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 Low Cost Self Storage in Baytown, Texas, was sold to The Storage Space, which owns 14 facilities along the Texas Gulf Coast. The facility at 1600 Mabry St. comprises 35,214 square feet of storage space and includes 1.5 acres for expansion. 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).
AAA Self Storage in High Point, N.C., was sold for $1.075 million to an LLC. Built in 1998, the property at 3128 E. Kivett Drive comprises 24,200 square feet of storage space in 184 units. The buyer and the seller, a private investor, were represented in the transaction by Gabriel Coe, senior associate, and Brett R. Hatcher, vice president of investments, for M&M. They were assisted by fellow broker Allen Smith.
Two Air Control Storage facilities in Fort Worth, Texas, were sold. Together, the properties at 3614 McCart Ave. and 2912 W. Pafford St. contain 532 climate-controlled units, with room for expansion. The buyer and the seller were represented in the transaction by Richard D. Minker, senior vice president, and Chad Snyder, senior associate, for Colliers International Self Storage Advisory Services Group. Both are also affiliates of the Argus Self Storage Sales Network.
American Mini Storage in Sierra Vista, Ariz., was sold for $5.45 million to an entity formed by AMERCO Real Estate Co., the real estate arm of U-Haul International Inc. The 6-acre property at 4029 E. Golden Acres Drive contains 846 units and more than 100 vehicle-parking spaces. The buyer was represented in the transaction by Jeff Gorden, vice president, and Kyle Topper, associate, for Eagle Commercial Realty Services, both Argus broker affiliates.
Bay Area Mini Storage in Corpus Christi, Texas, was sold to a private investor. The facility at 2301 Rodd Field Road was constructed in 2003 and expanded from 2006 to 2016. It comprises 95,479 rentable square feet of storage space in 635 units. The buyer and the seller, an LLC, were represented by Jon Danklefs, senior associate, and Michael A. Mele, senior vice president of investments, for M&M.
Baywood Self Storage in Mabank, Texas, was sold to a Southlake, Texas, buyer. The property at 13101 Highway 198 S. Suite comprises 66,518 rentable square feet of storage space and contains two apartments. The Kemp, Texas, seller was represented in the transaction by John Arnold, Bill Belomy and Michael Johnson of Bellomy & Co. The buyer was represented by Anne Williams, first vice president of investments for M&M.
Bethel Self Storage Park in Bethel, N.Y., was sold to private investors for $2.1 million. Opened in 2004, the property at 1998 NY-17B contains more than 200 storage units in 11 buildings, and has room to expand. It also includes outdoor parking spaces, carports, barn-storage units, a rental house, and an apartment above the 400-square-foot rental office. The sellers, Steve and Angela Daley, were represented in the transaction by George Hatchard, a brokerage advisor for Investment Real Estate (IRE) LLC.
A CubeSmart facility in Flushing, N.Y., was sold for $27 million to Whitestone Expressway Realty LLC. The 1.9-acre property at 31-40 Whitestone Expressway comprises 70,368 square feet of storage space, with room to expand. The seller was represented in the transaction by Nicholas J. Malagisi, managing director of SVN Commercial Realty. He was assisted by SVN Managing Director Hans Hardisty.
Citadel Self Storage in Colorado Springs, Colo., was sold for $3.05 million. The property at 3979 Bijou St. comprises 35,000 gross square feet of self-storage space, two 1,768-square-foot duplexes, and 81,000 square feet of land approved for expansion. The seller was represented in the transaction by Argus broker affiliate Joan Lucas of Joan Lucas Real Estate Services.
Concho Mini Storage in Concho, Ariz., was sold for $225,000 to a local buyer. The 2-acre property at 24 CR 5064 Concho Drive contains 117 units. The seller was represented in the transaction by Gorden and Topper.
Eagle Canyon Storage in Phoenix was sold for $17.5 million to a local buyer. The 4.5-acre property at 3050 W. Camelback Road contains 754 units, some of which are climate-controlled. The buyer and the local seller were represented in the transaction by Gorden and Topper.
Encanto & 83rd Self Storage in Phoenix was sold for $3.85 million to a company formed by Wentworth Property Co. LLC. The 2-acre property at 8225 W. Encanto Blvd. contains 375 units. The seller was represented in the transaction by Gorden and Topper.
Handy Storage in Thornton, Colo., was sold for $3.2 million to a local storage operator. The property at 2045 Coronado Parkway comprises 32,464 rentable square feet in 215 units. The seller was represented in the transaction by Lucas.
