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Articles from 2018 In July


Construction Worker Falls to His Death Off Roof of Baltimore Self-Storage Building

Article-Construction Worker Falls to His Death Off Roof of Baltimore Self-Storage Building

A 19-year-old construction worker fell to his death last Thursday while working on the roof of a CubeSmart self-storage facility in Baltimore. Cesar Ismael Villalobos Lima tried to use his foot to stop a large cart from rolling off the roof, but the piece of equipment pushed him over the edge, according to police.

The police received the call at 6:55 a.m. Lima worked for Bel Air Foam & Roofing Inc. It’s not clear from the report what work was being performed atop the six-story structure at 211 E. Pleasant St., though Bel Air specializes in urethane foam insulation and roof installations, according to the company website.

“We’re all devastated and still in shock,” Bob McFadden Jr., president of Bel Air, told the source. CubeSmart hasn’t spoken publicly about the accident.

Maryland Occupational Safety and Health is investigating the incident, spokesperson Theresa Blaner told the source. The police ruled the death an accident.

CubeSmart is a self-storage real estate investment trust that owns or manages 987 self-storage facilities across the United States. Its operating portfolio comprises more than 60.5 million square feet.

Source:
The Baltimore Sun, Police Rule Death of Construction Worker Who Fell Off Building in Downtown Baltimore an Accident

Liberty Investment Properties Plans Self-Storage Project for Jacksonville, FL

Article-Liberty Investment Properties Plans Self-Storage Project for Jacksonville, FL

Update 7/31/18 – Jacksonville officials have approved Liberty’s San Marco self-storage project. Jax Mini Storage is expected to have 695 units at 1816 Kings Ave. An earlier report indicated the address was 1820 Kings Ave. The project is estimated to cost $5.83 million, according to the source.

Turner Construction Co. will serve as contractor. The city also approved a permit to renovate an existing building onsite that will be used as office and storage space.


2/9/18 – Liberty Investment Properties Inc., which develops and operates commercial real estate, intends to build a three-story self-storage facility in the San Marco area of Jacksonville, Fla. Jax Mini Storage would comprise 99,000 square feet in 700 units, constructed on 2.36 acres at 1820 Kings Ave., with completion expected in early 2019. The project is under review by the St. Johns River Water Management District, according to the source.

“There is no current new (self-storage) product in that vicinity, and there is a significant amount of growth in residential units, multi-family and single-family homes,” Adam Mikkelson, president of Liberty, told the source. “And with commercial activity in the San Marco district, it’s ripe for demand for our product.”

Hundreds of apartments and townhomes are either proposed or under construction in the area, the source reported.

Liberty is under contract to acquire the land from real estate company Finley & Shell Properties LLC, with closing expected during the second quarter. Finley & Shell will remain a limited partner in the self-storage facility, according to the source. The property will be operated by a third-party management firm.

“We would like to get another two or three locations in the Jacksonville metro area,” Mikkelson said.

Based in Orlando, Fla., Liberty focuses on income-producing assets and related equity and debt investments on behalf of individual and institutional investors. The company was founded by husband and wife Mike and Melissa Mikkelson, who built their first self-storage facility in 1988. It has diversified to offer a range of investment, asset-management and development ventures in the self-storage and hospitality industries. It’s storage portfolio includes 11 facilities in the Southeast, with several new developments planned for 2018.

Source
Daily Record, The Mathis Report: JinkoSolar Seeking $2 Million Build-Out
Daily Record, Jax Mini Storage Plans ’19 Opening

Megacenter Willowbrook to Convert Former Houston Walmart to Self-Storage, Other Uses

Article-Megacenter Willowbrook to Convert Former Houston Walmart to Self-Storage, Other Uses

Real estate developer Megacenter Willowbrook LLC is converting a former Walmart Supercenter in Houston to 49,193 square feet of self-storage plus industrial-flex, retail and office space. The 235,627-square-foot project at 7075 FM 1960, across the street from the Willowbrook Mall, is being built in three phases. It’s expected to be complete by November 2019, according to a press release from HFF (Holliday Fenoglio Fowler LP), the commercial real estate and capital-markets services firm that secured construction financing on behalf of the developer.

Phase one, which broke ground earlier this year, includes a 113,940-square-foot gym, 47,319 square feet of flex space and a 6,810-square-foot auto center. Phase two will include 30,754 square feet of self-storage and 15,101 square feet of office space. The third phase will add another 18,439 square feet of storage and 10,165 square feet of office space.

