Phoenix-based U-Haul International Inc. is converting a Bangor, Maine, building that once housed machinery and printing companies into a self-storage facility. U-Haul Moving & Storage of Outer Hammond at 415 Odlin Road just off Interstate 95 currently offers truck and trailer rentals. The 8-acre site includes two buildings totaling 30,100 square feet of space, and U-Haul plans to add a third.

Renovations are underway on the existing structures to add 330 storage units by the end of the year, according to Dave Martin, a general manager for U-Haul. Construction of the new building will begin in the spring, adding another 300 interior and drive-up units as well as a warehouse for more than 200 U-Box portable-storage containers, Martin said. Additional services will include hitch installation and propane sales. Once complete, the facility will employ 11 staff members.

Constructed in 1956, the buildings housed Caterpillar dealer Houghton-Arnold Machinery until the 1980s, and then Bacon Printing Co., the source reported.

The acquisition of the Bangor property was driven by U-Haul’s corporate sustainability initiatives, which support infill development to help local communities lower their carbon footprint, the source reported. U-Haul’s adaptive reuse of existing structures eliminates the amount of energy and resources required for new-construction materials and helps local cities diminish their unwanted inventory of unused buildings, U-Haul officials said.

Established in 1945, U-Haul International has more than 40 million square feet of storage space at more than 1,000 owned and managed facilities throughout North America.    

Phoenix-based U-Haul International Inc. is converting a former pharmaceutical-distribution center in Altoona, Pa., into a self-storage facility. U-Haul Moving & Storage of Park Hills at 1 Golfview Drive currently offers truck and trailer rentals, moving and packing supplies, and U-Box portable-storage containers. Renovations are underway to add about 400 climate-controlled storage units in early 2016, followed by a second phase and another 600 units, according to company press release. Security features will include individually alarmed units and video cameras.

The 7.5-acre property previously included a single-story, 115,909-square-foot building. The site is south of Interstate 99 in a commercial district near restaurants, Logan Valley Mall and the Park Hills Golf Club, the release stated.

"This location will be the absolute premier storage in Altoona and the surrounding area, including thousands of square feet of climate-controlled storage, drive-in loading and unloading," said Chris Schaffer, president of U-Haul Co. of Harrisburg.

The acquisition of the Altoona location was driven by U-Haul’s corporate sustainability initiatives, which support infill development to help local communities lower their carbon footprint, the release stated. U-Haul’s adaptive reuse of existing structures eliminates the amount of energy and resources required for new-construction materials and helps local cities diminish their unwanted inventory of unused buildings, U-Haul officials said.

Established in 1945, U-Haul International has more than 40 million square feet of storage space at more than 1,000 owned and managed facilities throughout North America.

By Thomas Van Ness

As self-storage buildings age, roof upkeep and repair become a more important and time-consuming aspect of facility management. An inspection and maintenance program is an important part of sustaining roof life as well a way to avoid costly repairs and property claims down the road.

The predominant roof system used in the self-storage industry is metal. With proper inspection and maintenance, this roof type can last for decades. The goals of a good program are to proactively locate and repair possible leaks while extending the life of the metal panels.

This inspection and care guide will help you keep your roof in the best possible condition. The most effective examination for metal-roof systems includes four specific areas: the perimeter, the ridge, fasteners and debris.

The Perimeter

Perimeter inspections are simple and quick. First, walk around the building at the ground level, looking for any loose guttering, if applicable. If your facility doesn’t have gutters, look along the eaves of the building.

There should be foam closure strips that are typically visible from the ground. These may shrink and erode over time. Missing closures can create several leak points along the walls and doors. The strips can be replaced fairly easily by removing the metal fasteners along the eave strut and lifting the metal panel. After each strip has been replaced, it’s a good idea to swap the old fasteners for new fasteners and seals.

