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.
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
Four Self-Storage Facilities in Chicago Sold to N.Y. Company for $11M
Australian-based Babcock & Brown sold four of its self-storage facilities in metropolitan Chicago to New York-based W. P. Carey & Co. LLC for $11.8 million. MJ Partners Self Storage Group brokered the sale. ...More
Mountain Mini Storage in Maine Sells for $850k
Mountain Mini Storage in Bridgton, Maine, sold in August for $850,000. The 26,000-square-foot property sits on 3.8 acres in the heart of the Lakes Region of Central Maine on the main route that connects Central Maine to Portland, Maine. ...More
Maxi Self-Stor in CA Sells for $925k
Maxi Self-Stor in Bakersfield, Calif., sold for $925,000. The 26,990-square-foot self-storage facility is located at 1831 Golden State Ave. The property was built in 2002 and has 24-hour video surveillance and electronic gates with keypads. The seller was an institutional ...More
Overbuilt Florida Self-Storage Market May See More Distressed Sales
An overbuilt self-storage market in Florida, combined with a downturn in the state’s population growth and the two-year recession, could lead to more bank-owned real estate sales. ...More