Sold! Weekly Self-Storage News Round Up 10.12.22
Maya Capital Partners LLC bought three self-storage facilities in the Northeast. They will operate under MCP’s brand, Drive-Up Storage. The facilities are:
- Amwell Valley Self Storage, 470 NJ-31 in Ringoes, NJ, with 265 drive-up units
- The Storage Depot, 483 Washington Ave. in North Haven, CT, with 310 units (142 non-climate-controlled and 168 climate-controlled)
- Affordable & Safe Self Storage, a new facility at 1257 New Haven Road in Naugatuck, CT, with 247 climate-controlled and drive-up units.
Maya Capital Partners a real estate investment firm based in New York City which focuses on acquiring undervalued assets in strong markets. The firm is actively deploying +$100 million of equity towards increasing its self storage and multifamily portfolio holdings. Source: Maya Capital Partners
Midcoast Properties Inc. represented the seller of Main Street Self Storage at 242 E. Main St. in Havelock, NC. Hal H. Tanner was the lead broker. An out-of-state investment company bought the facility, which has about 31,231 NRSF spread over 257 drive-up and climate-controlled units, plus parking on about 7.18 acres. There is room for expansion.
Matthews Real Estate Investment Services
Matthew Real Estate Investment Services, based in Scottsdale, AZ, recently announced three new sales:
- Austin McLeod represented the seller of Hollywood Self-Storage at 2709 Gordon Highway in Augusta, GA. It has 64,645 rentable square feet spread across 490 units and sits on 10.5 acres.
- McLeod, Maxx Bauman, and Bill Pedersen represented the seller in a $6.9 million purchase of Yucca Valley Self-Storage at 55970 Yucca Trail in Yucca Valley, CA. It has 39,192 square feet. Purely Storage is the buyer and plans to add more units or RV parking on an extra acre.
- McLeod and Brad Fina represented the seller of B&B Storage, a 12,000-square-foot vehicle and RV storage facility at 1010 County Road 429, Brazoria, TX.
Marcus & Millichap
Marcus & Millichap announced the sale of Montague Self Storage, a 22,100-square-foot self-storage facility in Montague, MI. It has 152 non-climate-controlled units. The property has 9.72 acres, with room for potential expansion. Brian Kelly, Brett R. Hatcher and Gabriel Coe had the listing on behalf of the seller, an LLC. Steve Chaben, Michigan broker of record, helped close the transaction.
Marcus & Millichap also announced the sale of the three-property St. Stephen Storage in Saint Stephen, SC. Its three properties have a combined 323 non-climate-controlled units totaling 43,820 NRSF and a combined occupancy of 93 percent. There also are 25 parking spaces available for rent. Jonathan M. Fawley, Brett R. Hatcher and Gabriel Coe had the listing on behalf of the seller, an individual/personal trust. Ben Yelm, South Carolina broker of record, helped close the deal.
Marcus & Millichap negotiated the sale of AllSafe Storage in Cypress, TX, northwest of Houston, TX. It has 354 climate-controlled units, 107 non-climate-controlled units and 187 outdoor storage spaces for a total of 59,625 NRSF. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a Texas-based LLC, and also found the buyer, a national REIT.
Marcus & Millichap announced the sale of Lakeland Climate Controlled Self Storage in Lakeland, FL. It has 74,250 square feet. The newly built facility features 758 climate-controlled units in three stories. The buyer is an LLC. Jonathan Fawley, Brett R. Hatcher and Gabriel Coe found the buyer. Ryan Nee, Florida broker of record, helped close the transaction.
Marcus & Millichap announced the sale of the IAA Auto Storage Two Property Portfolio, located in Shirley and Templeton, MA. They have a combined 96 acres of land. The Templeton lease has 12 years remaining; the Shirley lease has 10 years. The latter is the largest insurance salvage auction site in New England. Jonathan M. Fawley, Brett R. Hatcher and Gabriel Coe had the listing. The seller is an LLC. Thomas Shihadeh, Massachusetts broker of record, helped close the transaction.
Marcus & Millichap announced the sale of a Public Storage-managed facility in Louisville, KY (above). It has 45,150 square feet spread across 361 climate-controlled units, and was completed in 2022. Jonathan M. Fawley, Brett R. Hatcher and Gabriel Coe had the listing and found the buyer; both the seller and buyer are LLCs. Colby Haugness, Kentucky broker of record, helped close the transaction.
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