Self-storage properties are constantly changing hands, and Inside Self-Storage is regularly notified of these market transactions. Here’s an overview of additional activity happening in April 2019.
Beale/Yuba College Self Storage in Marysville, Calif., was sold. The 1.79-acre property at 1976 N. Beale Road is near Beale Air Force Base and Yuba College. It contains 49 units with expansion potential up to 238. It also offers 10 vehicle-parking spaces. The seller was represented in the transaction by Jim Rueter of Grand Avenue Realty & Lending Inc., an affiliate of the Argus Self Storage Sales Network, a Denver-based network of real estate brokers who specialize in storage properties.
Big Red Barn Self Storage in Belton, Texas, was sold to Iron Guard Storage, which operates 21 facilities in nine states, in an off-market transaction. The facility at 1709 Sparta Road comprises 108,000 square feet in 761 units. The seller was represented in the transaction by Richard Minker, senior vice president, and Chad Snyder, senior associate, with Colliers International, an Argus broker affiliate.
Phoenix-based U-Haul International Inc. has acquired Collin Mini Storage at 1400 N. McDonald St. in McKinney, Texas. U-Haul Moving & Storage of East McKinney comprises a two-story building and three single-story buildings offering 89 storage units and 37 spaces for boat/RV storage. The property will offer truck and trailer sharing, towing equipment, moving supplies and more. Established in 1945, U-Haul operates more than 55 million square feet of storage space.
Discount Storage in Plymouth, Ind., was sold for $3.3 million. The facility at 16220 Lincoln Highway was built in 2016 and comprises 45,400 square feet in 373 units. The buyer and the seller were represented in the transaction by Sean M. Delaney, senior vice president of investments for Marcus & Millichap (M&M), a commercial real estate investment services firm with offices throughout Canada and the United States. He was assisted by fellow broker Josh Caruana.
Exit 17 Self Storage in the Upper Valley of New Hampshire was sold. The facility contains 476 units at two locations. The seller was represented in the transaction by Joseph Mendola, senior advisor for NAI Norwood Group, an Argus broker affiliate.
Henderson Mini Storage in Henderson, Colo., was sold. The property at 11905 E. 124th Ave. sits on 11 acres. It contains 268 traditional storage units and 449 uncovered vehicle-storage spaces. The seller was represented in the transaction by Thomas Parsons, investment associate, and Adam Schlosser, senior vice president of investments, for The LeClaire Group of M&M.
Life Storage L.P., a Buffalo-based self-storage real estate investment trust, acquired Seminole & Heights Self Storage in Tampa, Fla., for $6.93 million. The three-story facility at 1011 E. Dr. Martin Luther King Jr. Blvd. sits on 2.1 acres. Opened last year, it comprises 65,224 square feet in 634 units. It also offers rental office space. The seller was represented in the transaction by Ryan Clark, director of investment sales for SkyView Advisors, a Tampa-based commercial real estate brokerage that specializes self-storage.
Southpoint Self Storage, a 98,163-square-foot facility in Jacksonville, Fla., has been sold by Acorn Property Holdings to a limited liability company. The property at 6611 Southpoint Parkway is about seven miles from downtown. Built in 1987, it comprises 547 climate-controlled units and 81 boat/RV-storage spaces. The property is managed by Extra Space Storage Inc. The buyer and the seller were represented in the transaction by M&M.
Stor-Age Property REIT, which operates self-storage facilities in South Africa and the United Kingdom, has acquired The Storage Pod in Weybridge, England. The property comprises a maximum leasable area of 5,100 square meters in a ground floor and four mezzanines. Additional levels may be added. The property is the 28th U.K. location for Storage King, which Stor-Age acquired in 2017.
Sweetwater Storage in Lithia Springs, Ga., was sold. The facility at 6869 S. Sweetwater Road contains 22,000 square feet of storage as well as 6,000 square feet of retail space. The seller was represented in the transaction by Jane H. Sauls, a real estate advisor for Commercial Realty Services of West Georgia, an Argus affiliate.
Tidy-Up Self Storage in East Prospect, Pa., has been purchased by a private investor. The mixed-use property on W. Maple Street includes self-storage, retail space and two apartments. Though the basement is occupied by a single tenant, it could be converted to additional storage space. There’s also room on the lot for future expansion. The seller was represented in the transaction by George Hatchard, a brokerage advisor for Investment Real Estate LLC, a provider of brokerage, construction, development and management services to self-storage owners and investors since 1998.
Compass Self Storage, a member of the Amsdell family of companies, has acquired a facility in Leesburg, Fla. It comprises more than 50,000 net rentable square feet in climate-controlled and drive-up units. Headquartered in Cleveland, the Amsdell Cos. has been active in several billions of dollars of real estate ventures, with a primary focus on self-storage. It operates 88 locations, including 19 in Florida.
Store Space Self Storage, which operates 17 facilities in six states, recently acquired three properties in Texas, two in Georgia and one in Pennsylvania. Together, the sites comprise 464,000 square feet. The Texas facilities, in Houston, Humble and Sugar Land, encompass 278,000 rentable square feet. The Columbus, Ga., properties at 313 Ford Drive and 6165 Veterans Parkway comprise a total of 138,000 square feet. The company’s fourth Philadelphia location at 2001 W. Erie Ave. comprises 48,000 square feet but will be expanded to 80,000 square feet.
Strategic Storage Trust IV Inc. (SST IV), a public non-traded REIT sponsored by SmartStop Asset Management LLC, has acquired an unidentified self-storage property in Newark, N.J. The facility sits on 6.25 acres and comprises about 158,000 square feet of self-storage and warehouse space in 1,900 units. Based in Maryland, SST IV owns 16 self-storage properties comprising 1.3 million net rentable square feet in 11,000 units.
Business Observer, Life Storage Buys Tampa Self-Storage Center to Augment Portfolio
Commercial Property Executive, Marcus & Millichap Arranges FL Storage Sale
PR Newswire, Strategic Storage Trust IV Acquires Self Storage Facility in Newark, New Jersey
PR Newswire, Store Space Expands its Footprint by Acquiring Six Self-Storage Properties
PR Newswire, U-Haul Now Operating at Former Collin Mini Storage in McKinney
PR Newswire, Compass Self Storage Continues Growth With Acquisition Of Self Storage Center In Central Florida
REbusiness Online, Marcus & Millichap Brokers $3.4M Sale of Self-Storage Facility in Plymouth, Indiana
WHAV, Climate-Controlled Storage Facility Taking Over Haverhill’s Former Building 19 Space