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.
Chandler Properties Purchases Self-Storage Facility in Cleveland, Tenn.
Chandler Properties recently purchased a self-storage/commercial warehouse in Cleveland, Tenn. Chandler Storage, 1853 Westland Drive, has 34 self-storage units, but there’s ample room to expand the facility up to 102 units. ...More
Granada Self Storage and Carwash in Austin, Texas, Sold
Granada Self Storage and Carwash in Austin, Texas, sold to A-A-A Storage Stassney LLC. The buyer is planning to reconfigure and add storage units to the property. The purchase was financed by Amplify Credit Union. ...More
9 A-American Self-Storage Facilities Sold for $31M
The final nine self-storage facilities of A-American Self-Storage’s large portfolio sold this month for $31 million. The portfolio, totaling 42 facilities in California, Hawaii and Illinois, was acquired over several months for a total of $163 million. ...More
Extra Space Storage Buys NJ Self-Storage Facility for $18M
Extra Space Storage Inc., a self-storage real estate investment trust, purchased a self-storage facility in North Bergen, N.J., for $18.35 million, or about $196 per square foot. Extra Space Storage had been managing the property for North Bergen Mini Storage LLC at the ...More
Store It! @ Groves Purchases Texas Self-Storage Facility
Store It! @ Groves purchased a self-storage facility in Groves, Texas, from Gulfway Storage LLC. The facility, 6701 Gulfway Drive, includes 67,013 square foot and 575 climate-controlled units. The building was converted to self-storage in 2004. The property was roughly 68 ...More
HFF Completes $122.75M in Self-Storage Sales in September and October
HFF (Holliday Fenoglio Fowler LP) completed sales of 28 self-storage properties totaling approximately $122.75 million in the past 60 days. The properties were closed in eight unrelated transactions and are located throughout the United States. ...More
StorageVault Signs Agreement to Acquire Calgary, Alberta, Self-Storage Facility
StorageVault Canada has entered into an acquisition agreement of purchase and sale for a self-storage facility in Calgary, Alberta. The aggregate purchase price is about $2.96 million. ...More
November 3, 2011
Posted in News
Brokers for the Argus Self Storage Sales Network Close 3 Sales in October
Affiliates of the Argus Self Storage Network, which has 36 broker affiliates in nearly 40 markets, brokered three self-storage sales in October. ...More
Past-Due Rent in Self-Storage and Its Effect on Facility Sales: Who Keeps It? Buyer or Seller?
Consummating a self-storage real estate deal is tough. Besides agreeing on the most salient transaction terms such as price, earnest money and financing, there are less prominent details to sort out, such as the issue of past-due rent. Here are a few approaches to resolving ...More
Memphis Storage VI LP Buys Bartlett Self Storage
Olive Branch, Miss.-based Memphis Storage VI LP recently purchased a self-storage facility, curently branded as Bartlett Self Storage, at 8036 U.S. Route 70 in Memphis. James C. Hise Jr. and Brenda L. Hise sold the facility for $3 million. It was financed by a $2.2 million ...More