Self-storage properties are constantly changing hands, and Inside Self-Storage is regularly notified of these market transactions. Many are covered in detail on the ISS website and available for viewing on the “Acquisitions and Buying” topics page. Following are additional acquisitions and sales that weren’t covered.
106 Self Storage in Plympton, Mass., was sold for $3 million to a private investment firm. The 6-acre property at 106 County Road comprises eight buildings containing more than 330 units and a rental office. The transaction was facilitated by Investment Real Estate LLC (IRE).
The two-property A Self Storage Depot portfolio in North Carolina was sold for $8 million. Built in phases, the properties at 450 Naples Road in Hendersonville, N.C., and 875 Charlotte Highway in Fairview, N.C., comprise 71,450 rentable square feet of storage space in 503 units. The seller was represented in the transaction by James Cox, vice president, and Joey Godbold, CEO, of SVN Percival Partners LLC, both broker affiliates for the Argus Self Storage Sales Network.
Aberdeen Mini Storage in Aberdeen, Wash., was sold for $2.2 million to a California-based buyer. The 1.8-acre property at 316 S. Washington St., comprises 44,689 square feet of storage space in 327 units. The buyer and the seller, a national self-storage operator, were represented in the transaction by Christopher R. Secreto, an investment specialist for Marcus & Millichap (M&M).
Brazos Moving and Storage in College Station, Texas, was sold to a limited-liability company (LLC). Completed in January, the property at 10099 State Highway 30 comprises 60,550 rentable square feet of storage space in 408 units. The buyer and the seller, an LLC, were represented in the transaction by Dave Knobler, first vice president of investments, and Charles “Chico” LeClaire, executive managing director of investments for M&M.
A Dallas self-storage facility managed by real estate investment trust CubeSmart was sold. Opened in 2017, the property at 5505 Maple Ave. comprises 100,239 rentable square feet in 1,111 units. The buyer and the local seller were represented in the transaction by John Arnold, Bill Bellomy and Michael Johnson, brokers with Bellomy & Co.
East Hickman Self Storage at 8103 Vaughn Circle in Lyles, Tenn., was sold for $2.7 million. The off-market transaction was co-brokered by EquiCap Commercial and Argus affiliates from Grisanti Group Commercial Real Estate.
F&R Grand Avenue Mini Storage in Peoria, Ariz., sold for $2.1 million to an international self-storage investment group. The property at 8543 Grand Ave. spans just over an acre and contains 338 units. The California-based seller was represented in the transaction by Jeff Gorden, vice president, and Kyle Topper, associate, for Eagle Commercial Realty Services, both Argus affiliates.
Fortuna Road Storage in Yuma, Ariz., was sold to a private investor. The property at 11707 S. Fortuna Road comprises 61,218 square feet of storage space in 434 units. It also contains vehicle-parking spaces. The buyer and the seller, also a private investor, were represented in the transaction by Devin Beasley, land-investment advisor, Luke Elliot, investment specialist, and Michael A. Mele, senior vice president of investments, for M&M.
Great Space Storage in Bonita Springs, Fla., was sold to a private buyer. The 2.9-acre property at 11301 Bonita Beach Road S.E. comprises 40,230 rentable square feet in 329 units. It also contains two apartment units and 17 parking spaces. The seller was represented in the transaction by Ryan Clark, director of investment sales, for SkyView Advisors.
Hyde Park Storage in Tampa, Fla., was sold to a private investor. The property at 1600 W. Platt St. comprises 10,916 rentable square feet in 205 climate-controlled units. The buyer and the seller, also a private investor, were represented in the transaction by Elliot, Mele and Brian Fulton, investment associate, for M&M.
Elmo Storage in Austin, Texas, sold to a Houston-based buyer. The property at 405 E. St. Elmo Road contains 319 units. The buyer and the local seller were represented in the transaction by Arnold, Bellomy and Johnson.
Self Storage Centers of America in Tampa, Fla., was sold to a private investor. The property at 9234 Causeway Blvd. comprises 79,325 rentable square feet of storage space in 705 units. The buyer and the seller, also a private investor, were represented in the transaction by Elliot and Mele.
