Self-Storage Real Estate Acquisitions and Sales: September 2023

Self-storage properties are constantly changing hands, and Inside Self-Storage is regularly notified of these market transactions. Here’s an overview of activity happening in September 2023.

Red Dot Storage, which operates 197 self-storage properties in 19 states, purchased 290 Self Storage in Cypress, Texas, in an off-market deal. The facility at 17433 Lewis Drive comprises 53,050 square feet in 359 units. It’s Red Dot’s second acquisition in the Houston metropolitan market. The company’s owned and managed portfolio comprises about 7.9 million rentable square feet.

A Lafayette, Indiana, self-storage facility managed by real estate investment trust CubeSmart was recently sold. The property comprises 41,690 rentable square feet in 315 units. The seller was represented in the transaction by Rob Schick, an affiliate of Argus Self Storage Advisors, a Denver-based network of real estate brokers who specialize in storage properties.

Store Box Self Storage acquired Outer Space Storage Centre in Farnworth, Bolton, England. Located in the Space Business Centre on Stone Hill Road, the facility comprises 38,000 square feet. Founded in 2009, Store Box operates 12 facilities in the United Kingdom.

Safeguard Self Storage, which operates 86 locations in six states, acquired a newly constructed facility in Queens, New York, at Certificate of Occupancy. The property at 130-02 S. Conduit Ave. comprises 117,000 rentable square feet in 1,223 climate-controlled units. It was developed by Triangle Equities as part of a condominium complex. The transaction was brokered by Joseph Berretta of Metro Net Realty. This is Safeguard’s seventh location in Queens.

The following sales were brokered by the Hatcher Coe Group of Marcus & Millichap (M&M), a commercial real estate investment firm with offices throughout Canada and the United States:

Source: The Business Desk, Seven-Figure Package Enables Storage Company to Expand With Bolton Acquisition