The self-storage real estate market has drastically changed over the past decade. Owners and investors looking to acquire a self-storage facility need to understand the buying process including due diligence, capitalization (cap) rates, self-storage appraisals and methods for determining property value. Self-storage purchasers should keep up-to-date on new real estate acquisitions, project expansions and financial information. They may also find it helpful to work with a real estate broker who specializes in the field of buying and selling self-storage properties.
Storage Pros Management Acquires Four Michigan Self-Storage Facilities
Storage Pros Management LLC has acquired a portfolio of four class-A self-storage facilities, all in Michigan, in the cities of Flint, Grand Rapids, Saline and Wixom. ...More
14-Property Self-Storage Portfolio Sold to Public Storage, Metro Self Storage
A 14-property self-storage portfolio, totaling approximately 8,923 units and 830,000 square feet of rentable space, was recently sold to two separate self-storage companies for an undisclosed sum. ...More
Virtus Real Estate Investing in Self-Storage
Virtus Real Estate, a private equity firm based in Austin, Texas, is raising funds to invest in self-storage properties. ...More
The U-Haul Company of Alabama Buys Self-Storage Facility
The U-Haul Company of Alabama is expanding its network of self-storage locations with the purchase of an existing Alabama storage facility in Fultondale, Ala. ...More
Two Mississippi Self-Storage Facilities Sold to Out-of-State Investors
Two self-storage facilities in Mississippi sold earlier this month. Lock Up Self Storage in Kiln, Miss., sold Sept. 14 to an out-of-state investor for $337,500. B&G Climate Control Warehouse in Biloxi, Miss., sold Sept 9 for $1.3 million. The buyers were also out-of- ...More
U-Store-It Buys Two Storage Deluxe Facilities in N.Y.
U-Store-It acquired two N.Y. self-storage facilities totaling 2,204 units from Storage Deluxe for an undisclosed price. The facilities are located in Bronx and Brooklyn and include 12,160 square feet of warehouse space. ...More
San Diego Self Storage Acquires Facility in Temecula, Calif.
San Diego Self Storage expanded into Temecula, Calif., with the acquisition of Butterfield Ranch Self Storage. The 635-unit storage facility is on nearly 5 acres of land at the corner of Highway 79 and Butterfield Stage Road. ...More
Sure Save USA Self-Storage Sold for $3.4M
Sure Save USA Self-Storage, an 117,155-square-foot self-storage facility in New Orleans, sold for $3.4 million. The facility consists of 736 units, 640 of which are climate-controlled. ...More
Lock and Leave Sold to N.J. Self-Storage Owners
Lock and Leave, a 50,000-square-foot facility in Cherry Hill, N.J., recently sold in a short sale to Hampshire Cos. The facility, located just off the intersection of Route 70 and Interstate 295, was sold as a turnkey property. ...More
Augusta Self Storage in Georgia Sold to Private Investor
Augusta Self Storage in Augusta, Ga., recently sold to a private investor. The self-storage facility has 240 units totaling approximately 27,500 square feet, and an onsite apartment. ...More