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Self-Storage Real Estate Acquisitions and Sales: January 2022

Update 1/13/22 – 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 January 2022.

The four-property A-Z Self Storage portfolio in La Porte and Plymouth, Indiana, sold to a Pennsylvania-based limited-liability company (LLC). In addition to self-storage, the sites include retail and industrial space. The seller, an Indiana-based individual/personal trust, was represented in the transaction by Roy Roelke, a broker for real estate firm NAI Cressy, and Sean Delaney, senior vice president for Marcus & Millichap (M&M), a commercial real estate investment services firm with offices throughout Canada and the United States. Fellow M&M Broker Josh Caruana assisted.

AAA Safe-N-Sound Storage in Spanish Fork, Utah, sold. The facility at 1971 N. Chappel Drive comprises 46,550 rentable square feet in 314 units. The seller was represented by Mike Brandon, senior associate, and Ryan Clark, director of investment sales, for Skyview Advisors, a Tampa, Fla.-based commercial real estate brokerage firm that specializes in self-storage.

All Purpose Storage in Church Hill, Tennessee, sold to an out-of-state buyer. The 4.8-acre property at 705 W. Main Blvd. offers 44 drive-up units and outdoor vehicle storage. The seller was represented in the transaction by Michael Morrison, a broker with Midcoast Properties Inc., a commercial real estate brokerage focused on self-storage in Alabama, the Carolinas and Georgia.

All Safe Mini Storage in Salinas, California, sold. Built in 1996 on 3 acres, the facility at 2293 N. Main St. comprises 39,725 net rentable square feet in 336 units and 19 vehicle-storage spaces. The seller was represented in the transaction by The Hatcher Group of M&M.

Absolute Storage Investment (ASI) acquired All Secure Storage in Conway, Arkansas. The facility at 1050 John Mason Drive comprises 62,030 rentable square feet in 458 units. It’ll be rebranded as Absolute Storage of Conway and managed by Absolute Storage Management, a division of ASI that operates more than 140 facilities.

All Town Storage in Granby, Massachusetts, sold. Built in 2004 and expanded in 2005 and 2017, the facility at 138 W. State St. comprises 34,250 rentable square feet in 242 units. It was 95% occupied at the time of sale. The property even has room for further expansion. The seller was represented in the transaction by The Hatcher Group of M&M.

American Storage South at Bermuda Run in Advance, North Carolina, sold to US Storage Centers, which operates 27 locations in the Southeast. The facility at 146 Commerce Drive offers climate-controlled and drive-up storage. The buyer was represented in the transaction by Morrison.

Amwell Valley Self Storage in Ringoes, New Jersey, sold to a New York City-based investment firm. The property at 470 NJ-31 comprises four buildings containing 27,400 square feet in 265 units. The buyer and the seller, an independent owner, were represented in the transaction by Linda Cinelli and Edan Cohen of The LC Realty Team, an affiliate of the Argus Self Storage Advisors, a Denver-based network of real estate brokers who specialize in storage properties.

Ballard Mini Storage in the Ballard neighborhood of Seattle sold to 4722 Ballard Avenue NW LLC for $7 million. The facility at 4714 Ballard Ave. N.W. comprises 21,155 rentable square feet in 368 units. It also has 199 mailboxes for rent. It’ll be renamed SecureSpace Self Storage, which is the operating brand of development and real estate firm InSite Property Group. The seller, SP Storage LLC, was represented in the transaction by The Hatcher Group of M&M. Based in Torrance, California, InSite is a vertically integrated self-storage developer, manager and operator. It owns 16 facilities in nine states.

An eight-property Boardwalk Storage portfolio in Georgia and Tennessee sold for $45 million to Spartan Investment Group LLC, a self-storage development, property-management and real estate firm that operates the FreeUp Storage brand. The deal includes two facilities in Dahlonega, Georgia, four in Macon, Georgia, and two in Chattanooga, Tennessee. The portfolio comprises 370,863 rentable square feet in 2,818 units. The sellers, Boardwalk Development Group and Storagemaster Inc., were represented in the transaction by Ashley Compton, national director of Colliers Self Storage Group, which offers self-storage brokerage and advisory services. Based in Golden, Colorado, Spartan syndicates investor capital to develop real estate. The company owns more than 50 self-storage facilities across nine states.

Broad Street Self Storage in Bristol, Connecticut, sold. The facility at 531 Broad St. comprises 16,300 rentable square feet in 155 units and eight vehicle-storage spaces. It was 95% occupied at the time of sale. The seller was represented in the transaction by The Hatcher Group of M&M.

