Inside Self-Storage is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Self-Storage Real Estate Acquisitions and Sales: June 2021

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 June 2021.

A three-property Advantage Storage portfolio in Odessa, Texas, sold. Together, the facilities at 5101 E. 52nd St., 6501 E. Business 20 and 5136 E. University Blvd. comprise 252,506 net rentable square feet in 1,428 units. The 52nd Street location was expanded in 2019 and has room for future development. Advantage operates more than 50 self-storage facilities in Arizona, Colorado and Texas. The seller was represented in the transaction by The Hatcher Group of Marcus & Millichap (M&M), a commercial real estate investment firm with offices throughout Canada and the United States.

Allsafe Self Storage in Cedar Hill, Texas, sold to an out-of-state private investor. Built in 2000 and expanded in 2011, the facility at 611 E. Beltline Road comprises 85,550 square feet in 599 units. The buyer and the seller, a private developer and investor, were represented in the transaction by Kyle Newswanger, an investment specialist with Colliers International, an investment management company with operations in 67 countries.

Amar Road Self Storage in City of Industry, California, sold. Built in 2009, the facility at 15870 Amar Road comprises 48,460 net rentable square feet in 438 units and 28 vehicle-storage spaces. The property had physical occupancy of 96.4% at the time of sale. The seller was represented in the transaction by The Hatcher Group of M&M.

Public Storage, a self-storage real estate investment trust (REIT) and management company, acquired Arbor Town Storage and University Storage in Estero and Fort Meyers, Florida, from Seagate Development Group, which built the properties in 2019 and 2020, respectively. Arbor Town at 20091 Tiburon Way comprises 76,000 square feet in 663 units. The three-story University Storage at 10688 Colonial Blvd. offers 63,275 square feet in 601 units. The transaction was brokered by SW Management & Realty LLC, a Seagate affiliate. Seagate is a development company specializing in construction, custom renovations, interior design, management and leasing.

Andover Properties LLC, which operates the Storage King USA brand, purchased Bagdad Mini Warehouses in Milton, Florida. The property at 4065 Garcon Point Road comprises 37,000 net rentable square feet in 288 units and 97 vehicle-storage spaces. The seller was represented in the transaction by The Hatcher Group of M&M. Established in 2003, New-York based Andover owns and manages more than 75 storage properties in 16 states, comprising 5.7 million square feet across 42,500 units.

Black Box Self Storage in Tanner, Alabama, sold. Built in 2016, the facility at 20285 Huntsville Brownsferry Road comprises 75,225 net rentable square feet in 388 units and 51 vehicle-storage spaces. The seller was represented in the transaction by The Hatcher Group of M&M.

The three-property Cornerstone Storage LLC portfolio in Council Bluffs and Omaha, Nebraska, sold to Missouri- and Pennsylvania-based buyers. Together, the facilities at 1911 Rue St. in Council Bluffs, and 8787 S. 192nd St. and 6100 S. 72nd St. in Omaha comprise about 45,000 net rentable square feet in 309 units. The seller was represented in the transaction by Bill Bellomy and Michael Johnson of Bellomy & Co., a commercial real estate firm with offices in Austin and Houston, Texas. Bellomy and Johnson also procured the buyers.

A newly constructed self-storage facility managed by REIT CubeSmart sold in Stratford, Connecticut. Built on 1.25 acres, the four-story building at 225 Lordship Blvd. comprises 84,555 net rentable square feet in 914 units. The facility received its Certificate of Occupancy in April. The seller was represented in the transaction by Matt Davis, vice president, Thomas K. Gustafson, national director, and Enzennio Mallozzi, managing director, of the Self Storage Group for Colliers International.

Envy Self-Storage & RV in Gilbert, Arizona, sold for $17.5 million to Arizona-based JLL Arizona Self Storage LLC. The facility at 18612 S. Lindsay Road comprises 127,745 net rentable square feet in 757 units. The property is in the middle of expanding to include an additional 39 covered and three uncovered RV-storage spaces. The seller, Arizona-based 202 Storage LLC, was represented in the transaction by Denise Nunez, 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.

Strategic Storage Trust VI Inc. (SST VI), a private REIT sponsored by an affiliate of SmartStop Self Storage REIT Inc., acquired Full House Self Storage in Las Vegas. Completed nearly a year ago, the facility at 8570 S. Durango Drive comprises 52,200 square feet in 335 units. It’s the third acquisition for the newly formed SST VI and the 10th property owned or managed by SmartStop in the Las Vegas market. Based in Maryland, SST VI invests in self-storage and related real estate investments in Canada and the United States.