“The Megacenter partners have proven to be market leaders in the adaptive-reuse space and are poised for great success at Megacenter Willowbrook, with an innovative mixed-use strategy that plays to the strong demographics in the area and creatively reconfigures the existing Walmart structure into a diverse and resilient income stream,” said Michael Johnson, director at HFF.

The project is the developer’s fifth in the United States. Megacenter is an affiliate of Red Megacentro, a Chile-based real estate developer and self-storage operator. The Houston project is similar to a 267,325-square-foot mixed-use development the group launched in 2016 in Miramar, Fla. The partnership involved in that project has been actively pursuing mixed-use projects in Florida.

Red Megacentro has more than 7.5 million square feet of real estate in operation in Chile, Peru and the United States. It has built 40 self-storage facilities between the three countries. The company tends to focus on redevelopment projects rather than new construction.

HFF and its affiliate, HFF Securities LP, are owned by HFF Inc. The firm operates out of 26 offices nationwide and specializes in advisory services, commercial-loan servicing, debt and equity placement, and investment and loan sales.

Cohen Investment Group Acquires 2 Airport Mini Storage Facilities in Garden City, GA

Article-Cohen Investment Group Acquires 2 Airport Mini Storage Facilities in Garden City, GA

Cohen Investment Group, a privately owned commercial real estate investment firm, has purchased two Airport Mini Storage facilities in Garden City, Ga., a suburb of Savannah. The self-storage sites will be rebranded as Storage Depot of Savannah, according to the source.

The properties at 520 Bourne Ave. and 1333 Lynah Ave. are about five miles from one another, near the Savannah/Hilton Head International Airport. Together they contain 472 climate-controlled and drive-up units.

“Cohen Investment Group is very pleased to be adding these two ‘value-add’ self-storage assets to our expanding self-storage portfolio. We believe Savannah is becoming the next emerging coastal city based on its desirable climate, aviation and nearby automotive manufacturing, along with a strong Port of Georgia,” said company president Hugh Cohen.

Based in Norfolk, Va., Cohen Investment acquired its first self-storage property last year in Ocala, Fla. Built in 2005, Storage Depot at 9085 S.W. State Road 200 offers 458 units and 31 vehicle-parking spaces. The company’s portfolio also includes multi-family and student housing, office, and retail.

Source:
Commercial Property Executive, Cohen Investment Expands Georgia Footprint

 

Union Realtime Releases Development Summary for First-Half 2018

Article-Union Realtime Releases Development Summary for First-Half 2018

Union Realtime LLC, a technology-services company that specializes in self-storage development data, has reported the status of projects in the pipeline through the first half of 2018. The summary includes infographics that indicate the top 10 U.S. regions for storage development, new-facility openings and net-rentable-square-feet comparables back to 2016.

According to the company, 296 self-storage facilities in the top 50 markets came online in the first half of the year, marking a 2.3 percent increase from 2017. The pace of development is on track to beat last year’s total growth of 3.9 percent and 517 new facilities.

Charlotte, N.C., showed the most activity among cities, with self-storage stock growing 8.1 percent. Florida topped Texas as the most active state, with Miami, Orlando and Tampa all landing in the top 10 markets for new openings.

“As lease-up times continue to extend across the country, it is very likely that 2017 and 2018 deliveries will continue to impact the market in 2019,” wrote James de Gorter, co-founder.

Union Realtime uses technology solutions to deliver self-storage data and analysis. Among its offerings is Radius, an online tool that tracks market demographics, occupancy and rental rates in addition to new and existing self-storage supply. Its tracking data is updated daily.

Source:
Medium, Self Storage Deliveries on Track for Record Year

Guardian Storage Development Hits Facility-Development 'Speed Bump' in Bridgeville, PA

Article-Guardian Storage Development Hits Facility-Development 'Speed Bump' in Bridgeville, PA

Guardian Storage, which operates 22 self-storage facilities in Colorado and Pennsylvania, has encountered obstacles in its quest to build a multi-story facility in Bridgeville, Pa. During a July 18 public hearing, the South Fayette Township Board of Commissioners informed the operator that the development doesn’t meet several critical requirements for the project, according to the source.

The proposal includes construction of a four-story, 27,000-square-foot facility on the lot of the former Kings Restaurant at 3049 Washington Pike. Patrick Cooper, the project engineer representing the developer, requested five “modifications” from the 20 site requirements.