Budget Self Storage in Bridgeport, Connecticut, sold. The facility at 225 Boston Ave. comprises 36,697 rentable square feet in 383 units, with room for expansion. The seller was represented in the transaction by The Hatcher Group.

A Charleston, South Carolina, facility managed by self-storage real estate investment trust (REIT) CubeSmart sold. Built in 2020, the facility at 1861 Ashley River Road comprises 70,774 square feet in 677 units. The seller was represented in the transaction by The Hatcher Group.

Self-storage facility Davis Rentals sold in Green Cove Springs, Florida. The property at 3230 U.S. Highway 17 comprises 85,705 rentable square feet in 485 units. The seller was represented in the transaction by Gabriel Coe, Nathan Coe, Brett R. Hatcher and Meir D. Perlmuter, investment specialists for M&M, who also secured the buyer.

An Englewood, Colorado, self-storage facility managed by self-storage REIT Extra Space Storage Inc. sold. The building comprises 84,235 square feet in 917 units. The seller, an LLC, was represented in the transaction by Charles “Chico” LeClaire, executive managing director of investments, and Adam Schlosser, senior vice president of investments for M&M.

A two-property portfolio in Broomfield and Loveland, Colorado, sold. Both managed by Extra Space, the facilities at 12725 Lowell Blvd. in Broomfield and 120 W. 43 St. in Loveland offer a total of 158,458 net rentable square feet in 1,217 units. The seller, a Maryland-based LLC, was represented in the transaction by LeClaire and Schlosser.

The two-property EZ Self Storage and Stor Mor Self Storage portfolio in Greeley, Colorado, sold to a local investor. Together, the facilities at 2025 1st Ave. and 2300 4th Ave. offer 38,960 net rentable square feet in 393 units. The seller, an out-of-state investor, was represented in the transaction by Thomas Parsons, senior associate of investments for M&M.

Fruita Secure Storage in Fruita, Colorado, sold to A Storage Place, a privately held company with 36 locations in the West. The facility at 1882 U.S. Highway 6 and 50 comprises 27,550 square feet in 201 units. The seller, a local investor, was represented in the transaction by Parsons.

Goffstown Back Road Self Storage in Goffstown, New Hampshire, sold. Built in 2018 and expanded last year, the facility at 376 Goffstown Back Road comprises 65,700 rentable square feet in 464 units. The seller was represented in the transaction by The Hatcher Group.

Inver Grove Storage in Inver Grove Heights, Minnesota, sold for $1.8 million. The facility at 10125 Courthouse Blvd. comprises 36,630 rentable square feet of outdoor storage and 10,240 rentable square feet of shipping containers. The seller was represented in the transaction by Tom Flannigan, Matt Haugen and Alex Ihrke of KW Commercial Minneapolis, an Argus affiliate.

Johnston Corners in Charlotte, North Carolina, sold for $21 million to a global investment company. The five-story building at 10609 Johnston Road comprises 117,405 square feet. The seller was Headwaters Strategic Operator Platform, a joint venture consisting of real estate investment companies Abacus Capital, Big Cypress Capital and WDM Family Enterprises. The seller was represented in the transaction by Luke Elliott, executive managing director of the Self-Storage Advisory Group for Cushman & Wakefield, a provider of real estate services including consulting and appraisal, debt and equity financing, and sales and acquisitions.

The five-property McWhorter Mini Storage portfolio in Alabama sold. Together, the facilities occupy 14.2 acres and comprise 78,150 net rentable square feet in 567 units. The seller was represented in the transaction by The Hatcher Group.

Modern Mini Storage & Car Wash in Hartford, Michigan, sold. Built on 1.25 acres, the facility at 60401 County Road 687 comprises 26,925 rentable square feet in 200 units. The property also includes a car wash. The storage facility was 100% occupied at the time of sale. The seller was represented in the transaction by The Hatcher Group.

Pike County Storage in Milford, Pennsylvania, sold to Columbia Self Storage, which operates 21 facilities in New Jersey, New York and Pennsylvania. The facility at 105 Fisher Lane comprises 25,250 square feet in 179 units. The buyer and the seller were represented in the transaction by Coe, Coe and Hatcher for M&M. Fellow M&M broker Sean Beuche assisted.

Spacebox Storage in Fort Myers, Florida, sold. Built in 2019 at 2670 Colonial Blvd., the facility comprises 112,172 net rentable square feet in 595 units and 119 vehicle-storage spaces. The seller was represented in the transaction by The Hatcher Group.