Southside Storage at 4724 S. Walnut St. Pike in Bloomington, Ind., was sold. The seller, an LLC, was represented in the transaction by Mele, Sean M. Delaney and Jeffrey L. Herman, investment specialists with M&M. They were assisted by M&M Regional Manager Joshua Caruana. The buyer was represented by Jeff Brawley, managing broker for Weichert, Realtors – The Owens Group.
Springfield Mini Storage in Sonora, Calif., was sold for $1.65 million to Huntington LP of Burbank, Calif. The 1.74-acre property at 21660 Brian Lane contains five single-story buildings comprising 26,230 rentable square feet of storage space in 278 units. It also includes a manager’s office and residence. The seller, 1426 Investments, was represented in the transaction by Bobby Loeffler, president, and Tyler Skelly, national director, of The Loeffler Storage Group.
Storage Saums Road in Katy, Texas, was sold to a Dallas-based buyer. The 2.96-acre property at 19936 Saums Road comprises 27,270 rentable square feet of space in 306 units, and includes land for expansion. The buyer and Conroe, Texas-based seller were represented in the transaction by Arnold, Bellomy and Johnson.
Stow Away Mini Storage in Yuba City, Calif., was sold for $1.4 million to an exchange buyer from Redding, Calif. The 2.64-acre property at 889 N. George Washington Blvd. contains 11 single-story buildings comprising 30,965 rentable square feet of space in 264 units. It also includes 24 open-parking stalls, a manager’s office and residence. The buyer and the seller, Dannye A. De Lorenzo Trust, were represented in this transaction by Loeffler and Skelly.
Superior Storage in Edinburg, Texas, was sold to a San Diego-based buyer. The property at 3102 S. McColl Road comprises 70,640 rentable square feet in 542 units. The buyer and Texas-based seller were represented in the transaction by Arnold, Bellomy and Johnson.
Tallassee Mini Storage in Tallassee, Ala., was sold for $915,000 to a local investor. The 2.2-acre property at 89089 Tallassee Highway comprises 27,400 rentable square feet of storage space in 190 units. The seller was represented in the transaction by Bill Barnhill and Stuart P. LaGroue, both Argus affiliates.
A two-property portfolio in Clinton, Mo., was sold for $1.79 million to Eagle Avenue Storage LLC. Highway 7 Storage at 252 N.W. Highway 7 comprises 53,530 rentable square feet. EMC Self Storage at 502 E. Pine St. contains 15,024 rentable square feet and has room for expansion. The seller was represented by Larry Goldman, an investment property specialist for RE/MAX Commercial and an Argus affiliate.
Phillips Development & Realty purchased a 1.5-acre parcel on Southwest Boulevard in Kansas City, Kan., on which it plans to build a 100,000-square-foot storage facility containing 710 units. Construction is slated to begin during the third quarter, with the facility opening in late 2019.
A private investor has purchased a 7.3-acre property at 27 N. Courthouse Road in North Chesterfield, Va., to develop a self-storage facility. The buyer and the seller, an LLC, were represented in the transaction by Elliot and Mele.
Argus is a Denver-based network of real estate brokers who specialize in storage properties. Formed in 1994, the company has 36 broker affiliates covering nearly 40 markets.
With offices in Atlanta, Houston, and Austin, Texas, Bellomy & Co. focuses on the sale of self-storage, industrial, office and retail properties nationwide.
Headquartered in Saint Charles, Ill., EquiCap is a boutique brokerage firm specializing in the self-storage industry. Its primary focus is the mid-west and mid-south markets.
Since its inception in 1998, IRE has provided brokerage, construction, development and management services to self-storage owners and investors.
The Loeffler Self-Storage Group specializes in self-storage real estate in California and Nevada, having closed more than 80 transactions in those states.
Founded in 1971, M&M is a commercial-property investment firm with more than 1,500 investment professionals in offices throughout Canada and the United States.
SkyView is a boutique firm specializing in self-storage acquisition, development, facility expansion and renovation, refinancing, and sales. Based in Tampa, Fla., the firm also has offices in Cleveland and Milwaukee.
Source:
Rebusiness Online, Phillips Development Buys 1.5-Acre Site, Plans 100,000 SF Self-Storage Facility in Kansas City
