  • JT Easy Storage, a three property portfolio located in rural South Hutchinson, KS has traded hands. Jared Jones and Larry Goldman represented the seller, an unnamed financial institution. The portfolio was sold to a local buyer.
  • Josh Koerner and Frost Weaver of Weaver Realty Group arranged the sale of Fanning Springs Storage located on 8.8 acres along US-19 in Fanning Springs, FL. The 294-unit offers 42,805 square feet and an occupancy rate of 90 percent.

Public Storage purchased a three facility self-storage portfolio covering 300,000 square feet in the Charleston, SC area. The facilities were developed and sold by a partnership between the Miller-Valentine Group and The Coastal Storage Group. The facilities offer more than 2,000 self-storage units combined and have been open since 2018. Two facilities were located in the city of Goose Creek, with the third facility located in North Charleston.

Miller-Valentine and Coastal Storage Group own additional facilities in Myrtle Beach, SC, and Knoxville, TN. The joint venture plans to build six additional facilities in Florida, Kentucky, Ohio and Tennessee in 2020.

[caption id="attachment_8650" align="alignnone" width="780"] One of three facilities recently purchased by Public Storage in South Carolina. The facility, in Goose Creek, was previously managed by Extra Space Storage.[/caption]

“The purchase of these assets by the country’s most recognized brand in self-storage facilities reinforces our position in the market," said Aaron Rowley, a partner of the joint development group.

Berkshire Hathaway Storage Group reports the following:

Guardspace Self Storage at 526 Peachtree Street in Cocoa, FL was sold for an undisclosed amount to an unnamed buyer. The facility spans 41,621 square feet and offers 379 self-storage units. Parker Sweet, president of the Berkshire Hathaway Storage Group, arranged the transaction.

The Loeffler Self-Storage Group reports the following:

R&M Mini Storage in Valley Center, CA was sold for $3.1 million to a local owner operator in San Diego. The 38,280-square-foot facility is located on more than three acres along South Cole Grand Road. The facility has 230 units and a manager's residence. The facility was 94 percent occupied at the time of sale. Bobby Loeffler and Tyler Skelly listed the property on behalf of sellers, the Collins Family.

Marcus & Millichap reports the following:

  • Birch Bay Business Park & Storage in Blaine, WA sold for $5.1 million in a deal brokered by Christopher Secreto of the firm's Seattle office. The seller retained a 40 percent interest in the property, with the buyer acquiring a 60 percent stake for $3.06 million. The 41,132-square-foot self-storage facility at 4550 Birch Bay Lynden Rd sits on more than 10 acres and includes land that can be developed further in the future.
  • Dallas-based Montefort Capital Partners purchased Kyle Pkwy Self Storage & Mini Offices in Kyle, TX for an undisclosed sum. The 41,283-square-foot self-storage facility is located in 5141 Cromwell Drive. Jon Danklefs of the San Antonio office represented the unidentified seller.
  • A private capital group new to the self-storage industry purchased Hwy 380 Self Storage, a 44,000-square-foot self-storage facility at 1019 Agape Court in Caddo Mills, TX. The 262-unit facility was built between 2009 and 2017. Brandon Karr and Danny Cunningham represented the private seller. Purchase price was not disclosed.

Midcoast Properties Inc. reports the following:

A private equity group purchased a facility managed by Extra Space Storage in Long Beach, MS. The facility will be rebranded under the name Storage Sense. The 368-unit facility is located about 10 miles east of Biloxi along Pineville Road and Alexander Avenue. Dale Eisenman and Michael Morrison arranged the transaction.

Argus Self Storage Advisors reports the following:

Joan Lucas of Joan Lucas Real Estate Services arranged the sale of Gateway Self Storage a 77,080-square-foot self-storage facility in Greeley, CO. The facility has 571 units inside of 20 storage buildings. The facility also features a 1,396-square-foot manager's apartment. Buyer, seller and price information was not released.

Extra Space Storage recently purchased a newly built self-storage facility in Maple Grove, MN for $10.153 million. The 808-unit self-storage facility at 13000 N. 63rd Avenue was sold by the builder, Corcoran, MN-based Ebert Construction. Source: Finance & Commerce.

