Self-Storage Real Estate Acquisitions and Sales: January 2024

The Ridgecrest, California, facility at 909 S. China Lake Blvd., which is managed by self-storage real estate investment trust CubeSmart, comprises 48,450 square feet in 457 units. The building was converted from a Walmart in 2022. The buyer and the seller, an Alabama-based developer, were represented by Adam Schlosser, senior managing director, and Dean Trammell, investment associate of The LeClaire-Schlosser Group of M&M. They were assisted by fellow broker Jim Markel.

The two-property DRD Mini Storage portfolio in Kingfisher, Oklahoma, sold to a Delaware limited liability company (LLC). Together, the facilities at 716 S. Main St. and 1203 S. Main St. comprise 58,760 net rentable square feet. The buyer and the seller, a Nevada LLC, were represented by Dave Knobler, senior managing director of investments, and Charles "Chico" LeClaire, executive managing director of investments for The LeClaire-Schlosser Group. They were assisted by Steve Greer, associate regional manager for M&M.

Empire Self Storage at 6400 E. Traverse Highway in Traverse City, Michigan, comprises 71,350 net rentable square feet in 500 units. The seller was represented by the Hatcher Coe Group of M&M.

The seven property Hill & Homes Self-Storage portfolio in Grand Junction and Palisade, Colorado, sold to DXD Capital, a New Mexico self-storage private-equity firm. Together, they contain seven buildings comprising 135,050 square feet in 922 units. The sale included 2222 Sandford Drive, 2462 Highway 6 and 50, 2693 Highway 50, 1462 Colorado Ave., 2787 Printer's Court and 3170 Pipe Court in Grand Junction, as well as 340 W. 3rd St. in Palisade. The buyer and the seller were represented by Schlosser and Thomas Parsons, first vice president of investments.

The two-property Sunshine Storage portfolio at 58521 Belleview Drive and 22035 Highway 1 in Baton Rouge, Louisianna, comprises 69,970 net rentable square feet in 440 units and 48 vehicle-storage spaces. The sites are about 3 miles apart and have room for expansion. The seller, an out-of-state private investor, was represented by Anne Williams, investment specialist. Greer assisted.

The five-property A&J Storage portfolio in Faribault, Minnesota, sold to a local group of investors. Together, the facilities comprise 152,485 rentable square feet in 929 drive-up units. The buyer and the seller were represented by Tom Flannigan, Nathan Gottlieb, Matt Haugen and Alex Ihrke.

Dempewolf Mini Storage in Ponca City, Oklahoma, sold to a regional buyer. The facility at 2101 N. Union St. comprises 36,355 rentable square feet. The seller was represented by Jared Jones.

Amerco, the parent company of U-Haul International Inc., purchased Storage Near Me in Kathleen, Georgia. The facility at 1362 S. Houston Lake Road comprises 102,625 rentable square feet. Jones represented the seller.

Amberstone Storage at 7855 Illinois 50 in Manteno, Illinois, contains eight buildings comprising 296 units. The 5.6-acre site also features 20 storage-container units and 119 vehicle-storage spaces. The seller was represented by Jesse Luke of EquiCap, along with Marc Bartolini and Chris Wilbur of Entre Commercial Realty.

A two-property portfolio in Wasua and Tomahawk, Wisconsin, was sold to an undisclosed buyer. Bos Creek Storage at 2610 N. 14th Ave. in Wasau comprises 45,960 net rental square feet in 197 units. Lake Tomahawk Storage at 7484 Dolhun Road in Tomahawk offers 44,280 net rentable square feet in 156 units. The seller was represented by Scott Rihm of EquiCap, along with TJ Morice and Jonathan Glassco of NIA Pfefferle.

Hazelhurst Storage at 5701 U.S. Highway 51 in Hazelhurst, Wisconsin, comprises 8,250 net rentable square feet in 30 units. The 13-acre site has room for expansion. The seller was represented by Rihm and Glassco.

StorSafe of Cary at 8405 S. Illinois Route 31 in Cary, Illinois, contains five buildings comprising 25,800 square feet of drive-up storage on 5.6 acres. The seller was represented by Luke and Rihm.

Sunshine Storage at 58521 Belleview Drive in Plaquemine, Louisianna, comprises 69,970 net rentable square feet in 488 units. The seller was represented by Luke, along with Anne Williams-Blackwell of Marcus & Millichap.

