Sold! Weekly Self-Storage News Round Up 5.4.22
JLL Capital Markets aided the sale of Vancouver Self Storage, a 1,134-unit, climate-controlled self-storage complex at 16600 SE 18th St. in the Fisher’s Landing East neighborhood, about 20 miles north of downtown Portland, OR in Vancouver, WA. The cost was $25 million and the buyer was Strategic Storage Trust VI Inc., a Maryland corporation. The JLL team representing the seller, an affiliate of Banner Real Estate Group, was comprised of Brian Somoza, Steve Mellon, Christopher Ross and Ethan Goldberg.
Sources: JLL Capital Markets and The Registry
Absolute Storage Investments purchased a former Storage Solutions and renamed it Absolute Storage of Maumelle, and manages it under Absolute Storage Management. The facility is based in North Little Rock, AR. Absolute Storage of Maumelle has 331 units – some climate-controlled, some not – totaling 41,740 rental square feet. It was built in 2008. Source: Absolute Storage Management
Invesco Real Estate Income Trust Inc. purchased a 100% interest in a 52,275-square-foot, 491-unit self-storage facility at 3975 University Parkway in Winston-Salem, NC. It’s about 15 miles from Wake Forest University. This is the company’s third self-investment. Its self-storage portfolio is now at $75 million. Source: PR Newswire
Marcus & Millichap
The LeClaire Schlosser Group of Marcus & Millichap arranged the sale of Ballpark Self Storage in Adelanto, CA. Keith Phillips and Adam Schlosser had the listing to sell the property on behalf of the seller, a California-based LLC. Nova Storage, which has several locations in Southern California, was the buyer. The facility has 45,000 square feet spread over 376 units, and is set between Highway 395 and Adelanto Road.
Also, the group purchased the Men on the Move portfolio (above), which has two properties (1110 Route 109 in Farmingdale and 960 Grand Blvd. in Deer Park) in Long Island, NY. They have a combined 2,304 units and 208,104 NFSF. Ian Lindahl and Adam Schlosser had the listing and also found the buyer, an LLC from California; the seller is a local LLC. The seller converted the Deer Park site from an old warehouse into a storage facility. Source: Marcus & Millichap
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