[caption id="attachment_8624" align="alignnone" width="780"] Extra Space bought this newly built self-storage facility in Maple Grove, MN.[/caption]

Storage Post Self-Storage acquired a 3-story self-storage facility in Haledon, New Jersey for an undisclosed price. Square footage and unit count information were not released. The converted schoolhouse was originally built in 1894 and re-developed into a self-storage facility in 1994.

[caption id="attachment_8623" align="alignnone" width="780"] Storage Post purchased this storage facility in Haledon, NJ recently. [/caption]

Strategic Storage Trust IV, Inc. has purchased a newly constructed self-storage facility in Surprise, AZ. The buyer is a public non-traded real estate investment trust sponsored by SmartStop Self Storage. The 716-unit facility is located at 13788 W. Greenway Road in Surprise, which is part of the Phoenix suburbs. The 79,000-square-foot facility was constructed in 2019. The facility will operate as a SmartStop Self Storage facility.

VanWest Partners added two self-storage facilities to its VanWest Storage Fund I, LLC with the acquisition of All In Self Storage in Walkertown, North Carolina, and StorMor Self Storage in Salisbury, North Carolina. The fund has added five self-storage centers to its portfolio this year since launching in April. All In Self Storage, built in 2017, at 2875 Rocky Branch Road in Walkertown features 315 storage units and 45,575 square feet. StorMor Self Storage, located at 4185 Statesville Blvd in Salisbury, was acquired on November 6th, 2019. Built in 2006, it contains 282 units totaling 49,600 square feet. VanWest plans to rebrand both facilities under its ClearHome Self Storage.

Marcus & Millichap reports the following:

[caption id="attachment_8625" align="alignnone" width="780"] Affordable Self Storage in Puyallup, WA sold for $6 million.[/caption]

An unidentified buyer purchased Affordable Self Storage at 3501 14th Street Pl SW in Puyallup, WA for $6 million. That's $152 per rentable square foot; the facility spans 39,500 square feet. Christopher Secreto of the firm's Seattle office listed the property for the Washington-based seller and secured the buyer. “The sellers are diversifying away from self-storage, while the buyers were adding to a self-storage portfolio.” said Secreto.

Back to top

2019

December 2019

Moose Crossing Storage Associates LLC purchased Moose Crossing Self Storage in Blakeslee, PA, from Lancaster, PA-based Gearhart Properties LLC for $3.96 million.

The facility, on 4.9 acres at 321 Route 940, comprises 321 units and an apartment. The square footage wasn’t provided.

Chuck Shields, a self-storage specialist at Radnor, PA-based Beacon Commercial Real Estate who’s affiliated with the Aurora, CO-based Argus Self Storage Sales Network, represented the seller.

The Argus Self Storage Sales Network also reported Linda Cinelli of LC Realty Investments LLC in North Branch, NJ, represented the unidentified seller of Layton’s Self Storage in Belvidere, NJ. The buyer wasn’t identified. The purchase price wasn’t disclosed; the list price was $875,000.

The facility, on 1.2 acres at 15 Adams St., consists of 84 units in 14,983 rentable square feet. The deal included two tenant-occupied industrial buildings with a total of 5,170 square feet.

Bellomy & Co. (Austin, TX) reports:

Bill Bellomy and Michael Johnson represented Select Climate Storage LLC in the sale of Select Climate Storage in Mexia, TX, and found the buyer, Waco, TX-based Ideal Self Storage. The purchase price wasn’t disclosed. The facility, at 246 S. Martin Luther King Jr. Highway, encompasses 89 units across 11,285 net rentable square feet. The property offers room for expansion.

Marcus & Millichap reports:

  • Chris Kampmeyer of the company’s office in Minneapolis, MN, and Adam Schlosser of the company’s office in Denver, CO, represented the unidentified seller of Somerset Mini Storage in Somerset, WI. The buyer wasn’t identified. The purchase price wasn’t disclosed. The facility, at 219 Church Hill Road, features 172 units and 28 rentable outdoor parking spaces in 30,708 square feet. The deal included land available for development.
  • Brandon Karr and Danny Cunningham of the company’s office in Fort Worth, TX, represented the unidentified seller and found the unidentified buyer of Self Storage Solutions in Joshua, TX. The purchase price wasn’t disclosed. The facility, at 2032 FM 917, comprises 83,850 square feet. The unit count wasn’t available. The property consists of three parcels, including an undeveloped 2.44-acre plot.
  • The Hatcher Group of the company’s office in Columbus, OH, closed on the sale of The Storage Place in Dickson, TN. The buyer and seller weren’t identified. The purchase price wasn’t disclosed. The two-facility, 3.08-acre portfolio consists of 346 units in 46,155 net rentable square feet. The property offers room for expansion.
  • The Hatcher Group also handled the sale of RI Self Storage in Central Falls, RI. Nathan Coe, Brett Hatcher and Gabriel Coe represented the unidentified seller. Coe and Hatcher represented the unidentified buyer. The purchase price wasn’t disclosed. The facility, at 817 Dexter St., contains 458 units and three office/warehouse spaces totaling 37,826 net rentable square feet.