Hawthorne Self-Storage in Hawthorne, N.Y., was sold for $14.1 million to US Storage Centers Inc. The 1.5-acre property at 130 Brady Ave. comprises 40,452 square feet of storage space, with room for expansion. The seller, Goodfriend Self-Storage, was represented in the transaction by Malagisi, again assisted by Hardisty.
Judson Self Storage in San Antonio was purchased by Store It All Self Storage of Rockville, Md. The property at 14989 Judson Road comprises 129,573 net rentable square feet of storage in 606 units and parking spaces. The buyer was represented in the transaction by Arnold, Belomy and Johnson. The local seller was represented by Harry Botkin, managing partner of HLB Investments LLC.
Keep It Here Storage in Effort, Pa., was sold for $2.6 million to a private investment group. Built in 2002, the 1.6-acre property at 3211 PA-115 comprises five buildings containing nearly 300 units and a 400-square-foot rental office. The seller, Al Natale, was represented in the transaction by Hatchard.
Mini Storage Depot in Wyoming, Mich., was sold to an out-of-state LLC. The property at 4975 Clyde Park Ave. S.W. comprises 63,150 rentable square feet of storage space in 530 units, with room for expansion. The buyer and the seller, an LLC, were represented in the transaction by Coe and Hatcher. Fellow M&M broker Steven Chaben assisted.
Right Move Storage in Houston was sold to a local buyer. The 7.98-acre property at 12310 Perry Road comprises 99,455 net rentable square feet of storage in 742 units and vehicle-parking spaces, with room for expansion. The buyer and the seller, Storage Solutions Perry Road LP of Pasadena, Calif., were represented in the transaction by Arnold, Belomy and Johnson.
Storage Solutions of Frisco in Frisco, Texas, was sold to a corporation. The property at 6707 Eldorado Parkway contains 492 units, some of which are climate-controlled. The buyer and the seller, an LLC, were represented in the transaction by Brandon Karr, senior associate for M&M.
TD Storage of Greenville, S.C., purchased 1.3 acres of land in Austin, Texas, on which it plans to build a self-storage facility. The property is at the corner of Interstate 35 and Teri Road. The buyer and the seller, Liberty Storage Austin South LLC of Orlando, Fla., were represented by Arnold, Belomy and Johnson.
Wasatch Storage Partners acquired a 4.49-acre property in Minneapolis for $1.56 million on which it plans to build self-storage. The Inver Grove Heights City Council recently approved the plans for the 83,000-square-foot facility, which will contain 754 units. The seller, a local partnership, was represented in the transaction by Tom Flannigan of KW Commercial, an Argus broker affiliate.
A private investor purchased 3.7 acres of land in the Oklahoma City suburb of Edmond on which it plans to build a self-storage facility. The seller, B&G Capital LLC, was represented in the transaction by Jared Jones, an Argus broker affiliate.
A three-property portfolio in Western Michigan was sold. It included Felch Street Self Storage at 12285 Felch St. and Lakewood Self Storage at 257 W. Lakewood Blvd., in Holland, Mich., and Georgetown Self Storage at 7062 12th Ave. in Jenison, Mich. Together, the sites comprise 213,793 rentable square feet of storage space in 1,361 units. The seller was represented in the transaction by Mark Floria, an advisor with Pogoda Cos.
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.
With offices in Atlanta as well as Austin and Houston, 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 investors, business owners and developers.
Founded in 1994 and based in Texas, HLB Investments is involved with the brokerage and management of self-storage and multi-family properties.
Since its inception in 1998, IRE has provided brokerage, construction, development and management services to self-storage owners and investors.
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.
Based in Farmington Hills, Mich., Pogoda is a self-storage operator with approximately 2 million square feet of self-storage space 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.
SVN has broker representation in more than 100 markets across the United States. Its team specializes in the marketing, sale and disposition of self-storage properties nationwide.
- Commercial Property Executive: Marcus & Millichap Facilitates Self-Storage Sale
- PR Web: SVN | Commercial Realty Completes Sale of Two Self-Storage Properties in New York Totaling $41.1 Million
- RE Journals: Marcus & Millichap Sells 63,000-Square-Foot Self-Storage Facility in Michigan
- RE Journals: Pogoda Companies Sells Three-Property Self-Storage Portfolio in Western Michigan
- Rebusiness Online: Marcus & Millichap Brokers Sale of 496-Unit Self-Storage Facility in Metro Dallas