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.
A+ Storage in Mt. Juliet, Tenn., was sold. The 7.95-acre property at 166 Belinda Parkway comprises 92,320 rentable square feet in 413 units. The seller was represented by Ashley Compton, national director of the self-storage group for Colliers International.
Cottonwood Self Storage in El Paso, Texas, was sold to a private investor. The property at 12500 Pellicano Drive comprises 35,058 square feet. The buyer and the seller, a limited liability company (LLC), were represented in the transaction by Jon Danklefs, an investment specialist for Marcus & Millichap (M&M).
DeSoto KS Self-Storage in DeSoto, Kan., was sold to a private investor based in Gladstone, Mo. The property at 9520 Lexington Ave. comprises 41,555 net rentable square feet in 331 units. The facility was built in 2007 and expanded in 2015. The buyer and the seller, CKC Holdings LLC of Waldron, Mo., were represented in the transaction by Bill Bellomy and Michael Johnson, brokers with Bellomy & Co.
Easton Public Storage in Easton, Pa., was sold for $1.105 million to a private investor. The 2.57-acre property at 3321 Sullivan Trail includes four buildings containing 230 interior and drive-up units as well as 40 outdoor vehicle-storage spaces. The buyer and the out-of-state seller, Charlie Byrne, were represented in the transaction by George Hatchard, brokerage advisor for Investment Real Estate (IRE).
Elite Self Storage at 4395 Lisa Drive in Tipp City, Ohio, was sold to a local owner-operator. The seller was represented by Jesse Luke, managing partner for EquiCap Commercial.
Greystone Mini Storage in Cabot, Ark., was sold for $280,000 to Lafever Self Storage LLC of Cabot. The 2-acre property at 14415 AR-5 contains three buildings comprising 4,500 square feet in 97 units. The seller was Greystone Mini Storage LLC.
Kingston Self Storage in Kingston, Pa., was sold for $3.1 million to a private investor. The 3.38-acre property at 15 Marion Drive features eight buildings containing 235 drive-up and interior units. The seller, The Curreri Family, was represented in the transaction by Justin Quinto, a brokerage advisor for IRE.
Two Lock It Up Self Storage facilities in Fremont and Sunnyvale, Calif., were sold for $27.8 million in separate transactions. The property at 38491 Fremont Blvd. in Fremont sold to a private investor for $12.3 million. Constructed in 1986, it comprises 54,550 net rentable square feet in 637 units and six vehicle-storage spaces. The Sunnyvale property at 220 W. Ahwanee Ave. sold to a multi-family property investor for $15.5 million. Built in 1987, it comprises 44,781 rentable square feet in 517 units. The buyer and the seller were represented in the transactions by Adam Levin, senior managing director, and Jacob Becher, associate, with M&M.
Nations Storage in Houston was sold. The property at 22300 TX-249 comprises 64,280 square feet in 516 units. The seller, a father-and-son partnership, was represented in the transaction by Dave Knobler, first vice president of investments, and Charles “Chico” LeClaire, executive managing director of investments, for M&M.
Scotty’s Corie’s Storage in Shreveport, La., was sold. The property at 4812 Monkhouse Drive comprises 33,191 square feet in 224 units. The buyer and the seller were represented in the transaction by Knobler and LeClaire. Fellow broker Chris Shaheen assisted.
A two-property Self Storage 1 portfolio in Houston and Los Angeles was sold to a national owner-operator. Together, the facilities at 5321 Richmond Ave. and 11820 W. Olympic Blvd., respectively, comprise more than 158,000 square feet. The seller, Cardiff Mason Development of San Jose, Calif., was represented in the transaction by Greg Wells, senior director of brokerage services for Cushman & Wakefield, and Steve Mellon and Brian Somoza, managing directors, for JLL Capital Markets.
Self Storage of Goerkes Corners in Waukesha, Wis., was sold for $9.5 million to an LLC affiliated with Baron Properties of Denver. The property at 21300 Doral Road was constructed in 2015 and contains 555 units. The buyer and the seller, an LLC, were represented in the transaction by Sean M. Delaney and Michael A. Mele, investment specialists with M&M. Fellow broker Todd Lindblom assisted.
Storage Works in Soddy Daisy, Tenn., was sold. The property at 8701 Dayton Pike comprises 42,450 rentable square feet and includes an acre of undeveloped land. The seller was represented in the transaction by Mary Ann Maksinski, vice president of marketing for EquiCap, and Anne Williams, a broker with M&M.
Sunny’s Self Storage in Newfield, N.Y., was sold for $3.45 million to an LLC. The property at 1273 W. Danby Road comprises 49,550 rentable square feet with room to expand. The buyer and the seller, a personal trust, were represented in the transaction by Gabriel Coe, Nathan Coe and Brett Hatcher, investment specialists with M&M. John Krueger, regional manager for M&M, assisted.
With offices in Atlanta, Houston, and Austin, Texas, Bellomy & Co. focuses on the sale of self-storage, industrial, office and retail properties nationwide.
Colliers is a global commercial real estate services firm employing more than 16,000 professionals who operate out of 554 offices in 66 countries. The company offers a variety of services for business owners, developers and investors.
Founded in 1917, Cushman & Wakefield offers a complete range of services for all property types including consulting and appraisal, corporate services, debt and equity financing, investment banking, leasing, and sales and acquisitions.
Headquartered in Saint Charles, Ill., EquiCap is a boutique brokerage firm specializing in the self-storage industry. Its primary focus is in 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.
JLL is a full-service global provider of capital solutions for real estate investors and occupiers. The firm completed $170 billion in investment sale and debt and equity transactions globally in 2017. The firm’s Capital Markets team comprises more than 2,000 specialists globally.
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.
Sources:
Northwest Arkansas Democrat Gazette, Texas Company Buys Little Rock Hotel at I-630 for $10.4M
Rebusiness Online, Levin Johnston Arranges $27.8M Sales of Two Self-Storage Facilities in Bay Area