After the ground inspection, walk the roof. This time, notice if the gutters are clean and free of debris, dirt and sediment. Anything that blocks drainage should be removed. It’s vital the gutters drain well to keep water from backing up during a rain. Areas of dirt and mud can be displaced using a water hose and small broom.

It’s also important to notice any areas of ponded water in the gutters. The low spots that hold water might be caused by mechanical damage or loose gutter straps. Make the appropriate repair to ensure good water flow to the downspouts and lengthen the gutter life.

The Ridge

The ridge is another important area for potential leaks. Walk along the side of the ridge cap—not on it—visually inspecting the fasteners. Those that are loose or missing should be replaced. Any misalignments found on the ridge cap need to be checked for proper sealant tape. If tape is lacking, apply sealant to that area.

If your building doesn’t have a ridge cap, then not only does the maintenance person need to inspect fasteners, he must pay careful attention to the creases in the metal panel. These can crack over time and create leaks. They can be fixed with a small amount of non-silicone sealant at the point of the fracture.

Fasteners

Effective fastener inspection requires walking each fastener row, one at a time. Fasteners are the single biggest maintenance concern on R-panel roof systems. Although it can be boring, it’s important not to rush this part of the inspection. The amount of water one loose fastener can allow into a facility is surprising.

As you walk the rows, notice the area around each fastener. If you see a circle of black particulates, this is your first sign that maintenance is needed. Those particulates are the remnants of the neoprene washer and the first indicator the fastener may begin to leak. It’s not guaranteed it will leak, but the odds go up significantly. The options are to remove and replace the fastener with a new one or apply non-silicone sealant to the top of the fastener, making certain to completely encapsulate the head.

Often, fasteners will succumb to the pressures of roof expansion and contraction, and simply “back out” of their tight position. This can often be visually identified. The fastener may be sticking up above the roof with exposed threads or, sometimes, it may be missing completely.

Debris

Debris on the roof can clog gutters as well as damage metal panels. Certain metal items can strip the Galvalume coating from the panels and dramatically shorten their life. Wire hangers and batteries are two of the biggest culprits, and the end result can be a large area of rust. The longer the metal item is on the roof, the greater the damage will be.

Leak Detection

In the self-storage industry, limited access to units makes leak identification a difficult task. I always recommend that any vacant units be inspected by the manager immediately following a significant rain. This opportunity to find unreported leaks may yield surprising results and can help alleviate complaints from tenants down the road. When a leak is identified, make or arrange repairs as soon as possible.

Schedule

Newer metal roofs should be inspected every 24 months to make certain all fasteners are in good condition and to remove all debris. As a roof ages or leaks begin to occur, the inspection schedule should change to every 12 months. If possible, keep records and photos of the roof condition. Often, similar issues will occur in the same basic area of the system. Having notes on what’s been done can dramatically shorten the time it takes when pursuing a leak.

A comprehensive inspection and maintenance plan will help you identify potential leaks before they become a serious issue and ensure your roof lasts as long as it should. Each roof is different and will have its own specific needs. However, a well-defined, timely inspection procedure will keep it watertight for decades.

Thomas Van Ness is the regional sales manager for Global Roofing Co., a full-service commercial roofing company serving the Midwest and South. He’s been with the company for four years. For more information, call 405.761.3876; e-mail [email protected]; visit www.globalroofingcompany.com.

Australian self-storage operator National Storage REIT (NSR) has signed a three-year sponsorship deal with the Richmond Tigers, an Australian-rules football team. NSR will receive branding on the sleeve of the team’s polo shirts beginning with the 2016 season, replacing flooring company Elegance Tiles, according to the team website.

“We’re thrilled to announce this partnership with an ambitious, successful organization like National Storage,” said Brendon Gale, CEO of the Richmond Football Club. “Both organizations share similar characteristics, which will see this partnership succeed. We both have a proud history, are determined to grow, and understand the importance of our members.”