Store Here Self Storage in Chesapeake, Virginia, sold. Opened in 2018, the facility at 4601 Station House Road has been rebranded as Extra Space Storage. It comprises 55,843 net rentable square feet in 450 climate-controlled units. It also offers nine office suites and 23 vehicle-storage spaces. The seller was represented in the transaction by The Hatcher Group.

Store-U-Self Storage in Portland, Connecticut, sold to SROA Capital, which operates 250 Storage Rentals of America locations nationwide. The facility at 127 Main St. comprises 68,774 net rentable square feet in 650 units. The seller was represented in the transaction by The Hatcher Group.

Ukiah Self Storage in Ukiah, California, sold in a 1031 exchange. Built in 1992, the facility at 2301/2381 S. State St. comprises 70,423 rentable square feet in 627 units. It was upgraded in 2004 and 2008 and has room for expansion. The seller, the Rutner Family, was represented in the transaction by Denise Nuñez, managing director, and Victoria Filice, associate, for NAI Horizon, a member of NAI Global, a managed network of independently owned commercial real estate brokerage firms. The Nunez Self-Storage Group of NAI worked in conjunction with Reiser Group, a West Coast brokerage firm.

Andover Properties LLC, which operates the Storage King USA brand, acquired Ultimate Boat and RV Storage in Litchfield Park, Arizona. Built on 16 acres, the facility at 6030 N. Litchfield Road comprises 314,000 square feet and offers power hook-ups, 50-foot turn aisles, and detailing and wash bays. The property is Andover’s fifth in the Phoenix market and 10th in Arizona. Established in 2003, New-York based Andover owns and manages 122 storage properties in 16 states, comprising 9.2 million rentable square feet.

United Stor All in Denver sold to California-based A-American Self Storage, which operates 24 locations in California, Colorado, Hawaii and Nevada. The eight-story facility at 2100 E. Colfax Ave. comprises 42,132 square feet. The seller, Mini Storage Cos., was represented in the transaction by LeClaire and Schlosser.

United Township Self Storage in East Moline, Illinois, sold to a regional buyer. The facility at 19200 IL-5 comprises 29,950 square feet in 216 units. The buyer and the seller were represented in the transaction by Flannigan, Haugen and Ihrke of KW Commercial Minneapolis.

Vanwall Mini-Storage in Houston sold. The 185-unit facility at 13911 Van Wall St. is in a high-visibility area, a quarter-mile from a Home Depot store and about a mile from a large distribution center operated by grocer H-E-B. The seller was represented in the transaction by Dave Knobler, senior vice president of investments, for M&M.

The six-property Your Extra Attic self-storage portfolio in the Atlanta metropolitan market sold for $67 million to Reliant Real Estate Management, an affiliate of Midgard Self Storage. Built between 1983 and 2020, the facilities comprise 3,070 units. Two of them are in Cumming, Georgia; the rest are in Acworth, Milton, Smyrna and Sugar Hill. Their average size is 72,650 rentable square feet. The sites will be rebranded under the Midgard name. The seller was represented in the transaction by Stacey Gorman, senior vice president of investments for M&M, who also procured the buyer.

4H Properties of NEA LLC, which operates the Storage in a Snapp self-storage brand, acquired a six-property portfolio in Walnut Ridge, Arkansas. The properties comprise 641 units, with the most recent facility opening in October. The sellers, local owners, were represented in the transaction by Larry Goldman of Goldman Investment Advisors, an Argus affiliate.


1/10/22 – 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 January 2022.

SecurCare Self Storage Inc., an affiliate of National Storage Affiliates Trust, purchased the two-property A Storage Place portfolio in Wilmington, North Carolina. Together, the facilities at 901 Shipyard Blvd. and 5319 Oleander Drive comprise 154,576 net rentable square feet in 1,308 units. The seller was represented in the transaction by The Hatcher Group of Marcus & Millichap (M&M), a commercial real estate investment services firm with offices throughout Canada and the United States. SecurCare operates more than 200 facilities nationwide.

A+ Storage in Nashville, Tennessee, sold for $26.5 million to Crescenta Valley Mini Storage LP. Built on 5 acres, the three-story facility at 505 Old Hickory Blvd. comprises 103,610 rentable square feet in 780 units. The seller, A+ Storage Old Hickory Bellevue LP, was represented in the transaction by Ashley Compton, national director of Colliers Self Storage Group, which offers self-storage brokerage and advisory services.

