Sold! Weekly Self-Storage News Round Up 8.24.22
Invesco Real Estate, in partnership with Baranof Holdings, purchased the 1,752-square-foot self-storage facility at 72 Florida Avenue NE in Washington D.C. Operating as an Extra Space Storage facility, the property opened in March 2020. The JLL Capital Markets self-storage team, led by Steve Mellon and Brian Somoza, represented the seller—real estate firm Foulger-Pratt.
An unnamed REIT purchased Create Space Storage in Amarillo, TX from a private seller. The facility offers 278 self-storage units across 31,912 square feet. Cameron Vale, Parker Sweet and Josh Cato of Berkshire Hathaway arranged the deal.
A regional buyer purchased Taylor’s Linden Mini Storage in Linden, NC. The 35,352 square foot facility at 10889 Ramsey Street offers 265 drive up units and parking spaces. Midcoast Properties represented the seller, with Hal H. Tanner III as lead broker.
SkyView Advisors arranged the sale of Betta Stor-It (below), a 54,000-square-foot self-storage facility in Mobile, AL. The facility offers 380 units and features a full-automated kiosk system. Kyle Baptist, Richard Riddle, and Scott Schoettlin arranged the deal.
CBRE Self Storage Advisory Group
CBRE arranged the sale of two self-storage facilities in the Charlotte suburbs for a total of $23.5 million. Lakeland Village acquired both facilities, which operate under the Extra Space Storage brand. Morgan Windbiel of CBRE represented the seller. The facilities are located at 725 Jake Alexander Boulevard S. in Salisbury, NC (66,000 square feet) and 1110 Brawley School Road in Mooresville, NC (70,994 square feet).
Property Investment Co. sold Affordable Park Place Storage in Grants Pass, OR for $3.75 million to an unidentified buyer. The facility is located next to Grants Pass Airport and offers storage units for RVs and classic cars.
BuxBear Storage, a facility in Tulsa, OK was sold for $6.85 million. CBRE represented the seller, East 21st Storage LLC. The facility is located across the street from the Eastgate Metroplex Business Park.
Marcus & Millichap
An undisclosed buyer purchased a portfolio of 24 KO Storage facilities in Minnesota. The portfolio spans more than 700,000 square feet. Nathan Coe, Gabriel Coe and Brett Hatcher of the Columbus office of Marcus & Millichap arranged the deal. Purchase price was not disclosed.
In Colorado Springs, another BuxBear Storage facility changed hands. Brett Hatcher, Gabriel Coe and Nathan Coe represented the seller. The 111,360-square-foot facility offers 605 store units. The facility also features rental kiosks and a live in management office.
An unnamed buyer purchased MAX Storage, a 148,040-square-foot self-storage facility located in Hurricane, UT. The facility features 971 units and opened in July 2021. The sale was arranged by Jordan Farrer and Adam Schlosser of the Denver-based LeClaire-Schlosser Group. Farrer said that to their knowledge the deal is the largest single self-storage transaction in the state of Utah. Purchase price was not provided.
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