The team and self-storage company will work together to build a stronger presence in the state of Victoria as well as communities in other states that have Australian Football League (AFL) teams, according to the source. Richmond is a suburb of Melbourne. The AFL is the highest level of Australian football and has 18 teams.

The Richmond club dates back to 1885 and has won 10 premiership titles, the last in 1980. The team is currently in fifth place, eight points out of first. NSR and the Tigers share black and yellow as part of their color branding.

“We are delighted to partner with a club that has such a loyal and dedicated supporter base in Melbourne, which is a key market for our business,” said Andrew Catsoulis, managing director of NSR. “Richmond shares our core principles and similarly places a high priority on teamwork, care and excellence, with a strong focus on family and community values. Richmond is on the rise, and we look forward to sharing in their continued success both on and off the field.”

NSR also recently became the premier sponsor for the Brisbane Broncos national rugby team. The deal includes featuring NSR’s logo on the back of the club's jerseys through the 2019 season.

NSR operates more than 90 self-storage centers in New South Wales, Northern Territory, Queensland, South Australia, Victoria and Western Australia. It’s the first independent, internally managed and fully integrated owner and operator of self-storage centers to be listed on the Australian Securities Exchange.

Stor-All Storage, which operates three self-storage properties in Florida and Georgia, is proposing to build a new facility in West Palm Beach, Fla. The 1.7-acre site is just west of the downtown area off South Australian Avenue. The development will be reviewed by the city’s planning board on Nov. 17, according to the source.

The plans include a five-story, 110,900-square-foot building at 1301 Mercer Ave. The property is owned by Clear Lake View LLC, which is managed by Richard Callahan of West Palm Beach. Miller Land Planning Inc., a Boynton Beach, Fla., firm, submitted the application to the city on behalf of Stor-All. The architect is Gregory Anderson Architecture in Deerfield Beach, Fla.

The property last traded for $2.75 million in 2005, the source reported. It’s currently under contract to an affiliate of Stor-All.

Founded in 1967 and based in Deerfield Beach, Fla., StorAll draws it roots from a construction company founded by brothers Norman and Robert Anderson. Its national portfolio was sold to self-storage real estate investment trust Public Storage Inc. for $430 million in 2013. The 44-property portfolio included facilities in five states and encompassed 2.7 million square feet in more than 26,300 units.

Dominion Chandler Self-Storage LLC has opened a facility at 295 E. Ocotillo Road in Chandler, Ariz. The property comprises 57,700 net rentable square feet in 505 climate-controlled units. It’s branded as Dominion Self-Storage and is one of several locations the company has planned for the Phoenix metropolitan area, according to a press release.

The project was built on 1.75 acres in a population-growth region. “There is a great demand for self-storage in this area,” said Raymond “Skip” Graham, managing partner. “The City of Chandler’s private- and public-sector efforts to attract high-value jobs to the city has really paid off. They are on the frontline when businesses expand or move to Arizona.”

Facility features include a ClickandStor move-in system, a covered loading and unloading zone, electronic building access, and video cameras. The business also sells moving and packing supplies, and accepts business deliveries for commercial tenants, according to the company website.

Dominion Chandler Self-Storage is an affiliate of the Dominion Group of Cos., which offers investment opportunities in real estate related syndications in Arizona and Texas. Brad Graham is also part of the Dominion Chandler company-management team. The self-storage facility is managed by 180 Self-Storage LLC, a Phoenix-based property-management and consulting firm specializing in self-storage. The firm is run by principals Jeff Helgeson and Tim Jones.

Affiliated companies of the Dominion Group include Dominion Real Estate Partners LLC, Dominion Real Estate Partners Investments LLC and Dominion Self-Storage Projects.

Capital Holdings of Arkansas LLC has purchased Peacock Warehouses in Jacksonville, Ark., from Jim Peacock Real Estate Co. and rebranded it as Capital Holdings Self Storage & Mini-Warehouses. The property at 100 Goodsell Drive is near U.S. Highway 67 in the Jacksonville Industrial Park. Hillside Management at 8105 Old Tom Box Road in Jacksonville will oversee facility operation.