Skyview Advisors reports the following deal:

Richard Riddle and Ryan Clark of Skyview Advisors represented the seller of American Storage, a two-property self-storage portfolio located at 306 W. 4th St.Eureka, MO and 1699 W 5th St.Eureka, MO. The combined properties cover 103,726 square feet of rentable space. Purchase price and buyer information was not disclosed.

A trust associated with South Florida investor Todd Ruderman, owner of Fort Lauderdale, FL-based Value Store It Management Inc., purchased a self-storage facility in North Lauderdale, FL, for $12 million, The Real Deal reported. The seller was SS McNab LLC, managed by Thomas Richerson of Miami Beach, FL. The facility, at 7600 McNab Road, covers about 200,000 square feet.

Berkadia Commercial Mortgage LLC (New York City, NY) reports:

The company arranged financing for the purchase by Las Vegas, NV-based Crystal View Capital LLC of AAA Platte Self Storage in Colorado Springs, CO. Berkadia’s Cutt Ableson and Johnny King secured the loan. The seller wasn’t identified. The purchase price wasn’t disclosed. The facility, at 4510 Edison Ave., is a 308,749-square-foot, 877-unit self-storage and industrial warehouse.

Bellomy & Co. (Austin, TX) reports:

[caption id="attachment_8585" align="alignnone" width="780"] The two-facility High Point Storage portfolio in Texas was sold to Public Storage in a deal arranged by Bellomy & Co.[/caption]

Bill Bellomy and Michael Johnson completed two deals in Texas:

  • The sale of High Point Storage, a two-facility portfolio in La Marque and Dickinson, TX. The two properties comprise 1,117 units in 235,918 net rentable square feet; the unit count wasn’t available. Bellomy and Johnson represented the unidentified seller and found the buyer, Glendale, CA-based Public Storage.
  • The sale of Lone Star Self Storage in Mansfield, TX. The facility, on 2.06 acres at 2027 Lone Star Road, offers 186 units in 27,452 net rentable square feet. Bellomy and Johnson represented the unidentified seller and found the buyer, Southern Storage LLC of Mansfield.

SkyView Advisors (Tampa, FL) reports:

[caption id="attachment_8586" align="alignnone" width="780"] SkyView Advisors recently facilitated the sale of this Metro Storage facility in Dearborn, MI to an unidentified buyer.[/caption]

Zack Urow and Ryan Clark represented the unidentified sellers of:

  • Stor-Mor Self Storage in Salisbury, NC. The buyer wasn’t identified. The purchase price wasn’t disclosed. The facility, on 13.06 acres at 4185 Statesville Blvd., provides 262 units across 45,600 net rentable square feet.
  • Metro Storage in Dearborn, MI. The buyer wasn’t identified. The purchase price wasn’t disclosed. The facility, on 3.16 acres at 6470 Wyoming Ave., comprises 757 units in 96,148 net rentable square feet.

Compass Self Storage (Cleveland, OH) reports:

The company purchased a Life Storage-branded facility in St. Augustine, FL, for an undisclosed amount. The seller wasn’t identified. The facility, at 250 Sandy Creek Parkway, spans more than 86,000 net rentable square feet. The unit count wasn’t available.

Strategic Storage Growth Trust II Inc. (Ladera Ranch, CA) reports:

The REIT purchased Clock Tower Self Storage in Mill Creek, WA, from an unidentified buyer for an undisclosed amount. The facility, on 7.5 acres at 16618 Bothell Everett Highway, encompasses 660 units and six RV spaces in 65,500 net rentable square feet.