Interstate Mini Storage in Gainesville, Florida, sold. The facility at 2707 S.W. 40th Blvd. comprises 106,883 net rentable square feet in 831 units and 63 vehicle-storage spaces. It includes a manager’s residence. The property had physical occupancy of 83% at the time of sale. The seller was represented in the transaction by The Hatcher Group of M&M.

A joint venture between Blue Vista Capital Management LLC and Montfort Capital Partners LLC acquired a San Antonio facility that’s managed and branded by REIT Life Storage Inc., which will continue to oversee it. The property at 12991 Potranco Road comprises 79,810 square feet in 694 units. The seller was represented in the transaction by Jon Danklefs, an investment specialist with M&M, who also procured the buyer. Based in Chicago, Blue Vista is a real estate investment management firm. Montfort is a Dallas-based firm that invests exclusively in self-storage nationwide. The purchase is Montfort’s eighth in Texas.

Londonderry Storage in Middletown, Pennsylvania, sold. Built in 1999 and expanded onto an adjacent parcel in 2003, the facility at 4043 E. Harrisburg Pike offers 49,250 net rentable square feet in 371 units. The seller, a limited-liability company, was represented in the transaction by Gabriel Coe, Nathan Coe and Brett Hatcher, investment specialists with The Hatcher Group. They were assisted by M&M Broker Sean Beuche.

Meadows Self Storage in Castle Rock, Colorado, sold to a joint venture between Invesco Real Estate and Westport Properties, which operates the US Storage Centers brand. Built in 2018, the facility at 4395 Regent St. comprises 54,102 rentable square feet in 472 units and vehicle-storage spaces. The seller was Castle Rock Development. Invesco is the global real estate investment-management arm of Invesco Ltd. It invests in direct property and publicly traded real estate securities. Founded in 1985, US Storage Centers has more than 10 million rentable square feet under management.

Storage Express, which owns and operates 114 properties in Indiana, Illinois, Kentucky, Ohio and Tennessee, acquired Mt. Tabor Storage in New Albany, Indiana. The two-year old facility at 614 Mt. Tabor Road comprises 40,000 square feet in 370 units. The buyer and the seller were represented in the transaction by Hunter Sells, a senior associate with SkyView Advisors, a Tampa, Florida-based commercial real estate brokerage firm that specializes in self-storage.

SmartStop Self Storage, which operates 154 properties in 19 states and Ontario, Canada, acquired Super Storage in Riverside, California. The facility at 6637 Van Buren Blvd. comprises 69,800 square feet in 379 units and 71 vehicle-storage spaces. SmartStop has $1.7 billion of real estate assets under management including 11.8 million rentable square feet of self-storage.

iStorage Self Storage purchased Union Road Self Storage in White House, Tennessee. The 6-acre property at 2979 Union Road comprises 74,270 net rentable square feet in 362 units. The facility was built in 2004 and expanded in 2017. The buyer and the seller were represented in the transaction by Coe and Hatcher. They were assisted by M&M Regional Manager Jody McKibben. iStorage, which operates facilities in 13 states, is owned by National Storage Affiliates Trust, a Maryland REIT specializing in self-storage.

SpareBox Storage, which operates 41 facilities in five states, acquired four properties in Niceville, Florida, and Edmond, Oklahoma, from multiple sellers. Combined, they comprise 306,000 net rentable square feet and more than 2,000 units. Launched last year, SpareBox Storage is sponsored by Rizk Ventures, an operating and investment platform with a focus on healthcare, real estate and technology.

Andover also acquired a five-property self-storage portfolio in Aubrey, Crowley and Wylie, Texas. Together, the facilities comprise 278,840 rentable square feet in 1,736 unit and 329 vehicle-storage spaces. The sale included extra land for expansion. The Dallas-based seller was represented in the transaction by Bellomy and Johnson of Bellomy & Co., who also procured the buyer.

Business Observer, Developer Sells a Pair of Self-Storage Facilities
Business Wire, Strategic Storage Trust VI, Inc. Acquires Recently Developed Storage Facility in Las Vegas, NV
Business Wire, SpareBox Storage Announces Acquisition of Stabilized Self Storage Properties in Oklahoma and Florida
Fort Worth Business Press, Colliers Makes Self Storage Facility Sale
Multi-Housing News, Denver-Area Self Storage Changes Ownership
REBusiness Online, Colliers Arranges Sale of 599-Unit Allsafe Self-Storage Facility in Metro Dallas
REBusiness Online, Marcus & Millichap Brokers Sale of 371-Unit Self-Storage Facility in Middletown, Pennsylvania
The Argus Press, SmartStop Self Storage REIT, Inc. Acquires Self Storage Facility in Riverside, California

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.