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.
51st Street Storage in Tulsa, Okla., was sold to a private investor. The property at 4512 E. 51st St. comprises 53,250 square feet of storage space. The buyer was represented in the transaction by Jared Jones, managing broker of Jones Investment Properties and an affiliate of the Argus Self Storage Sales Network.
Arizona Storage Inns in Mesa, Ariz., was sold for $8.9 million. The property at 1750 N. Country Club Drive contains 11 buildings comprising 82,000 square feet of storage space in 800 units. It also includes 130 vehicle-parking spaces. The buyer and the seller were represented in the transaction by Bill Alter, managing director for Rein & Grossoehme.
Attic XII Self Storage LLC purchased West Town Square shopping center in Rome, Ga., for $8.6 million. The property at 2204 Shorter Ave. N.W. comprises 84,828 square feet of space. The buyer and the seller, Eck-Phoenix LLC, were represented in the transaction by Joe Montgomery, senior vice president, and Tony D’Ambrosio, senior vice president and principal, of Colliers International.
Extra Room Self Storage in Midland, Ga., was sold. The facility at 6700 Flat Rock Road comprises 65,175 square feet of storage space in 418 climate-controlled and drive-up units. The transaction was brokered by David Spencer, vice president of The Storage Acquisition Group (TSAG). He was assisted by Monty Spencer, CEO and president of TSAG.
U Storage OK in Oklahoma City was sold to a private investment group. The 7.89-acre property is at 14000 N. Interstate 35. The buyer was represented in the transaction by Brian Fulton, associate with Marcus & Millichap (M&M). The seller, a limited-liability company, was represented by Trey Hammond, senior associate, and Michael A. Mele, senior managing director investments, both with M&M.
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.
Colliers is a global commercial real estate services firm employing more than 16,000 professionals who operate out of 554 offices in 66 countries.
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.
Founded in 1993, Rein & Grossoehme specializes in the sale of investment properties and retail as well as office and industrial leasing.
Based in Yorktown, Va., TSAG represents a private real estate investment fund that's solely focused on acquiring self-storage facilities.
Sources:
Digital Journal, The Storage Acquisition Group Announces the Sale of An Extra Room Self Storage
Rebusiness Online, Colliers Brokers $8.6M Sale of Shopping Center in North Georgia