SVN Commercial Realty (Buffalo, NY) reports:

  • Nick Malagisi of SVN Commercial Realty and Hans Hardisty of SVN Hardisty Commercial Realty in Poughkeepsie, NY brokered the sale of Erie Station Self-Storage in West Henrietta, NY, for $6.2 million to New York City, NY-based Global Self Storage Inc. The seller wasn’t identified. The facility, at 70 Erie Station Road, features 458 units across 46,850 net rentable square feet. The deal included a permit allowing construction of an expansion containing 7,300 net rentable square feet. The facility has been rebranded as Global Self Storage.
  • Malagisi and Hardisty also brokered the sale of Thornwood Self Storage Center in Thornwood, NY. The buyer and seller weren’t identified. The property was part of a two-facility deal in Thornwood totaling $22.35 million. The facility, at 401 Claremont Ave., provides 55,000 gross square feet.

Marcus & Millichap reports:

[caption id="attachment_8587" align="alignnone" width="780"] Marcus & Millichap broker Christopher Secreto found the buyer for this storage facility in Silverdale, WA for $4.35 million.[/caption]

  • Charles “Chico” LeClaire and Adam Schlosser, both of the company’s office in Denver, CO, represented the unidentified seller of the three-facility United Stor-All Self Storage in the Orlando, FL, market. The buyer wasn’t identified. The purchase price wasn’t disclosed. The facilities encompass 2,008 units across 212,438 net rentable square feet. They are at 1007 Willa Springs Drive in Winter Springs, 965 S. Semoran Blvd. in Winter Park and 7400 W. Colonial Drive in Orlando.
  • Christopher Secreto of the company’s office in Seattle, WA, represented the unidentified seller and founder the unidentified buyer of Affordable Self Storage in Silverdale, WA. The purchase price was $4.35 million. The facility, on 1.28 acres at 7979 Provost Road NW, features 30,325 square feet. The unit count wasn’t available.
  • The Hatcher Group of the company’s office in Columbus, OH, closed on the sale of Mr. Stor-All in Sonora, CA. The buyer and seller weren’t identified. The purchase price wasn’t disclosed. The facility, on 9.27 acres at 20828 Longeway Road, offers 729 storage units and 32 rentable parking spaces across 101,575 net rentable square feet.
  • Britney Hendricks and Sean Delaney, both of the company’s office in Oak Brook, IL, represented the unidentified buyer and seller of Stowaway Self Storage in Collinsville, IL. The purchase price wasn’t disclosed. The facility, at 1 Business Center Court, provides 354 units in 44,038 rentable square feet.

Eagle Commercial Realty Services (Phoenix, AZ) reports:

  • Kyle Topper and Jeff Gorden represented the unidentified seller of Sunshine Plaza & Mini Storage in Wickenburg, AZ. The buyer wasn’t identified. The purchase price was $855,000; the list price was $900,000. The facility, on 3.26 acres at 1020 W. Wickenburg Way, provides 100 self-storage units and seven retail spots in 14,100 rentable square feet. Eagle Commercial is part of the Argus Self Storage Sales Network.

RE/MAX Commercial in Overland Park, KS reports the following deals:

  • Larry Goldman arranged the sale of Scott Storage in North Little Rock, AR, to Arkansas Storage Centers VII LLC. The seller wasn’t identified. The purchase price wasn’t disclosed; the list price was $5.1 million. The facility, on 11.3 acres at 8007 Counts Massie Road, comprises 460 units in 121,224 rentable square feet. Goldman is part of the Argus Self Storage Sales Network.
  • Goldman arranged the sale of Grant Street Storage in Cabot, AR, to Conway, AR-based GrayWalt Properties. The seller wasn’t identified. The purchase price wasn’t disclosed; the list price was $429,000. The facility, on 4.4 acres at 901 N. Grant St., offers 9,900 rentable square feet. The unit count wasn’t available.
  • Goldman arranged the sale of Tucker Road Storage in Liberal, KS, to Ulysses, KS-based STL Horizon LLC. The seller wasn’t identified. The purchase price wasn’t disclosed; the list price was $1.9 million. The facility, on 4.14 acres at 811 E. Tucker Road, offers 353 units in 60,010 net rentable square feet.

The Storage Acquisition Group (Yorktown, VA) reports:

Chris Nielsen of Omaha, NE, and Cowles “Monty” Spencer Jr. of Yorktown managed the sale of Birdneck Self Storage in Virginia Beach, VA. The buyer and seller weren’t identified. The purchase price wasn’t disclosed. The facility, at 1195 Bells Road, offers 282 storage units in 36,950 gross square feet, as well as car, boat and RV parking spaces.