“We think these 20 conditions were written in a different time of self-storage development,” Cooper said. “Self-storage used to be these one-story, metal buildings with garage doors all around them. The 21st century self-storage is not. It’s now compact, very expensive buildings, and garage doors aren’t around the bottom.”

One of the requirements not met by the proposal was building on a minimum 4-acre site. Guardian plans to build on just 1.3 acres. Other requirements pertained to the building’s height, the ingress and egress, perimeter fencing, and the addition of climate-controlled units.

During his presentation, Cooper noted the benefits the project would bring to the community. “What self-storage does for this site is it brings in more tax revenue than any other type of commercial use,” he said. “So, it would be a great thing for the township for tax revenue, and it generates almost no traffic. Every meeting I’m here, people are talking about the traffic on Washington Pike and this wouldn’t add to that, and the tax revenue would be two to three times higher than what else could go here.”

Township solicitor Robert Garvin informed Cooper that the requested modifications wouldn’t be considered by the board as they’re legally considered variances and need to be approved by the zoning-hearing board. “There’s no provision in our ordinance to grant waivers or modifications,” he said. “Your choice was to come to the township for conditional use, but this is something for the zoning-hearing board.”

Cooper opted to withdraw the development application at this time, but sought assurance from the commission for future support. He said he didn’t want to approach the zoning board for approval just to be rejected by the commission later. “If we’re going to be shot down, I’d like to know the answer tonight,” Cooper said.

The board didn’t provide a response, the source reported.

Established in Pittsburgh in 1987, Guardian Storage operates 17 facilities in Pennsylvania and five in Colorado.

Source:
The Almanac, Proposed South Fayette Storage Facility Hits Speed Bump

Diamond Point Development to Break Ground on New Self-Storage in Marietta, GA

Article-Diamond Point Development to Break Ground on New Self-Storage in Marietta, GA

Diamond Point Development LLC (DPD) will break ground next month on a new self-storage facility in Marietta, Ga. Expected to open in about a year, the multi-story structure at 1745 Roswell Road will comprise 102,000 square feet of storage space in 750 climate-controlled units, according to a press release.

The general contractor on the project is Atlanta-based MTC Corp. Financing was provided by State Bank & Trust Co.

“We have commissioned a third-party feasibility study to confirm that the immediate area is underserved for climate-controlled self-storage,” said DPD Principal Jason Sommer. “There are more than 20 class-A apartment complexes within a mile of the property, as well as local businesses that could all benefit from this addition to the community.”

Furthermore, the conditions in the Roswell Road submarket are improving for businesses, Sommer said. “For years, the section of Roswell Road within the 120 Loop has been a challenging area to maintain business, simply because the 120 Loop bypassed this section of Rowell Road. Presently, the Georgia Department of Transportation is planning to open 29.7 miles of Georgia Express Lanes in the northwest quarter.”

The new roads will link Roswell Road to Interstates 75, 285 and 575. “The express lanes will re-route East Cobb commuter traffic along Roswell Road, which will help revitalize the retail along the corridor,” said Reggie Copeland, councilmember for the city’s fifth ward. “The addition of the express lanes will make the Roswell Road commercial district a better place to do business.”

The DPD management team plans to engage with business owners and community residents following the facility opening. “We look forward to sponsoring quarterly events to give back to the community, including a Toys for Tots holiday party and a Beat Breast Cancer Fall Festival,” Sommer said.

DPD is led by Aaron and Jason Sommer, who are experienced in all facets of commercial real estate, including ground-up self-storage development and asset management, according to the release. The men previously developed Neighborhood Self Storage in Riverdale, Ga.

Self-Storage Renovation Case Study: Arizona's Camp Verde 24 Hour Storage

Article-Self-Storage Renovation Case Study: Arizona's Camp Verde 24 Hour Storage

Several years ago, Hartley Turley stumbled into the self-storage business almost by accident when he purchased an old motel and service station in Snowflake, Ariz. Looking to build an office for his glass business, he converted the unused square footage into storage, hoping to make $1,000 per month from the idle space. In no time, he was earning that and more.

Turley ultimately converted the entire building to storage, making it fully unattended via Web tools and software. The project was a success, and he was hooked.

In July 2017, he purchased an existing self-storage facility in Camp Verde, Ariz., a dusty desert town just south of Sedona. The site offered approximately 18,000 square feet of rentable space, but as Turley soon discovered, the business needed a lot of work. “The place was a mess,” he says. “It was mismanaged. You couldn’t find it on the Internet, and occupancy was abysmal.”