The property offers more than 100 storage units ranging in size from 75 to 300 square feet. Security amenities include perimeter fencing and lighting.

Capital Holdings is a limited-liability company based in Davenport, Fla. Kevin J. Giguere is the registered agent, according to a source.

Jim Peacock Real Estate has provided real estate services to Cabot and Jacksonville, Ark., for 35 years. The company specializes in home rentals and sales.

By Marilyn Leslie

Opening a self-storage business in a new market has many potential pitfalls, but success is highly rewarding. Although the Asian self-storage industry is growing, the first pioneers had to learn by trial and error. Johnny Cash once said, “You build on failure. You use it as a stepping stone.” This is what we did when launching the MiniCo Asia Ltd. brand, which operated as MiniCo Self-Storage, in Hong Kong. Here’s what we learned from our experience.

Leasing vs. Buying

Under the misconception that purchasing property would be prohibitively expensive and daunting in Hong Kong, we chose to rent space for our first facility. We found leasing a building to be quite an adventure. Applying the U.S. pricing and leverage model was a mistake. We didn’t realize real estate appreciation was the major factor in any local business decision. Property owners constantly look for the highest and best value. Often it’s more profitable to demolish a building and start over.

Three years into our lease, with our storage facility at 100 percent occupancy, we received notification the building was being redeveloped as a mall. We had 30 days to move our customers and hand over an empty shell. We decided to purchase our next building.

Onsite Signage

Hong Kong sometimes appears to be one giant sign! What we learned is it’s essential to adapt any facility signage to the physical condition and location of the building. Our first sign was a 40-foot banner we placed on the 10th floor of the site. Visibility was excellent, but wind played havoc with the canvas. Over a period of three years, we repaired or replaced the sign four times. This was an expensive lesson. Future signs were well-placed and durable.

Expansion

In an attempt to add space to an existing store, we leased a satellite location one block away. Overflow customers were directed to the additional space using current staff. However, inconvenience, lack of onsite employees and limited signage resulted in low interest, occupancy and revenue. We duplicated the concept at a different location, with more proximity to an established store, offering more convenient access and a wider variety of unit sizes. This approach was more successful.

Marketing

Taking the concept of self-storage to Hong Kong required a lot of education—for ourselves and potential customers. Due to high traffic and visibility, marketing via a subway billboard seemed like a good idea. In reality, it was expensive and ineffective. Large concentrations of people moving quickly don’t notice a single sign, and we didn’t have the resources for multiple signs at different locations.

Affordable, late-night television advertising also drew limited interest and poor response. Other failed marketing efforts included ads in a high-end magazine, instant messaging and a premium inside-cover position in the Yellow Pages. Fliers were very effective in the beginning; however, as the competition copied the concept and flooded the market, they became less effective.

We found it necessary to constantly monitor our marketing results. Sourcing of storage inquiries became the priority in targeting our advertising dollars. We learned an Internet presence was highly successful and critical to getting our message to potential customers. Moveable billboards, such as a bus or van, attracted significant interest and inquiries. The most important elements of advertising proved to be consistency, ever-changing content and visibility.

Retail Sales

There’s no magic formula to determine the demand for retail products when setting up business in a new self-storage market. We found this out the hard way. One of our vendors offered us a good, one-time deal on 200 household-tool kits. The price was right and the product was high-quality. However, after 10 years, more kits had been given away than sold.

Customer demand was high for closet rods and shelving, due to the nature of goods being stored. Specialized cylinder locks were readily accepted as part of the rental process. This was good for retails sales as well as enhanced security and uniformity. There was little or no demand for affordable tenant insurance. Most customers in this market willingly accepted the risk of loss and chose not to insure. However, expatriate customers were very receptive and usually purchased the insurance.

