Point Acquisitions, based in St. Petersburg, FL, purchased one of the largest single-site self-storage properties – 65-plus acres – in the United States at 18975 Marbach Lane in San Antonio, TX. It has 700 units spread across 362,000 square feet. The purchase includes 20 acres suited for eventual expansion, and that could rank it among the nation’s largest. Source: Digital Journal
Armstrong Capital Development sold an 80,400-square-foot self-storage site at 7200 E. 36th Ave. in Denver, CO. It has three stories, is climate-controlled and has 569 units. The structure was built in 2019. An unnamed institutional buyer made the purchase. The facility was 96 percent occupied at the time of sale. The property was branded StorQuest Self Storage. Source: REBusiness Online
JLL Capital Markets closed the sale of Imperial Self Storage, a facility with one three-story building and 95,963 square feet at 15025 Voss Road in Sugar Land, TX, within the Houston, TX MSA. SurePoint Self Storage was the seller and OB Companies/My Place Self Storage was the buyer. CubeSmart manages the facility. The JLL team that worked the transaction was Steve Mellon and Brian Somoza, both managing directors. Source: REjournals
Storage Post Self Storage, based in Atlanta, GA, bought a two-property portfolio in the New York City MSA, its 10th and 11th acquisitions this year. Storage Post Elizabeth and Storage Post-Perth Amboy have a combined 227,000 square feet and both are in New Jersey, with the first one at 1189 Magnolia Ave. and the second at 900 State St. The units are climate-controlled. The seller is United Hampshire US REIT. Aaron Swerdlin and Taucha Houge of Newmark Group Inc. worked the transaction. Source: Cision
Storage Rentals of America purchased a storage facility at 3 Chestnut St. in Worcester, MA for $5 million (below). It last sold in September 2020 for $1.825 million. Value Store It, a self-storage company with locations in Massachusetts, Arizona and Florida, was the previous owner. Source: MassLive
CBRE announced the sale of a self-storage facility in Palm Bay, FL for $5.92 million (below). The seller, Palm Bay SS LLC, a private investor, was represented by CBRE’s Self Storage Advisory Group. OB Cos. was the buyer. Out O’ Space Storage offers 240 climate-controlled units spread across 27,100 NRSF, plus nine parking spaces. Palm Bay’s population is more than 131,000 and the average household income within a five-mile radius is $70,000. Source: CBRE
Andover Properties expanded its portfolio into Indiana by buying a property in South Bend. The company now has 139 facilities in 17 states. The facility converted to self-storage in 2019. It offers 40,000 square feet of climate-controlled space plus 44,000 square feet of retail space. Tenants include Planet Fitness and Family Dollar Stores. The property will be rebranded as Storage King USA. Source: Andover Properties
Matthews Real Estate Investment Services completed the sale of a USA Storage facility in Hollywood, FL (below). Investment company UTEX Storage Partners was the buyer. Matthews represented the seller, Parkstone Capital, a private-equity group based in New York. The facility has more than 400 units and 41,475 rentable square feet. It was UTEX’s first acquisition and it plans to expand throughout the United States. Source: Matthews Real Estate Investment Services.
Argus Self Storage Advisors’ Stuart P. LaGroue Sr. and Bill Barnhill represented the seller of Chantilly Storage & Chantilly Place in Milton, FL. The facility has 76,200 gross square feet and climate-controlled storage space for all 401 units as well as a 128-unit expansion. The facility is located along Highway 90. and retail/office/restaurant space. LaGroue Sr. and Barnhill are the Gulf Coast region broker affiliates of Argus Self Storage Advisors, based in Denver, CO. Source: Argus Self Storage Advisors
SmartStop Self Storage REIT Inc. bought a self-storage facility at 7411 S. Gartrell Road in Aurora, CO. The facility is designed to serve the Saddle Rock Ridge, Tallyn’s Reach and Heritage Eagle Bend neighborhoods. It has 55,707 square feet and includes one single-story and one three-story building. SmartStop now has 171 operating properties in 22 states plus Toronto, Ontario, Canada. Source: BusinessWire