Remix for Revenue

With 66 percent of the units vacant upon purchase, Turley had a long road to travel before Camp Verde 24 Hour Storage would provide a ticket to an early retirement. But with low occupancy comes big opportunity. Having the ability, wherewithal and patience—and just a dash of appetite for risk—Turley moved full-steam ahead. In less than a year, he transformed the metal money pit into a hassle-free, automated oasis at 100 percent occupancy.

But once the property was full, Turley needed new ways to maximize revenue. That’s when he decided to tackle a unit remix on the facility’s second floor. The original space was only accessible via stairs, and there was no “mix” at all. The floor comprised 58 units, all 5-by-10s. At the time of purchase, only 12 were occupied. They rented for just $23 per month. Turley was determined to optimize the space and charge more for it.

“I attended a number of self-storage expos and events, and decided that I had a good mix of unit sizes in the rest of the facility, and I needed to do the same with the second floor,” he says.

The transformation yielded 33 units in three sizes: 10-by-10, 10-by-15 and 10-by-20. An elevator was added for easy, hassle-free access. The spaces now rent for $77 to $132 per month, a huge improvement over the previous rental rate.

Automation Becomes Key

The facility’s previous owner was in the office every day until 4 p.m., and allowed gate access from 7 a.m. to 7 p.m. Turley had other plans than being tied to the property all day.

Automation was the key. The facility now offers storage rentals through its website, a self-service kiosk and a call center. Customers also have 24-hour access and can pay their bill online. Customers like the convenience of accessing their units outside of traditional office hours, and Turley views the unattended site as a win-win for himself and his tenants. “I love being at Disneyland while I’m making money renting units in Arizona,” he jokes.

Now that Camp Verde has been renovated, Turley has set his sights on another property in New Mexico. The project will include a reskin of the hallways, a replacement of outdated unit doors and, ultimately, a retrofit with modern technology. “I love the storage industry and plan to purchase as many facilities as I can,” he says.

Roc Hughes is vice president of business development for the R3 (Restore, Rebuild, Replace) Division of Janus International Group LLC, a global manufacturer of turnkey self-storage building and security solutions, including roll-up and swing doors, hallway systems, portable-storage solutions, door-replacement programs, and the SecurGuard mobile-entry system. To reach him, e-mail [email protected]; visit www.janusintl.com/iss-r3

3 Things Your Adjuster Wants You to Know About Filing a Self-Storage Insurance Claim

Article-3 Things Your Adjuster Wants You to Know About Filing a Self-Storage Insurance Claim

Your risk-management efforts can go a long way toward mitigating incidents of property damage or bodily injury at your self-storage facility, but eventually something is bound to happen that will require you to file an insurance claim. Your carrier's skilled professionals are standing by to assist; but you have a role to play, too. Here are three things your adjusters want you to know about the claims process.

Document the Scene

When a tenant or visitor complains of an injury, the priority is to deal with any medical emergencies. Once those have been addressed, it’s important to document the occurrence in detail.

Start by completing a detailed incident report that includes the person’s name, address and phone number, as well as the names of any witnesses, an in-depth description of the circumstances, and as much identifying information about the injured person as possible. Take photos to preserve a record of the scene as it was at the time of the accident. If the injured party agrees to being photographed, take those photos as well.

All injuries must be documented with an incident report, witness statements and photographs. Failing to complete a report because an injury appears minor could be a costly mistake if the injured party were to file an insurance claim or lawsuit.

As soon as you’ve completed the report, fax or e-mail a copy to your insurance agent or carrier. This gives him the option of conducting a preliminary investigation.

In the case of property-only damage, your first task is still to document the incident. Photograph the scene to record the extent and severity of the loss. Take detailed notes of your observations, conversations with witnesses and phone conversations, and get contact information for everyone with whom you speak about the matter. If you need to make emergency, temporary repairs to prevent further damage or address safety concerns, keep a detailed record of your expenses and save your receipts.

Security cameras are an important tool in a claims investigation. Review any video footage of the event as soon as possible. Many security systems record over old video periodically, so it’s critical to capture any relevant footage before it’s lost. Save a copy, and forward it to your claims adjuster.

Notify Your Agent or Carrier

One of the single most detrimental actions a self-storage owner can take regarding a claim is to wait too long to inform his insurance agent or carrier. Notify this person as soon as possible after any event that could result in a claim or lawsuit.

