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Self-Storage Real Estate Acquisitions and Sales: January 2022

Update 1/27/22 – 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.

A-1 Mini Warehouses in Houston sold to a local private investor. The facility at 5819 Victory Drive offers 270 units. The buyer and the seller were represented in the transaction by Dave Knobler, 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.

Ables Mini Storage in Ennis, Texas, sold. Built in 1962 and last expanded in 2013, the facility at 2501 N. Kaufman St. comprises 87,320 rentable square feet in 629 units and 46 RV-storage spaces. It was 96% occupied at the time of sale. The seller was represented in the transaction by The Hatcher Group of M&M.

Adventure Boat & RV Storage in Indian Mound, Tennessee, sold to a first-time self-storage investor. Built in 2017 and expanded in 2018, the facility at 2880 State Highway 79 comprises 78,512 square feet in 136 units designed for boat and RV storage. The property, which has room for expansion, was 100% occupied at the time of sale. The seller, a private investor, was represented in the transaction by Trey Kirby, vice president of NAI Nashville, a division of commercial real estate firm NAI Global. The buyer was represented by Anne Williams-Blackwell, first vice president of investments for M&M.

Bear Valley West Self Storage in Victorville, California, sold. The facility at 12829 Bear Valley Road comprises 111,180 net rentable square feet in 576 units. The seller was represented in the transaction by The Hatcher Group of M&M.

Andover Properties LLC, which operates the Storage King USA brand, acquired Copper Safe Storage in Panama City, Florida. Built just last year, the facility at 5015 N. Star Ave. comprises 62,500 square feet in 547 units. Established in 2003, New-York based Andover owns and manages 122 storage properties in 16 states.

Andover also acquired Parkmore Storage in Milton, Florida. The facility at 4646 Parkmore Plaza Drive comprises 56,450 square feet in 360 units, with room for expansion.

A Metairie, Louisiana, facility managed by self-storage real estate investment trust (REIT) CubeSmart sold. The five-story building at 3017 N. Causeway Blvd. sits on just over an acre of land and comprises 97,000 square feet in 1,050 units. The seller was represented in the transaction by Ashley Compton, national director of Colliers Self Storage Group, which specializes in the acquisition, disposition and financing of self-storage facilities nationwide.

A two-property Georgia portfolio managed by CubeSmart sold to REIT Extra Space Storage Inc. The facilities at 2141 Powers Ferry Road in Marietta and 2232 Mountain Industrial Blvd. in Tucker comprise a combined 171,990 rentable square feet in 1,843 units. The seller, Atlanta-based development firm Mequity Cos., was represented in the transaction by Ian Lindahl, investment associate, and Adam Schlosser, senior vice president of investments, for The LeClaire-Schlosser Group of M&M. Lindahl and Schlosser also secured the buyer. Headquartered in Salt Lake City, Extra Space owns or operates more than 2,000 self-storage properties in 41 states and Washington, D.C.

A CubeSmart-managed self-storage facility in Charleston, South Carolina, sold. Built in November 2020 about six miles from downtown, the facility comprises 70,774 square feet in 677 climate-controlled units and a rentable retail space. The seller was represented in the transaction by Gabriel Coe and Brett R. Hatcher, investment specialists for M&M.

A CubeSmart-managed self-storage property in Houston sold to private real estate company Hickory Capital Group LLC. Built on .91 acres, the five-story facility at 1508 Bingle Road comprises 77,969 square feet in 819 units. The seller, Provident Realty Advisors, was represented in the transaction by Compton.

Easy Self Storage in Houston sold to LandPark Advisors LLC, a local firm specializing in commercial real estate and investment management. Built in 1984 and expanded last year, the facility at 11901 State Highway 249 comprises 30,000 rentable square feet. Right Move Storage LLC, the third-party management company that oversaw the expansion, has managed the property since 2017 and will continue to do so. Founded in 2013, Right Move manages a portfolio of more than 50 self-storage facilities.

Elite Self Storage in Langford, British Columbia, Canada, sold for $20.2 million. Built in 2020 on 1.6 acres, the facility at 4402 Westshore Parkway comprises 37,025 square feet of traditional self-storage and 2,500 square feet of rentable commercial space. The deal was brokered by Connor Braid, Harry Jones and Patrick Wood with William Wright Commercial, a Victoria, British Columbia, real estate firm.

A Hartford, Connecticut, facility managed by REIT Extra Space Storage Inc. sold to Store Space Self Storage, which operates more than 80 properties in 20 states. The facility at 31 Pope Park Highway was 97% occupied at the time of the sale. The seller was represented in the transaction by Ryan Clark, director of investment sales, and Aaron Sanchez, senior associate for SkyView Advisors, a Tampa, Florida-based commercial real estate brokerage firm that specializes in self-storage.