Back to top

November 2019

Brooklyn, NY-based Merit Hill Capital LP purchased two self-storage facilities — one in Washington and the other in Massachusetts — for a total of nearly $20 million.

Merit Hill Capital paid $12.7 million for Eastside Self Storage in North Bend, WA, according to CoStar. The seller was Seattle, WA-based GDB Development LLC. The facility, on 6.11 acres at 1410 Boalch Ave. NW, features 361 units in 50,055 square feet. The SpareFoot Storage Beat reported the deal in October, but the purchase price and the names of the buyer and seller weren’t available.

In Marlborough, MA, Merit Hill Capital bought a Kane Self Storage facility from Hudson, MA-based Kane Properties Corp. for $7 million. The facility, on 6 acres at 800 Bolton St., encompasses 55,000 square feet, the Worcester (MA) Business Journal reported. The unit count wasn’t available.

Both facilities now operate under the CubeSmart Self Storage brand.

Bancap Commercial reports:

Bancap Self Storage Group sold a portfolio with two properties in Solano County, CA for $21.6 million, and both will be renamed as Storage Star. One property was Cordelia Self Storage in Fairfield, which has nearly 70,000 net square feet plus 45 outdoor vehicle storage spaces. The other is Vacaville Self Storage in Vacaville, with more than 72,600 net square feet of storage space, including one building with air-cooled units. Bancap Self Storage Group has specialized exclusively in self-storage for 30-plus years. Its president, Dean Keller, was the exclusive listing agent and sole broker in the deal.

Global Self Storage Inc. (New York City, NY) reports:

The REIT purchased Erie Station Storage in West Henrietta, NY, from an unidentified seller for $6.2 million. The facility, at 70 Erie Station Road, offers 458 units across 46,850 net rentable square feet. The deal included approval for a 7,300-square-foot expansion.

SkyView Advisors (Tampa, FL) reports:

[caption id="attachment_8563" align="alignnone" width="780"] SkyView Advisors handled the sale of Select Space Storage in the Minneapolis MSA to storage REIT Cubesmart.[/caption]

  • Cameron Vale and Ryan Clark represented the unidentified seller of All In Self Storage in Walkertown, NC. The buyer was Denver, CO-based VanWest Partners. The purchase price wasn’t disclosed. The facility, on 9 acres at 2875 Rocky Branch Road, encompasses 45,575 net rentable square feet. The facility has 315 units.
  • Richard Riddle and Ryan Clark represented Select Space Storage in their sale of the 70,914-square-foot self-storage facility at 4370 Fountain Hills Dr. NE, Prior Lake, MN to CubeSmart. The facility has 655 units. Purchase price was not disclosed.

 

Ladera Ranch, CA-based Strategic Storage Trust IV Inc. purchased a 3,500-unit portfolio of four newly built Extra Space Storage-branded facilities in three East Coast states. The seller wasn’t identified. The purchase price wasn’t disclosed.

The portfolio covers about 326,000 square feet on 14.6 acres. The facilities now operate under the SmartStop Self Storage brand.

[caption id="attachment_8558" align="alignnone" width="780"] This facility at 7307 University City Boulevard in Charlotte, NC was one of four newly developed stores that were recently sold to Strategic Storage Trust IV.[/caption]

The facilities are at:

  • 7307 University City Blvd., Charlotte, NC
  • 9800 Ardrey Kell Road, Charlotte, NC
  • 2307 Hydraulic Road, Charlottesville, VA
  • 1071 Marshall Farms Road, Ocoee, FL

Mark Owen of New York City, NY-based Eastdil Secured LLC brokered the deal, which marks Strategic Storage Trust IV’s entry into the North Carolina and Virginia markets.

Bancap Self Storage Group Inc. (Long Beach, CA) reports:

Dean Keller brokered the sale of a two-facility storage portfolio in Northern California. Neither the buyer nor the seller of the two facilities — Cordelia Self Storage in Fairfield, CA, and Vacaville Self Storage in Vacaville, CA — was identified. The purchase price wasn’t disclosed.

Cordelia Self Storage, at 301 Lopes Road, offers 70,000 net square feet of traditional storage space, plus 45 outdoor vehicle parking spaces. Vacaville Self Storage, at 170 Bella Vista Road, features more than 72,600 net square feet. The unit counts weren’t available.

