Sold! Weekly Self-Storage News Round Up 11.2.22
Arcland Property Co. purchased two properties in off-market deals. One is at 4551 Eisenhower Ave. in Alexandria, VA. The other is at 3700 Plyers Mill Road in Kensington, MD, and has 9 acres in the Eisenhower Ave Corridor as well as drive-up storage units and outdoor parking spaces. The Maryland property (pictured) has vehicle, boat and RV parking. Combined, the purchase has 281,000 square feet spread across about 3,100 storage units. Self Storage Plus will manage both properties.
Source: Self Storage Plus
StorageMart purchased two properties from AAAA Self Storage. The acquisition adds 316,304 net rentable square feet, including 1,860 units and 14 parking spaces. The properties are in Virginia Beach, VA. The Burnham family has led the company for four generations. Upgrades will include a new OpenTech Gate, offering renters contactless entry onto the property through the “StorageMart Unlocked” app. Source: PR Newswire
Ziff Real Estate Partners, based in Mount Pleasant, SC, bought six self-storage properties in the Southeast and in Colorado, totaling 2,750 climate- and non-climate-controlled units, including boat and RV rental space. They have a combined 340,000 NRSF. Ziff bought the assets via its ZRP Storage Opportunity Fund. The new assets are four existing properties: Morristown Self Storage in Morristown, TN; J&S Self Storage in Fountain, CO; Mocks Highway 20 Self Storage in Cumming, GA and Atlas Business Center in Gainesville, GA. Also, there are two buildings – in Roanoke, VA and Waldorf, MD – that will be converted to self-storage branded as StoreEase. Source: REBusiness Online
Berkshire Hathaway announced the sale of CubeSmart Self Storage (managed) in White Marsh, MD (below). The facility has 96,872 NFSF spread over 1,092 units. The seller is a private developer and the buyer is a private one from Texas. Cameron Vale, senior vice president, and Parker Sweet, president, brokered the transaction. Source: Berkshire Hathaway
Pogoda Cos. bought an off-market self-storage property in New Albany, IN, which is a submarket of Louisville, KY. The site formerly was the Ameri-Guard Storage Center. It has 95,000 square feet and added an expansion this year. It will be rebranded under National Storage. Pogoda has more than 3.75 million square feet of self-storage space in 58 storage centers in Michigan, Kentucky, Ohio and Indiana. It’s based in Farmington Hills, MI. Source: Pogoda Cos.
Storage Exchange closed five self-storage transactions in October that added up to more than 245,000 square feet:
- McCall & Sunflower Self Storage in Manhattan, KS, with two properties totaling 118,390 rentable square feet. The facilities are 2.4 miles from each other. Hunter Molnar, vice president of investment sales for Storage Exchange, facilitated the sale.
- Ottawa Route 6 Storage in Ottawa, IL. Taylor Cahn, vice president of investment sales, represented the seller in the deal.
- Dollarway Storage in Pine Bluff, AR, with 24,100 square foot, includes an additional 6,000 square feet of vacant warehouse space. Spencer Molnar, associate, worked the sale.
- Pac-Away Self Storage in Crawfordsville, IL, which has 26,000 square feet plus another 1.75 acres for expansion. Maggi Steury, associate, and Taylor Cahn facilitated the sale.
- S.I. Safe Storage in Energy, IL. The deal includes .46 acres of land for expansion and totals 43,600 rentable square feet. Spencer Molnar handled the transaction.
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