The three most time-sensitive events are bodily injuries, property losses and lawsuits. Delaying notification to your insurance agent or carrier can have a negative effect on the adjuster's ability to investigate. In some cases, a delay can make it impossible to gather the necessary information. For example, if weather or environmental conditions may have played a factor, such as in a bodily injury from a fall on icy steps, delaying notification could nullify the adjuster's ability to document property conditions at the time of injury.

If you’re served with a lawsuit, it’s critical to notify your insurance carrier immediately. By the time the papers land in your hands, the clock is already ticking. In most jurisdictions, you have 20 or 30 days to respond to a summons and complaint. Your carrier needs to have the maximum time available to provide the proper support.

In fact, failure to notify your carrier in time to meet the response deadline may be a violation of your insurance contract, which may void the carrier’s responsibility to provide coverage. If you’re served, immediately fax or e‑mail a copy of the summons and complaint to your claims department and agent. On the fax cover sheet or in the e-mail message, note the date and time of service and the name of the person served.

Leave Claims-Handling to the Professionals

It’s never wise to take a do-it-yourself approach an insurance claim. No matter how small or seemingly insignificant an incident may appear, it’s vital to let your carrier handle it. The premium you pay includes the services of the carrier's claims department and its experienced adjusters. They represent your interests and will work with you to resolve the claim quickly and achieve the best possible outcome for your business.

Once you’ve notified your agent or carrier, stay in close communication throughout the process and follow any instructions he provides. In the meantime, there are a few things to avoid doing:

Don’t give out information. It’s best to avoid discussing the claim with tenants, visitors, witnesses, or another party’s lawyer or insurance company. Let your adjuster do the talking. Don’t give out information about the incident, investigation or potential settlements. If you’re contacted by someone seeking this type of info, advise him to contact your claims adjuster directly.

Don’t admit liability. It's important to avoid saying anything that could be construed as admitting liability for property damage or bodily injury. For example, if a tenant’s belongings are damaged from rain coming through a leaking roof, don’t say something like, “Well, we should’ve had the roof inspected” or “Don't worry, we have insurance.”

Don’t make volunteer payments. Volunteer payments are when you offer to make a deal with the tenant to cover the damage yourself. Making this type of payment without consulting your insurance agent or carrier could nullify your coverage. If that happens, you may be responsible for paying for any resulting claims, legal fees or court-ordered damages, which could be quite costly and jeopardize your business.

When bodily injury or property damage happens at your facility, it can be frustrating and upsetting for everyone involved. Remember that your insurance carrier's claims department is staffed with experienced professionals who’ll look out for your best interests and guide you through the process quickly and efficiently. Working with your adjuster to begin the investigation as soon as possible and following his instructions during the process can help resolve the claim quickly and with the most positive outcome for your self-storage operation.

Don Sedlacek is vice president of claims for Phoenix-based MiniCo Insurance Agency, a provider of specialty insurance programs for self-storage businesses in Canada and the United States. For more information, call 800.528.1056; visit www.minico.com

Real Estate Roundup: Self-Storage Transactions July 2018

Article-Real Estate Roundup: Self-Storage Transactions July 2018

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.

Alief Westwood Storage in Houston was sold to an Austin, Texas-based buyer. The 5.3-acre property at 9219 Boone Road comprises 64,000 rentable square feet in 246 units and boat/RV-parking spaces. The buyer and the seller, a family partnership, were represented in the transaction by Bill Bellomy and Michael Johnson, brokers with Bellomy & Co.

All-Preferred Mini-Storage in Redding, Calif., was sold for $4.5 million to a local investor. The 3.91-acre property at 5632 Westside Road contains 13 single-story buildings comprising 78,095 rentable square feet of storage space in 530 units. It also includes a manager’s office and residence. The buyer and the seller, The Raudman Family, were represented in the transaction by Bobby Loeffler, president, and Tyler Skelly, national director, of the Loeffler Self-Storage Group (LSSG).

Bear Storage in Orange, Texas, was sold to a partnership with six storage sites in Houston. The property at 7808 Highway 87 comprises 35,830 rentable square feet of storage space in 321 units. The buyer and the seller, a limited liability company (LLC), were represented in the transaction by Dave Knobler, first vice president of investments, for Marcus & Millichap (M&M).

The three-property Decatur Storage portfolio in Decatur, Ill., was sold to an out-of-state LLC. The sites are within six miles of each other and comprise 259,965 square feet of storage space. The buyer and the seller, a local owner, were represented in the transaction by Gabriel Coe, Brett R. Hatcher and Brian Kelly, investment specialists with M&M.