There was no demand for services we initially provided. For example, stores close to mass transit were desirable, but there was no demand for transportation from train to store. Accessible parking was used on a limited basis, as few customers drove to the facility. We were able to serve more than 1,000 customers with only three parking spaces. We then leased the other spaces on a monthly basis.

Culture

To be successful, a self-storage operator must know his customers’ expectations, which can be very different depending on the culture. In Hong Kong, price is very important. Everyone wants a gift or discount. We used both successfully.

Cultural awareness is necessary in building customer trust. Hong Kong residents are superstitious about numbers, atmosphere, lighting and the environment. We actually changed some unit numbers in response to tenant sensitivity. For example, four is considered an unlucky number; therefore, units on the fourth floor were numbered without a leading four. This was problematic when doing the daily walk-through or trying to find a specific unit.

We also installed additional ceiling fans to satisfy some customers. In an effort to improve security, we added a secondary code system to each unit. This proved too cumbersome for some of our customers’ household help. Another facility installed a huge closed-circuit TV monitor in the reception area, but some customers felt it was an invasion of their privacy.

Staffing

In the beginning, there were no experienced self-storage professionals in Hong Kong. We initiated a training program to get staff up to speed, working closely with each employee to instill knowledge and confidence. Though their loyalty and work ethic were unsurpassed, they were hesitant to disagree or deliver bad news, even when it was critical to the facility’s success. Difficult customers traumatized them, and they didn’t want to identify problems or issues. They also had no sense of urgency. Through training and counseling, we ultimately developed a superior, effective group of professionals.

With an obsessive focus on customer service, we learned to adapt our business ideas to our customers and employees. It resulted in loyalty and growth for our brand.

Marilyn Leslie has been involved in the self-storage industry since 1998, when she began her career as chief financial officer for MiniCo Inc. She was part of the company’s pioneering effort to enter the Hong Kong self-storage market and is a former board member and treasurer of the Self Storage Association of Asia. Ms. Leslie was president of MiniCo Asia Ltd. from 2004 until the company was sold in February 2015. She’s currently the chief operating officer for New Empire Ventures Inc., which is developing self-storage properties in the United States. For more information, visit www.newempireventures.com.

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 “Real Estate” topics page. Following are additional acquisitions and sales that weren’t covered independently due to missing information such as buyer, seller, sale price or other relevant details.

The Storage Depot II in Scotts Valley, Calif., sold to a self-storage investment group in Southern California. The facility was on a ground lease and the sale was for the leasehold interest, according to a press release from Performance Self Storage Group Inc., the real estate firm that brokered the transaction. Built in 1998-99, the property at 90 Lockhart Gulch Road comprises 74,000 net rentable square feet of storage space in more than 690 units.

Airport Discount Storage in Kissimmee, Fla., sold for $4.9 million to a New York City-based investor. The property at 1004 N. Hoagland Blvd. is less than a quarter mile south of U.S. Highway 192, a tourist stop near the Walt Disney Resort, and in the Orlando Metropolitan Statistical Area, according to a press release from Marcus & Millichap, the real estate firm that brokered the transaction. Constructed in 1981, the facility sits on 3.15 acres. It encompasses 84,030 net rentable square feet of storage space in 474 units and also offers vehicle parking.

The buyer and the seller, a private investor, were represented in the transaction by Michael A. Mele, senior vice president investments in the Marcus & Millichap Tampa, Fla., office and senior director of the firm’s National Self Storage Group.

State Road 52 Storage in Hudson, Fla., sold for $5 million to a New York City-based investor. Built in 2008, the property at 11411 State Road 52 sits on just over 3 acres. It encompasses 43,928 net rentable square feet of storage space in 409 units.

Mele represented the buyer and the seller, a local investor.