Scenic Self Storage in Littlefield, Arizona, sold to a regional storage operator with assets in Arizona and Utah. The property at 3030 S. Scenic Blvd. contains eight single-story buildings comprising 34,770 square feet in 245 units and 109 vehicle-storage spaces. The buyer and the seller, a Utah-based investment group, were represented by Jordan Farrer and Adam Schlosser. Fellow broker Ryan Sarbinoff assisted.

Tango Development acquired the eight-property Storage Bright portfolio in Paradise, Springtown and Weatherford, Texas. Together, the facilities offer 225,275 rentable square feet. They’ll be rebranded as Overflow Garage and managed by Lone Star Realty Group. The buyer and the seller were represented by Danny Cunningham, senior vice president, and Brandon Karr, senior managing director.

Advantage Storage at 1012 E. Navajo Drive in Hobbs, New Mexico, comprises 99,635 net rentable square feet in 469 units. The seller was represented by Gabriel Coe, Nathan Coe and Brett R. Hatcher.

Budget Storage at 2618 N. College Road in Wilmington, North Carolina, comprises 56,750 square feet in 454 units. The seller, a limited-liability company (LLC), was represented by Coe, Coe and Hatcher. Fellow broker Ben Helm assisted.

Cherry Storage at 402 S. 5th St. in Saint Joseph, Missouri, comprises 71,139 square feet in 696 units. The seller, an LLC, was represented by Coe, Coe and Hatcher. Fellow broker David Saverin assisted.

R Self Storage at 1515 Milan Road in Sandusky, Ohio, comprises 33,299 square feet in 155 units and two commercial spaces. The seller, an LLC, was represented by Coe, Coe and Hatcher.

The three-property Huntsville Lock Storage portfolio in Hunstville, Alabama, comprises 174,907 net rentable square feet in 1,291 units. The seller was represented by Austin McLeod, vice president and associate director.

Key Storage at 3719 Winder Highway in Flower Branch, Georgia, comprises 35,000 square feet in 485 units. McLeod represented the seller.

A Tamarac, Florida, facility branded and managed by CubeSmart sold at Certificate of Occupancy. The 1.3-acre property at 8251 W. McNab Road contains a five-story building comprising 94,900 gross square feet. The seller was represented by Josh Koerner and Frost Weaver of Weaver Realty Group.

Ourspace Storage in Wellton, Arizona, sold for $1.05 million. The facility at 29838 Butterfield Plaza comprises 11,150 rentable square feet in 165 units. The seller was represented by Jeff Gorden of The Gorden Cos. and Keller Williams East Valley.

Valley Mini Storage in Phoenix sold for $11.1 million. Built on 1.1 acres at 11000 N. Cave Creek Road, the multi-story building comprises 61,300 rentable square feet in 770 units. The seller was represented by Gorden.

Built on 7 acres, Abby’s Mini Storage at 3311 Truxtun Ave. in Bakersfield, California, comprises 97,600 rentable square feet in 927 units. The facility includes 22 single-story buildings and a manager’s apartment. The seller, Barry Berman Trust, was represented by executive vice presidents Jacob Becher and Tom de Jong.

Built on 7.6 acres, StorCo Self Storage at 3050 Orange Ave. in Long Beach, California, comprises about 80,000 rentable square feet in 772 units and 67 vehicle-storage spaces. The transaction also included two rentable billboards, a 3,100-square-foot commercial building and a 2-acre parcel at 1301 E. Spring St. The seller, CREE Investment Co., was represented by Becher and de Jong.

Bear Creek Boat & RV Storage at 17602 French Road in Houston comprises 103,872 net rentable square feet. Built on 10.7 acres in phases between 1991 and 2012, it contains 11 single-story buildings and 157 vehicle-storage spaces. The buyer and the seller were represented by Dave Knobler, senior managing director of investments, and Charles "Chico" LeClaire, executive managing director of investments for The LeClaire-Schlosser Group of M&M.

Lock & Key Storage in Hillsboro, Texas, sold to a limited-liability company (LLC). Built on 10.24 acres, the facility at 6167 State Highway 171 offers 228 units. The seller was represented by investment specialists Danny Cunningham, Jon Danklefs, Brandon Karr, Dave Knobler and Mixson Staffel, who also procured the buyer.

Built in 2022, Budget Storage at 2618 N. College Road in Wilmington, North Carolina, comprises 56,750 rentable square feet in 454 units, with room for expansion.

Cherry Storage at 402 S. 5th St. in St. Joseph, Missouri, comprises 71,139 net rentable square feet in 696 climate-controlled units.