Hanover Mini Storage in Hanover, Pennsylvania, sold to an out-of-state buyer. Built in 2019, the facility comprises 18,750 square feet in 140 units. The buyer and the seller were represented in the transaction by Coe, Nathan Coe, Luke Dawley and Hatcher, investment specialists with M&M. They were assisted by fellow M&M broker Sean Beuche.

The two-property I Stor-It portfolio in Springfield, Missouri, sold. Together, the facilities comprise 52,290 net rentable square feet, with room for expansion. The seller was represented in the transaction by Clark and Sanchez.

A Carrollton, Texas, self-storage facility managed by REIT Life Storage Inc. sold. The building comprises 90,656 net rentable square feet in 881 units. The seller was represented in the transaction by Clark and Zachary Urow, senior vice president for SkyView Advisors.

A recent self-storage conversion project in St. Louis sold to a Texas-based limited-liability company (LLC). Built in 2019 and expanded last year, the property at 4935 Fyler Ave. comprises 71,015 square feet in 598 units and 137 vehicle-storage spaces. It’s managed by REIT Life Storage. The buyer and seller, a local LLC, were represented in the transaction by Sean M. Delaney, senior vice president and investment specialist for M&M.

Markham Self Storage in Jackson, Tennessee, sold to a private buyer in a 1031 exchange. The facility at 60 Fairway Blvd. comprises 63,412 net rentable square feet in 362 units. The buyer and the seller were represented in the transaction by Andrew Plunkett, vice president, Parker Sweet, president, and Cameron Vale, senior vice president for brokerage and advisory firm Berkshire Hathaway Commercial Real Estate.

My Storage Space in Grand Rapids, Michigan, sold. The facility, which received its Certificate of Occupancy in July, comprises 61,190 rentable square feet in 598 units. It was designed with a flexible unit mix to accommodate area demand. The seller was represented by Clark and David Zehendner, senior associate for Skyview Advisors.

A joint venture between investment-management firm Invesco Ltd. and Westport Properties Inc. purchased two My Neighborhood Storage Center facilities in Orlando and Windermere, Florida, from a private entity for $58.25 million. The property at 7660 Majorca Place in Orlando comprises 65,663 square feet in 594 units. The facility at 7902 Winter Garden Vineland Road in Windermere offers 64,180 square feet in 572 units. The 2.22-acre Windermere property has approval for an expansion of 22,757 square feet and 306 units. The seller was represented in the transaction by the Self Storage Advisory Group of CBRE Group Inc., a commercial real estate services and investment firm. Westport operates more than 120 US Storage Centers nationwide.

The three-property Reidsville Mini Storage portfolio in Reidsville, North Carolina, sold for $5.13 million to an LLC. Together, the facilities comprise 75,585 square feet in 624 units, 36 vehicle-storage spaces, 24 portable-storage containers and other rentable spaces. The buyer and the seller, a private investor, were represented in the transaction by Stacey Gorman, investment specialist for M&M.

Safe & Sound Storage in Pine Bush, New York, sold. The facility at 26 Ted Drive comprises 8,700 net rentable square feet in 84 units, with room for expansion. The seller was represented in the transaction by The Hatcher Group of M&M.

A four-property Santa Fe Storage portfolio in Santa Fe, Texas, sold to a Los Angeles-based private investor. Built between 1979 and 1984 on about 4.35 acres, the facilities comprise a two-story office and residence as well as 17 single-story buildings offering 655 storage units. There are also 21 vehicle-storage spaces. The buyer and the seller, Raymond Haak, were represented in the transaction by Knobler.

The two-property Security Storage portfolio in Palestine, Texas, sold to a local private investor. The facility at 2003 Crockett Road comprises 97,370 net rentable square feet in 683 units. The satellite site at 2903 W. Oak St. offers 20,000 net rentable square feet in 156 units. The buyer and the seller, a private investor, were represented in the transaction by Knobler.

Self-storage REIT Public Storage Inc. purchased Stör Self Storage in Inver Grove Heights, Minnesota. Opened last year, the facility at 9725 S. Robert Trail comprises 89,920 rentable square feet, including 150 vehicle-storage spaces. The buyer and the seller, Valley Homestead Properties LLC, were represented in the transaction by Tom Flannigan, Matt Haugen and Alex Ihrke of KW Commercial Minneapolis, an affiliate of Argus Self Storage Advisors, a Denver-based network of real estate brokers who specialize in storage properties.

Stor-Ette Storage in Dade City, Florida, sold. The facility at 16031 U.S. Highway 301 comprises 42,125 rentable square feet in 382 climate-controlled and traditional units, 61 portable-storage units, and 16 vehicle-storage spaces. With room to expand, the property was 93% occupied at the time of sale. The seller was represented in the transaction by The Hatcher Group.