My Neighborhood Storage Center in Orlando, Fla., sold for $8.5 million to a self-storage real estate investment trust. The property at 10053 Lake Underhill Road sits on nearly 10 acres and was constructed in 1997. It consists of 64,480 net rentable square feet in 572 units, and also offers RV parking.

Mele represented the buyer and the seller, a private investor.

Ace Storage in Clarksville, Tenn., sold for $2.5 million to a limited-liability company. The property at 519 Lafayette Road as well as a satellite location at 1683 Fort Campbell Road were included in the transaction. Combined, the properties are on just over 8 acres of land. They include 18 buildings and 64,692 square feet of storage space in 610 units.

Gabriel Coe and Brett R. Hatcher, investment specialists in the Marcus & Millichap Columbus, Ohio, office represented the seller, a limited-liability company, with the assistance of broker Anne Williams. The buyer was represented by Mele and Sean M. Delaney of the Chicago Oak Brook office.

A private investor purchased The Storage Shed in Brunswick, Ga., for $2 million. The property at 1238 Cate Road sits on 2.8 acres of land and includes 13 buildings. It encompasses 47,650 rentable square feet of storage space in 329 drive-up and climate-controlled units, and also offers vehicle parking. The property includes a large shop with an office and bathroom, and a two-story house.

Dale C. Eisenman, president of Hilton Head Island, S.C.-based Midcoast Properties Inc., represented the seller.

A two-property Locker Room Self Storage portfolio in Philadelphia sold to a private investment group for $10 million. The properties are less than 10 miles from each another. The Locker Room at 4391 Aramingo Avenue is just off Interstate 95 at Pennsylvania Route 90 and the Betsy Ross Bridge. Opened in 1989, the facility sits on more than 1.5 acres of land. The property at 2231 S. 62nd St. is southeast of Woodland Avenue, the primary artery in Southwest Philadelphia. Opened in 1989, it consists of more than 6 acres of land, with room to expand on a 2-acre rear parcel.

York, Pa-based real estate firm Investment Real Estate LLC (IRE) represented both parties in the transaction.

Fayette Self Storage in Fayetteville, Ga., sold for $9.2 million to a limited-liability company. The facility at 112 New Hope Road comprises 151,916 net rentable square feet of storage space in 793 units. In additional to self-storage, the property includes 18 retail and office spaces as well as approximately 2 acres of land for development.

Stacey Gorman and Mike McManus, investment specialists in the Marcus & Millichap Atlanta office, represented the buyer and the seller, a family-owned partnership.

That Storage Place in West Hurley, N.Y., sold for $3.2 million to a group of local investors. The property at 1586 Route 28 consists of 46,800 rentable square feet of drive-up self-storage and a 1,2000-square-foot office building. It sits on 9.6 acres of land, with room and approvals for an additional 32,000 rentable square feet. The buyers plan to build 13,500 rentable square feet of storage space, according to a press release from the Argus Self Storage Sales Network (ASSSN), a Denver-based brokerage firm.

The seller, That Storage Place LLC, was represented by Guy Blake, the ASSSN broker affiliate for Connecticut and New York and an associate real estate broker with the Hudson Valley, N.Y., office of Pyramid Brokerage Co.

Built by the seller in 1999, Canyon Security Storage in Canyon, Texas, was sold as a long-term investment. The rural property is two miles outside of Canyon, a small community in the Texas Panhandle and south of Amarillo. The facility received the “Reader’s Choice Award” for five years in the row, including this year, as the area’s favorite storage facility by readers of the “Canyon News,” according to a press release.

The seller was represented by David Etzold, owner of Etzold & Co. and the West Texas representative for ASSSN.

GNG Storage in Elgin, Okla., sold for $695,000 in an off-market transaction to a self-storage owner who operates one other facility. Built in 2006, the property at 6164 U.S.-277 encompasses 28,375 rentable square feet of storage space in 210 units.

Jared Jones, director of Porthaven Partners and an ASSSN broker affiliate, represented the buyer.