A Philadelphia facility operating under the Devon Self Storage brand was sold. The property comprises 71,614 square feet of space in 759 units, two flex spaces and one vehicle-parking spot. The seller, an LLC, was represented in the transaction by Charles “Chico” LeClaire, executive managing director of investments, and Adam Schlosser, first vice president investments for M&M.

Extra Space Storage in San Antonio was sold. The 3.37-acre property at 12211 I-35 comprises 88,875 rentable square feet in 784 units. The seller was represented in the transaction by Ryan Clark, director of investment sales for SkyView Advisors.

Gleannloch Storage in Spring, Texas, was sold to an out-of-state operator. The property at 9337 Spring Cypress Road comprises 202,500 rentable square feet in 601 units. It also contains boat/RV storage and office-warehouse units. The seller, Gleannloch Storage LLC, was represented in the transaction by Bellomy and Johnson.

Mount Shasta Mini Storage in Mount Shasta, Calif., was sold for $1.59 million to MC Ventures & Associates Inc. of Tracy, Calif. The 3.06-acre property at 5815 Truck Village Drive contains 12 single-story buildings comprising 40,700 rentable square feet in 287 units. The property also includes a manager’s office and residence. The seller, DC Investors LLC of California, was represented in the transaction by Loeffler and Skelly.

Rochester Mini Storage in Rochester Hills, Mich., was sold to an out-of-state buyer. The facility at 1790 S. Livernois comprises 94,115 square feet of storage space. The buyer and the seller, a local owner, were represented in the transaction by Coe, Hatcher and Kelly. M&M Regional Manager Steven R. Chaben assisted.

Rodeo City Self Storage in Ellensburg, Wash., was sold for $1.7 million to a local operator. Built in 2004, the 1.24-acre facility at 1304 W. University Way comprises 18,108 square feet of storage space in 189 units. The buyer and the seller, a local self-storage operator and developer, were represented in the transaction by Christopher R. Secreto and Timothy Wardell, investment specialists with M&M.

SecureHold Storage, a two-property portfolio in Auburn and Fort Wayne, Ind., was sold to a multi-state self-storage owner. The properties at 2909 Lower Huntington Road and 470 North St. comprise 55,800 rentable square feet in 503 units. The buyer and the seller, a private owner/operator, were represented in the transaction by Jesse Luke, managing partner of EquiCap Commercial Self Storage Advisory Group.

Security Mini Storage in Gainesville, Fla., was sold. The 4.75-acre property at 4101 S.W. 13th St. comprises 44,471 rentable square feet in 434 units. The seller was represented in the transaction by Clark.

State Self Storage in Toledo, Ohio, was sold to a group of out-of-state private owners. The property at 6115 Telegraph Road was recently converted from a lumberyard to self-storage. It comprises 39,566 rentable square feet in 392 units, which includes 69 vehicle-parking units. The buyers were represented in the transaction by Luke. The seller, State Self Storage LLC, was represented by Mark Floria, an investment broker with Pogoda Cos.

The two-property Stor’ It Los Gatos portfolio in Los Gatos, Calif., was sold to a private family for $25 million. Constructed in 1999 and 2005, the properties at 688 University Ave. and 17443 Farley Road W. comprise 45,287 square feet of storage space in 785 units. The buyer and the seller, an individual, were represented in the transaction by Jacob Beecher and Adam Levin of M&M.

Sure-Safe Storage in Denver, N.C., was sold. The 4.73-acre property at 1675 N. NC 16 Business Highway comprises 79,105 rentable square feet in 459 units. The seller was represented in the transaction by Clark.

Texas Bear Creek Storage in New Braunfels, Texas, was sold to an Austin, Texas-based buyer. The property at 1936 FM 2722 contains 210 units and 55 RV/boat-parking spaces. The sale includes acreage for expansion. The seller, a private investor, was represented in the transaction by Harry Botkin, managing partner, with HLB Investments LLC. The buyer was represented by Bellomy and Johnson.

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 in the mid-west and mid-south markets.

Founded in 1994, HLB Investments is real estate and management firm that represents self-storage and multi-family properties.

LSSG 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.

Sources:
REBusiness Online: Levin Johnston Arranges $25M Sale of Two Self-Storage Facilities in Silicon Valley
REBusiness Online: SkyView Brokers Sale of 784-Unit Self-Storage Facility in San Antonio
REBusiness Online, Levin Johnston Arranges $25M Sale of Two Self-Storage Facilities in Silicon Valley