A-1 Greencastle Self Storage in Greencastle, Pennsylvania, sold. The facility at 500 Buchanan Trail W. comprises 71,426 rentable square feet in 375 units, three commercial spaces and 17 vehicle-storage spots. There’s also a billboard on the property. The seller was represented in the transaction by Gabriel Coe, Nathan Coe, Luke Dawley and Brett R. Hatcher, investment specialists for M&M.

Apple Self Storage, which operates 40 facilities in Canada, acquired Barrie Southend Public Storage in Barrie, Ontario. The facility at 121 Big Bay Point Road is just off Ontario Highway 400. Founded in 1975, family-owned Apple operates properties in New Brunswick, Nova Scotia and Ontario.

A Broomfield, Colorado, facility managed by self-storage real estate investment trust (REIT) CubeSmart sold to an Arizona-based private-equity fund. The building at 2050 W. Sixth Ave. comprises 40,050 square feet in 359 units. The local seller was represented in the transaction by Charles "Chico" LeClaire, executive managing director of investments, and Adam Schlosser, senior vice president of investments for M&M.

Oak View Capital Partners sold its portfolio of eight facilities in Kansas, Missouri and Texas. Comprising 619,763 net rentable square feet in 6,029 units, the facilities were managed by REITs CubeSmart and Public Storage. The sale included CubeSmart sites at 401 W. Rendon Crowley Road in Fort Worth and 2216 W. Park Row Drive in Pantego, Texas; 11925 Santa Fe Trail Drive in Lenexa, Kansas; and 14400 E. U.S. Highway 40 in Kansas City, Missouri. The Public Storage locations are at 207 Avery St. in Dallas; 625 Stella St. in Fort Worth and 6651 Longhorn Drive in Irving, Texas; and 1400 N.E. Douglas St. in Lee’s Summit, Missouri. The seller was represented by Skyview Advisors, a Tampa, Fla.-based commercial real estate brokerage firm that specializes in self-storage. 

Dunn Avenue Storage in Jacksonville, Florida, sold. The four-story facility at 2188 Dunn Ave. comprises 71,660 rentable square feet in 635 units. It was 99% occupied at the time of sale. The seller was represented in the transaction by The Hatcher Group of M&M.

Moove In Self Storage, which operates 44 locations in six states, acquired The Hamptons Self Storage in Northampton, Massachusetts. The newly constructed facility at 547 Easthampton Road comprises about 75,450 square feet in more than 650 units. Moove In also purchased 5.25 acres of adjacent land on which to expand. The sites are across the street from an existing Moove In location. The property will be managed by Investment Real Estate Management LLC (IREM), a member of IRE Group of Companies.

Hanes Storage in Flagstaff, Arizona, sold. The 4-acre property at 5900 E. Copeland Lane comprises 72,200 rentable square feet in 399 units. The seller was represented in the transaction by Jeff Gorden of KW Commercial, an affiliate of the Argus Self Storage Advisors, a Denver-based network of real estate brokers who specialize in storage properties.

MCSS Development & Investment LLC, a joint venture between Rivergate Cos. and SJM Partners Inc., sold a portfolio of six Miami City Self Storage facilities in South Florida. Built in 2018 and 2019, the properties in Broward and Miami-Dade Counties comprise a total of 517,632 rentable square feet in 6,197 units. They were 90% occupied at the time of sale. The seller was represented in the transaction by Aaron Swerdlin, vice chairman of the Newmark Self Storage Group, an entity of commercial real estate firm Newmark Group Inc.

Quality Mini Storage in Independence, Kansas, sold to a California-based limited liability company (LLC). The facility at 2215 W. Laurel St. comprises 41,857 square feet in 193 traditional units, 10 trailer spaces, nine office units and outdoor vehicle-storage spaces. A warehouse on the property could be converted to self-storage, and the site has room for future expansion. The buyer and seller, a local LLC, were represented in the transaction by Robert Cook, associate, and Sean M. Delaney, senior vice president, for M&M.

Staatsburg Self Storage in Staatsburg, New York, sold. Built in 1986 and renovated in 2016 and 2019, the facility at 4920 U.S. Highway 9 comprises 29,165 rentable square feet with room for expansion. The facility was 98% occupied at the time of sale. The seller was represented in the transaction by The Hatcher Group of M&M.

Storage Port in Tanner, Alabama, sold. Opened in 2020, the facility at 5750 Mooresville Road comprises 125,060 net rentable square feet in 571 units. The seller was represented in the transaction by The Hatcher Group of M&M.