SRM Development LLC purchased Moss Bay Self Storage in Kirkland, Wash., for $10 million. The property at 333 Fifth Place S. sits on 2.4 acres of land. The seller is an entity related to John Pietromonaco of HRP Properties, according to a source.

StorageBlue acquired American Self Storage in Newark, N.J. The property at 200 Mount Pleasant Ave. is near New Jersey Route 21 in the city’s North Ward. StorageBlue now owns three self-storage facilities in the community.

Westland Park Self Storage in Lansing, Mich., sold to Storage Pros Acquisition LLC for $3.9 million. The seller, Westland Storage LLC, had owned the property for 30 years, according to a press release from Pogoda Cos., the real estate firm that represented the seller in the transaction. The property at 4742 Creyts Road comprises 71,900 square feet of storage space in 534 units. Built in 1988, it has nine buildings and sits on just over 5 acres. The facility is in the Delta Township on the west side of Lansing. The buyer plans to upgrade the property.

The broker representing Pogoda was Mark Floria, who also brokered the following transactions:

• The sale of ToyBox Storage in Portage, Mich., from Portage Self Storage LLC to Manhattan Management LLC for $3.7 million. The property at 6741 S. Sprinkle Road sits on 5.5 acres and includes eight buildings. Built in 2003, it comprises 82,694 square feet of storage space in 463 units. Portage acquired the property from receivership in 2013. The buyer plans to add more climate-controlled units as well as truck rental.
• The sale of Minges Creek Storage Plaza in Battle Creek, Mich., from Storage Plaza Co. LLC to BF Self Storage LLC for $2.4 million. The property at 8 Minges Creek Place sits on 3.5 acres and includes seven buildings. Built in 1990, it comprises 58,742 square feet of storage space in 396 units. The facility is near retail stores off Interstate 94.
• The sale of Safety Lock Storage in Flushing, Mich., from Pierson Properties LLC to Norco Dev LLC for $2.7 million. The property at 6025 Pierson Road includes 13 buildings on 13.2 acres. Built in 1990, it comprises 98,718 square feet of storage space in 745 units. The buyer plans to update the office and add climate-controlled units.
• The sale of Bristol Storage in Bristol, Mich., from SJ Properties LLC to Dewlar Storage LLC for $895,000. The property at 4070 E. Bristol Road includes seven buildings on 2.6 acres. Built in 1987, it comprises 34,015 square feet of storage space in 233 units. The buyer plans to update and expand the property.
• The sale Added Room Self Storage in New Haven, Mich., from Samcor Investments LLC to Macomb Storage New Haven LLC for $600,000. The property at 58089 Main Road is on nearly 2 acres and includes four buildings. Built in 2006, it has 19,490 square feet of storage space in 120 units.

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.

Since its inception in 1998, IRE has provided brokerage, construction, development and management services to self-storage owners and investors. Its construction arm was founded in 2000 and has built more than 2 million square feet of self-storage space in eight states.

Marcus & Millichap is a commercial-property investment firm with more than 1,500 investment professionals in offices throughout the United States and Canada. The company closed more than 7,600 transactions in 2014 with a value of approximately $33.1 billion.

Midcoast Properties offers brokerage services to self-storage investors and owners in Georgia, North Carolina and South Carolina.

Based in Redwood City, Calif., Performance Self Storage Group Inc. specializes in the brokerage of self- storage properties. The company has more than $560 million in completed sales.

Based in Farmington Hills, Mich., Pogoda Cos. is a self-storage operator with facilities in Michigan and Ohio. The firm also provides brokerage, consulting, investment and management services to the self-storage industry through Pogoda Group Inc. and Pogoda Management Co.

StorageBlue’s portfolio serves the New Jersey communities of Hoboken, Jersey City, Newark and Union City.

SRM is a privately owned acquisition, construction, development and property-management company specializing in mixed-use, multi-family and senior-housing developments across the western United States.