The facilities have been rebranded under the Storage Star name.

Platinum Storage Group (Newport Beach, CA) reports:

The company purchased two self-storage facilities in Spring Hill, TN. The seller wasn’t identified. The purchase price wasn’t disclosed.

Spring Hill Mini Warehouses, at 1212 School St., comprises 336 units in 43,400 rentable square feet. Port Royal Storage, at 3797 Old Port Royal Road, encompasses 697 units in 105,515 rentable square feet. Both facilities will be rebranded under the Storelocal name.

Platinum Storage Group worked on the deal with Ty Hasty of Franklin, TN-based Great South Real Estate and Development LLC.

Marcus & Millichap reports:

[caption id="attachment_8559" align="alignnone" width="780"] The Storage Co. in Nampa, ID has a new owner.[/caption]

  • Jordan Farrer of the company’s office in Salt Lake City, UT, and Adam Schlosser of the company’s office in Denver, CO, represented the unidentified seller of The Storage Co. in Nampa, ID. The facility, at 820 Seventh St. N, features 555 units across 95,962 square feet. The deal included 4.5 undeveloped acres.
  • Farrer and Schlosser represented the Hansen Family Trust in the sale of Hansen Storage in Logan, UT. The buyer wasn’t identified. The purchase price wasn’t disclosed. The facility, on 2.3 acres at 1115 W. 300 N, offers 242 storage units and 20 rentable outdoor parking spaces across nearly 38,000 square feet.

A two-parcel self-storage facility in Lacey, WA changed hands for the full asking price of $2.6 million. The buyer and seller weren’t identified.

Stowaway Mini Storage sits on two neighboring parcels: one at 927 Bowker St. SE and the other at 5235 Lacey Blvd. The facility encompasses 19,100 square feet. The unit count wasn’t available.

[caption id="attachment_8535" align="alignnone" width="780"] The storage facility at 927 Bowker Street SE in Lacy, WA is one of two parcels that make up the Stow Away storage property that was recently sold.[/caption]

Chris Secreto of Marcus & Millichap’s office in Seattle, WA represented the seller, and Matt Gardner of the Seattle office secured the buyer and helped work out a 1031 exchange.

Marcus & Millichap Capital Corp. arranged 75 percent loan-to-value purchase financing from a local credit union.

“Stowaway attracted multiple offers and generated a competitive bidding process. The buyers are new to the industry and are excited to invest in more self-storage,” Secreto said.

Argus Self Storage Network (Aurora, CO) reports:

  • Joan Lucas of Joan Lucas Real Estate Services LLC in Denver, CO, who’s affiliated with Argus, and Mark Billingsley of Hike Real Estate in Papillion, NE represented the unidentified seller of Kite Ranch RV Storage in Lemoyne, NE. The buyer wasn’t identified. The purchase price wasn’t disclosed; the list price was $1.7 million. The facility, on 6.28 acres at 299 Highway 92 West, provides 224 units in more than 95,000 rentable square feet.
  • Frost Weaver and Josh Koerner of Jacksonville, FL-based Weaver Realty Group Inc. handled the sale of Pan Am Mini Storage in Atlantic Beach, FL. The buyer and seller weren’t identified. The purchase price wasn’t disclosed; the facility was listed at $5.47 million. The facility, on 4.43 acres at 2383 Mayport Road, features 552 units and 87 boat and RV parking spaces across 66,400 rentable square feet.

Marcus & Millichap reports:

  • The Hatcher Group of the company’s office in Columbus, OH closed on the sale of AAA Westside Storage in Salem, OR. The buyer and seller weren’t identified. The purchase price wasn’t disclosed. The facility, on 2.19 acres at 2401 Salem Dallas Highway NW, comprises 410 units in 46,056 net rentable square feet.
  • Thomas Berlin and Zachary Munce of the company’s office in Detroit, MI represented the unidentified buyer and unidentified seller of Savoie Self Serve Storage in Clarkston, MI. The purchase price wasn’t disclosed. The facility, on 9 acres at 9650 Dixie Highway, covers 38,580 square feet. The unit count wasn’t available.

Midcoast Properties Inc. (Hilton Head Island, SC) reports:

Michael Morrison represented the buyer of All Safe Storage in Seneca, SC. The SpareFoot Storage Beat initially reported the deal on Oct. 30.

Back to top