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Riordan and Milner Corona purchased the StorQuest Self Storage in Riverside, Md., for $6.18 million, which equates to about $10,317 per unit/space. Corona Self Storage sold the facility, which contains 497 units and 102 RV spaces on about 3.6 acres. The 62,339-square-foot building was constructed in 1984 and is currently 90 percent occupied. Joseph Saltzman and Gregory Wells of Grubb & Ellis BRE Commercial represented the seller and the buyer. Info: 619.237.1410
MW Group Ltd. opened its third Oahu, Hawaii, storage facility in January. The 171,000-squarefoot, four-story Hawaii Self Storage-Kaimuki building has 1,600 units that range from 16 square feet to more than 400 square feet. The fully air conditioned facility that includes a business center for customers. MW Group spent more than $100,000 on the buildings exterior, which features a large clock tower and three large mosaics. Hawaii Self Storage, which also has facilities in Mapunapuna and Pearl City, plans to open a total of eight storage facilities on Oahu by next year. Info: 808.533.7468; www.mwgroup.com
Argus Self Storage Sales Network reports several transactions. Broker affiliate Joseph Mendola of NAI Norwood Group in Bedford, N.H., represented the seller of Shawmut Self Storage, a 41,700-square-foot facility in Franklin, N.H. The property sold for $1.6 million. The facility has two locations on the main thoroughfare in Franklin and appealed to the buyers because of the visibility and expansion possibilities.
Richard G. Arnold of Arnold/Forcum & Associates represented the seller of All Your Treasures Mini Storage in Medford, Ore. The property sold in November for $4.6 million at a 7.16 percent cap rate. The facility consists of 76,870 square feet with 554 units situated on 5.62 acres.
Barry Comiskey and John Owens of Westar Commercial Realty represented the seller of KeepSafe Self Storage in Lubbock, Texas. The 41,370-rentablesquare- foot facility, situated on 3.7 acres, sold at a 10 percent cap rate.
Advanced Stor N Loc in Ridgecrest, Calif., sold for $1 million. The sellers were represented by Clifford Crowe and David Anderson of Lee & Associates-Carlsbad. The 10,900-rentable-square-foot property is on 3.6 acres and offers future expansion potential. The property reached 96 percent occupancy after only four months of opening.
Based in Denver, Colo., the Argus Self Storage Sales Network was formed in 1994 to better assist owners and investors of self-storage. Info: 303.317.4232; [email protected]
Smartbox Portable Self Storage will open a franchise in Denver and surrounding areas in late February. The announcement comes on the heels of Smartbox bringing its storage solutions to Jacksonville, Fla., and Baltimore. The new Denver franchise will be able to service nearly 4 million Colorado people in the areas around Boulder and Denver. Info: 804.788.1414; www.smartboxusa.com