Strategic Storage Trust VI Inc. (SST VI), a private real estate investment trust (REIT) sponsored by an affiliate of SmartStop Self Storage REIT Inc., acquired two recently constructed self-storage facilities in Apopka and Bradenton, Florida. The newly built property at 2200 Coral Hills Road in Apopka comprises 44,300 rentable square feet in three single-story structures, with room for expansion. Built in October 2020, Swift Self Storage at 6424 14th St. W. in Bradenton comprises about 65,700 square feet in 873 units. The seller of the Swift property was represented in the transaction by The Hatcher Group. These are the seventh and eighth acquisitions for SST VI since launching in early 2021.

Buchanan Street Partners, a real estate investment firm, purchased a U-Stor-It self-storage facility in Vista, California, for $34 million from the original developer, Chicago Capital Funds, which will continue to manage the property. Built in 2003 and refurbished last year, the three-story building at 1340 N. Melrose Drive comprises 1,200 units and 50 vehicle-storage spaces. Based in Newport Beach, California, Buchanan focuses on investing in commercial and multi-family direct ownership and debt investments.

Andover Properties LLC, which operates the Storage King USA brand, acquired a three-property portfolio in North Carolina and Virginia. The acquisition included two sites in North Carolina’s Outer Banks and one in Chesapeake, Virginia. Together, they comprise 197,000 net rentable square feet in 1,465 units.

Andover also purchased a two-facility portfolio in Pontiac and Waterford Township, Michigan. Together, the properties comprise 137,900 rentable square feet in 842 units. Andover owns a facility adjacent to the Waterford Township site and will combine both into a single integrated property. Established in 2003, New-York based Andover owns and manages 116 storage properties in 16 states, comprising 8.8 million rentable square feet.

SpareBox Storage, which operates 91 self-storage facilities in eight states, has acquired four facilities in Northwest Arkansas and Spartanburg, South Carolina, from multiple sellers. Together, they comprise more than 400,000 net rentable square feet. Launched in August 2020, SpareBox is sponsored by Rizk Ventures, which owns and operates commercial and healthcare properties in the United States and Colombia, South America.

Pogoda Cos., which operates 58 National Storage Centers locations, has purchased an unidentified facility in Monroe Michigan, and a five-property portfolio that includes one site in Evansville, Indiana, and four in Owensboro, Kentucky. Together, they comprise 359,918 square feet in 2,819 units. Based in Farmington Hills, Michigan, Pogoda operates more than 3.75 million square feet of self-storage space in Indiana, Kentucky, Michigan and Ohio.

Self-storage REIT Extra Space Storage purchased a five-property portfolio in Central Florida from a joint venture between Chicago-based Blue Vista Capital Management and Flagship Cos. Group of Florida. A sixth facility is under contract and expected to close next month. The sale included the facilities at 6174 Goldenrod Road and 13597 S. Orange Ave. in Orlando; 1451 Rinehart Road in Sanford; 10110 Anderson Road in Tampa; and 1830 E. State Road 60 in Valrico. Together, they comprise 373,215 net rentable square feet in 3,020 units. The seller was represented in the transaction by LeClaire and Schlosser.

New Sources:
Multi-Housing News, Historic Denver Storage Changes Hands
Multi-Housing News, Reliant Real Estate Management Buys Self Storage Portfolio
My Ballard, Ballard Mini Storage Sells for $7 Million
PR Urgent, Sold – American Self Storage South at Bermuda Run in Advance, NC
PR Newswire, Abacus Capital, WDM Family Enterprises and Big Cypress Capital Announce $21.8 Million Sale of Johnston Corners Self-Storage Facility
PR.com, Argus Broker Affiliate Announces Sale of Arkansas Self Storage Portfolio
RE Journals, Marcus & Millichap Sells Four-Property Self-Storage Portfolio in Indiana

Previous Sources:
PR Web, Apple Self Storage Acquires Self Storage Facility in Barrie
Yahoo Finance, SpareBox Storage Acquires 4 Self Storage Properties in Spartanburg SC and Northwest AR
Business Wire, Strategic Storage Trust VI Inc. Acquires Two Recently-Constructed Properties in Florida
Multi-Housing News, Buchanan Street Pays $34M for San Diego Storage Facility
Nashville Post, Bellevue Self-Storage Building Sale Sets Apparent Record
REBusiness Online, Marcus & Millichap Brokers Sale of 378-Unit Self-Storage Facility in Greencastle, Pennsylvania

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