Self-Storage Real Estate Acquisitions and Sales: December 2023

A two-property Storage Source One portfolio in Tennessee, sold to Mini Mall Storage, which operates facilities in Canada and the United States. The sites at 663 Forest Drive in Jonesborough and 1240 Moreland Drive in Kingsport are about 13 miles apart. Together, they comprise 50,965 net rentable square feet in 429 units and vehicle-storage spaces, with room for expansion. The seller, an LLC, was represented by Gabriel Coe, Nathan Coe, Brett R. Hatcher and Brian Kelly. They were assisted by fellow broker Jody McKibben.

Safe Storage Club in Machesney Park, Illinois, comprises 24,320 net rentable square feet in 96 drive-up and 40 portable-storage units. The seller was represented by Coe, Coe and Hatcher.

Riverton Self Storage in Riverton, Utah, sold to REIT Public Storage Inc. The 2.4-acre property at 4258 13400 S. contains five buildings comprising 43,300 square feet in 300 units. The buyer and the seller, a private owner, were represented by Jordan Farrer, first vice president of investments, and Adam Schlosser, senior managing director.

Storage King USA in Sherman, Texas, sold to Spartan Investment Group, which operates the FreeUp Storage brand. Built in 2006 on 6.3 acres, the facility at 2111 S. FM 1417 contains nine single-story buildings comprising 55,600 net rentable square in 337 units. The buyer and the seller, a Delaware-based limited-liability company, were represented by Dave Knobler, senior managing director of investments, and Charles "Chico" LeClaire, executive managing director of investments.

StorageMax at 3190 Montana Highway 35 in Kalispell, Montanna, comprises 66,034 square feet in 261 units and 13 vehicle-storage spaces. The seller, a local development company, was represented by Farrer and Schlosser. They were assisted by fellow broker Adam Christofferson.

The three-facility Acme Self-Storage portfolio in Morehead, North Carolina, sold to Freedom Storage Group, which operates 27 facilities in multiple states. Combined, the properties at 204 Jacob Drive, 1217 N. 20th St. and 5458 U.S. Highway 70 comprise 46,375 net rentable square feet in 318 units. The buyer and the seller were represented by investment specialists Kevin Bledsoe, Matthew Junkin and Andreas Makris. They were assisted by fellow broker Ben Yelm.

Apache Self Storage in Gonzales, Texas, sold to a limited-liability company (LLC). The 2.7-acre property at 2502 Harwood Road offers 303 units, including 24 portable-storage containers and 19 vehicle-storage spaces. The buyer and the seller, also an LLC, were represented by investment specialist Jon Danklefs.

Big Blue Self Storage in Frankfurt, New York, sold to Moove In Self Storage, which operates 70 locations in six states. Built in 2009 on 7 acres, the facility at 111 Dyke Road comprises 47,325 square feet across 10 buildings. The seller, an LLC, was represented by Bledsoe, Junkin and Makris, who also procured they buyer. Fellow broker John Horowitz assisted.

A South Pasadena, California, property managed by real estate investment trust (REIT) Extra Space Storage sold to a joint venture between Dallas-based Baranof Holdings and an undisclosed capital partner. Built in 1986 on 1.8 acres, the facility at 919 Mission St. comprises 55,786 rentable square feet in 643 traditional units, six modular spaces and 34 vehicle-storage spots. The seller, Los Angeles-based Gelt Ventures, was represented by investment specialists Charles “Chico” LeClaire, Keith Phillips and Adam Schlosser, who also procured the buyer.

Hidden Island RV & Boat Storage in Fort Collins, Colorado, sold to Ivywild Capital, a Colorado-based private-equity firm that specializes in self-storage investments. The facility at 3955 S. Taft Hill Road comprises 32 interior vehicle-storage spaces and 148 outdoor spots. The seller, a private owner, was represented by investment specialists Thomas Parsons and Schlosser, who also procured the buyer.

Lake Avenue Lock-Up in Wilmette, Illinois, sold to an LLC. The facility at 3632 Lake Ave. comprises 45,250 square feet. The buyer, also an LLC, and the seller were represented by Sean Delaney, senior managing director, and Jeffrey Herrmann, first vice president.

Superior Self Storage in Rockford, Illinois, sold to an LLC. The 10-acre property at 1711 York Ave. offers 31,210 square feet in 204 units. It includes four rental apartments and a single-family residence as well as 3 acres for expansion. The buyer and the seller, an LLC, were represented by Delaney.

The five-property Coleman Storage portfolio in Coleman, Texas, comprises 53,786 rentable square feet in 397 units. The seller was represented by associates Doss Allen and Gray Griffin as well as Austin McLeod, vice president and associate director.

Xtra Space Self Storage at 5924 Cleveland Highway in Clermont, Georgia, comprises 74,492 rentable square feet in 527 units. The seller was represented by McLeod.

Built on 3.8 acres, A-Z Storage at 175 Fowler-Freeman Road in Danielsville, Georgia, comprises 27,900 square feet in 211 units.

Capstone Self Storage in Sumter, South Carolina, sold to an out-of-state buyer. Built on 2.1 acres, the facility at 561 N. Pike E. comprises about 11,950 rentable square feet in 84 units.