Sold! Weekly Self-Storage News Round Up 12.8.21
Spartan Investment Group purchased 18 self-storage facilities in Texas this quarter as it executes its plan to expand their FreeUp Storage brand across the United States. The facilities combined span more than 742,000 square feet. The Texas buys are in Dallas-Fort Worth and East Texas, giving FreeUp 1.5 million square feet and 11,265 units in the state. In 2022, it expects to add $500 million in new assets en route to building a $1 billion portfolio branded as FreeUp Storage. The East Texas acquisition includes three facilities and two satellite locations in Tyler, TX. Overall in 2021, the company closed on $200 million in purchases in Texas, Georgia, Tennessee, Wisconsin, Oregon and Colorado.
Strategic Storage Trust VI Inc., which is sponsored by an affiliate of SmartStop Self Storage REIT Inc., purchased a newly constructed, 650-unit, 68,500-square-foot self-storage facility at 4730 E. Baseline Road in Phoenix, AZ. It’s Maryland-based SST VI’s fifth acquisition and the third property it owns in the Phoenix market. The facility is positioned to serve Knoell Gardens, South Mountain, Ahwatukee and South Tempe. Source: BusinessWire
SVN/Masiello Commercial completed the sale of 637 W. Main St. in Tilton, NH. Titan Self-Storage LLC bought the 6.75-acre parcel, which has a newly built self-storage facility, with 11 buildings and one office totaling 67,050 rentable square feet. Matthew Bacon and Cassandra Farley of SVN/Masiello Commercial represented the seller, 637 W. Main St. LLC. Doug Martin of KW Commercial represented the buyer. Source: Nerej
SkyView Advisors announced the sale of an Oak View Capital Partners portfolio, with eight self-storage properties in Texas, Kansas and Missouri. The portfolio has 619,763 NRSF and 6,029 units in the Dallas-Fort Worth, TX and Kansas City, KS-MO metro areas. Ryan Clark, SkyView’s director of investment sales, represented the seller.
The Storage Acquisition Group announced the closing of 2424 Castleton Commerce Way in Virginia Beach, VA. Cowles M. Spencer, CEO of SAG and vice president of Mid Atlantic Commercial Realty in Yorktown, VA, negotiated the deal. The facility has 390,816 NRSF in 795 units, climate-controlled and non-climate-controlled, as well as 186 RV parking spots. It’s located in the fastest-growing residential area in Southeast Virginia.
Andover Properties LLC (dba Storage King USA) bought Maxi Self Storage in Naples, FL, its 29th property in Florida. The facility has 42,000 NRSF, and both climate- and non-climate-controlled space in 387 units. Andover is based in New York City, NY, with offices in Miami, FL and San Francisco, CA
Midcoast Properties Inc. announced the sale of Vine View Storage on NC State Highway 11, about 42 miles southeast of Atlanta, GA in Social Circle, GA. Michael Morrison of Midcoast Properties Inc. represented the seller. The buyer was local. The property is on 5.6 acres, with four buildings containing a combined 116 standard self-storage units totaling 18,000 square feet. It also has a 2,400-square-foot retail space.
Marcus & Millichap
The LeClaire-Schlosser Group of Marcus & Millichap arranged the sale of TK Secure Storage (pictured above) at 1115 W. 200 North in Logan, UT. Jordan Farner, senior investment associate in the Marcus & Millichap Salt Lake City office, and Adam Schlosser, senior vice president investments in the Denver office, represented the seller. The buyer was a regional self-storage development firm. The facility has 241 drive-up storage units, 15 outdoor parking spaces and 37,936 square feet.
Marcus & Millichap brokered the sale of Easy Self Storage, a 236-unit facility in Houston, TX that was built in 1984. Dave Knobler of Marcus & Millichap represented the seller, a private investor, and also found the buyer, an LLC. The facility has 29,716 NRSF across 172 non-climate-controlled units and 54 climate-controlled units.
Marcus & Millichap Real Estate Investment Services of Seattle Inc. announced the sale of Cherryville Self Storage, a 58,075-square-foot facility in Cherryville, PA, about 11 miles north of Allentown, PA. Nathan Coe, Brett R. Hatcher and Gabriel Coe, investment specialists in Marcus & Millichap’s Columbus, OH office, had the listing. Sean Beuche, Pennsylvania regional manager and broker of record, helped close the transaction. The business has 89 climate-controlled units and 315 non-climate-controlled units. It’s on a 5-acre spot and was built in the late 1990s.
Originally published on SpareFoot.com
The Roll Up: Weekly Self-Storage Development News 8.10.22
SOLD! Weekly Self-Storage News Round Up 8.10.22
SecureSpace Self Storage Announces Biggest Deal in Company’s History
We interviewed Nathan McElmurry, SecureSpace’s head of self-storage acquisitions, regarding the announcement of their biggest acquisitions deal in the company’s history.Keep Reading