Stor U Self Storage in Portland, Connecticut, sold to Storage Rentals of America, which operates more than 240 facilities nationwide. The 5-acre property at 127 Main St. offers 68,774 square feet in 650 units. It also contains a 68,774-square-foot commercial building. The buyer and the seller were represented in the transaction by Coe, Coe and Hatcher. They were assisted by fellow M&M broker Susan Bands.

Insite Property Group, the parent company of SecureSpace Self Storage, acquired Storage Maxx in Homestead, Florida. The three-story facility at 1496 Old Dixie Highway comprises 42,306 net rentable square feet in 320 units. The 2.2-acre property also offers 129 vehicle-storage spaces. The seller was represented in the transaction by The Hatcher Group. Based in Torrance, California, InSite has more than 50 facilities operating or under construction.

Storage Perfecto in Brownsville, Texas, sold to a private, national buyer. The facility at 1045 Mexico Blvd. comprises 55,250 rentable square feet in 418 units. The buyer and the seller, a regional developer, were represented in the transaction by Plunkett, Sweet and Vale.

Storage Port in Tanner, Alabama, sold to iStorage, which operates more than 240 locations nationwide. Opened in 2020, the facility at 5750 W. Mooresville Road comprises 125,060 square feet in 571 units and 46 vehicle-storage spaces. It also contains two offices totaling 125,060 net rentable square feet. The seller was represented in the transaction by Coe and Hatcher. They were assisted by fellow M&M broker Eddie Greenhalgh.

Valley Storage Co., which operates 45 self-storage facilities in seven states, acquired Tryon Mini Storage in New Bern, North Carolina. The facility at 2908 Neuse Blvd. offers 256 units. It’ll be managed by Storage Asset Management, a property management and consulting company.

Volo Storage in Volo, Illinois, sold. Built on 7.6 acres, the facility at 30151 U.S. Highway 12 comprises 85,800 rentable square feet in 545 units. The seller was represented by Clark and Zehendner.

Walter Hill Storage in Murfreesboro, Tennessee, sold. Built on 9.3 acres, the facility at 851 E. Jefferson Pike comprises 45,350 rentable square feet in 273 units as well as four offices, two apartments and 82 vehicle-storage spaces. It was 88% occupied at the time of sale. The seller was represented in the transaction by The Hatcher Group.

Philadelphia-based Snapbox Self Storage acquired three recently constructed storage properties in separate deals with local developers. Two facilities are in Fort Lauderdale and Miami, Florida, and one is in Windsor Mill, Maryland. Built in 2021, the facility at 1401 S.W. 1st Ave. in Fort Lauderdale comprises 74,000 square feet in 888 units. The seller was CH SS Fund-Storsafe Fort Lauderdale Poinciana Park LLC. The site at 19301 W. Dixie Highway in Miami was built in 2019 and encompasses 82,000 square feet in more than 1,000 units. The seller was 19301 West Dixie LLC. Built in 2020, the Windsor Mill property at 2760 Lord Baltimore Drive comprises 103,000 square feet in more than 1,100 units. Snapbox operates more than 25 facilities in nine states.

A self-storage facility and carwash in Concord, New Hampshire, sold to a private-equity investor. The property offers 443 storage units, with room for expansion. The seller was represented in the transaction by Joe Mendola of NAI Norwood Group, an Argus affiliate.


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 Colfax Storage Partners LLC for $7.8 million. Built in 1926 and converted to self-storage in the 1970s, the eight-story facility at 2100 E. Colfax Ave. comprises 42,132 square feet. It’ll be operated by Los Angeles-based A-American Self Storage, which owns or manages 24 locations in California, Colorado, Hawaii and Nevada. 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:

Global Newswire, InSite Property Group Acquires Storage Maxx in Miami MSA
PR.com, Argus Broker Affiliate Announces Sale of Concord New Hampshire Self Storage and Car Wash Facility
REBusiness Online, SkyView Advisors Arranges Sale of 881-Unit Self-Storage Facility in Metro Dallas
Yahoo Money, Need Extra Space? National Storage Company Buys Into New Bern as Demand Climbs
Business Wire, LandPark Advisors Acquires Self Storage Facility in Houston, Texas
Commercial Observer, Self-Storage Firm Pays $38M for South Florida Properties
PR Newswire, Snapbox Self Storage Continues Growth With Acquisitions in Maryland and Florida
REBusiness Online, Marcus & Millichap Negotiates Sale of 71,015 SF Self-Storage Facility in St. Louis
Recently Heard, ‘Storage Castle’ on Colfax Avenue Sells for Second Time in a Century
Western Investor, New self-storage in Langford Bought for $20.2 Million
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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