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Self-Storage Real Estate Acquisitions and Sales: October 2021

Update 10/25/21 – 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 October 2021.

A-Z at the Fork in Paw Paw, Michigan, sold for $900,000. The self-storage facility at 45045 W. Red Arrow Highway comprises 14,291 square feet. The seller, a private investor, was represented in the transaction by 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 broker Steve Chaben assisted.

Affordable Storage in Orange, Texas, sold to a limited-liability company (LLC). The facility at 19238 TX-62 comprises 23,340 square feet. The buyer and the seller, a private investor, were represented in the transaction by Danny Cunningham, Brandon Karr, Dave Knobler and Mixson Staffel, investment specialists for M&M.

All Valley Mini Storage in Sedro-Valley, Washington, sold to a regional investment group. The facility at 31687 Highway 20 covers on two parcels totaling nearly 5 acres. Built in 2004 and expanded in 2018, it comprises 74,989 net rentable square feet in 473 units. The buyer and the seller, an LLC, were represented in the transaction by Christopher R. Secreto, senior managing director of investments for M&M.

Alamance Self Storage in Elon, North Carolina, sold to Store Space Self Storage, which also manages facilities on behalf of other owners. The facility at 937 E. Haggard Ave. comprises 39,674 net rentable square feet in 63 units. The buyer and the regional, private 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.

Apublix Self Storage in Oklahoma City sold. The facility at 1300 S. MacArthur Blvd. comprises 83,960 rentable square feet in 563 units. The buyer and the seller were represented in the transaction by Cunningham, Karr and Bryan Quaschnick of The Karr Self Storage Team of M&M.

A two-property portfolio consisting of Crowley Storage and Happy Storage in Crowley, Texas, sold to a private partnership using proceeds from the sale of its first self-storage development to complete a 1031 exchange. The facilities at 10701 and 10531 Old Cleburne Crowley Junction comprise 33,100 rentable square feet in 263 units. The buyer and the seller, a private owner who built the facility, were represented in the transaction by Cunningham and Karr.

A Harrisburg, Pennsylvania, self-storage facility managed by real estate investment trust (REIT) CubeSmart sold to Rosewood Property Co. (RPC). The property at 5700 Linglestown Road comprises 35,430 square feet in 342 units. Converted in 2019 from an old warehouse, the building is adjacent to another Rosewood self-storage asset. Dallas-based RPC owns 57 self-storage facilities across 12 states. It’s the real estate investment vehicle of The Rosewood Corp., a private investment concern owned by the Caroline Hunt Trust Estate. Its investments include office, multi-family, industrial, self-storage and land.

StorageMart, which operates more than 250 self-storage properties across Canada, the United Kingdom and the United States, acquired a CubeSmart facility in Fishers, Indiana, from York Allison LLC. The facility at 10415 Allisonville Road comprises 73,183 square feet. StorageMart was represented in the transaction by Stephen Lapierre, David Paulson and Wyatt Whitaker of Ackerman Co., and Steven Cornblatt and Coleman Tirone of Trout Daniel & Associates. Founded in 1999 and based in Columbia, Missouri, StorageMart is privately owned and operated by the Burnam Family. Its portfolio consists of more than 15 million square feet of storage.

A Lexington, South Carolina, property managed by CubeSmart sold to an out-of-state buyer. Built in 2019 on 3.3 acres, the multi-story facility at 1120 Old Cherokee Road comprises 55,545 square feet in 402 units. It’s equipped with solar panels and was nearly 100% occupied at the time of sale. The seller was represented in the transaction by Dale C. Eisenman, president of Midcoast Properties Inc., a commercial real estate brokerage focused on self-storage in Alabama, the Carolinas and Georgia.

A Schaumburg, Illinois, facility managed by REIT Extra Space Storage sold to a regional private seller. The property comprises 73,605 net rentable square feet in 713 units. The buyer and the seller were represented in the transaction by Sweet, Vale and Liam Snyder, senior associate for Berkshire Hathaway.

A recently completed Extra Space Storage facility in Margate, Florida, was acquired by an affiliate of the REIT for $22.1 million. The property at 750 and 780 South State Road 7 comprises 101,300 square feet. The transaction included an adjoining parking lot. The seller was Nuvo Development, which developed the site. Headquartered in Salt Lake City, Extra Space owns or operates more than 1,973 self-storage properties nationwide and in Puerto Rico. The company’s properties comprise approximately 1.4 million units and 152.6 million square feet of rentable space.

Andover Properties LLC, which operates the Storage King USA brand, purchased Gulf Freeway Self Storage in Houston. Built last year, the facility at 12336 Gulf Freeway comprises 62,600 rentable square feet in 615 climate-controlled units. Established in 2003, New-York based Andover owns and manages 108 storage properties in 16 states, comprising 8 million rentable square feet.

Harvey's Storage in Bedford, Virginia, sold. The facility at 1127 E. Lynchburg Salem Turnpike comprises 62,490 net rentable square feet in 368 units and 20 vehicle-storage spaces. The seller was represented in the transaction by The Hatcher Group of M&M. Harvey’s also operates a location in Pulaski and two in Radford, Virginia.

Midlothian Self Storage in Midlothian, Texas, sold to a buyer in a 1031 exchange. The facility 200 E. Ridgeway Drive comprises 94,385 square feet. The buyer and the seller, a private owner, were represented in the transaction by Karr.

Posen Storage in Posen, Illinois, sold to National Storage Affiliates Trust, a Maryland-based REIT. Built in 2020, the three-story facility at 14750 S. Western Ave. offers 535 units. The buyer and the seller, Safe Affordable Storage LLC, were represented in the transaction by Dan Lynch, senior vice president of the Self Storage Group for Colliers International.

Riverside Boat & RV Storage in Newcastle, Oklahoma, sold. The facility at 3100 N. Main St. comprises 161,316 rentable square feet in 472 units. The buyer and the seller, a private owner who built the facility, were represented in the transaction by Cunningham, Karr and Quaschnick.

Settlers Landing Self Storage in Concord, North Carolina, sold. Built on 2 acres at 260 Robins Way, the newly constructed facility comprises 21,773 rentable square feet in 355 units and is pre-approved for an additional 12,000 square feet of drive-up space. The seller was represented in the transaction by Sean Delaney, senior vice president of investments, and The Hatcher Group of M&M.

Development and real estate firm InSite Property Group, which operates the SecureSpace Self Storage brand, acquired Storage Etc. in the Lakewood neighborhood of Tacoma, Washington. The facility at 12611 Pacific Highway S.W. comprises 52,890 square feet and was 99% occupied at the time of sale. The facility has been expanded three times, including last year. It’ll be rebranded as SecureSpace and managed by InSite’s wholly owned management firm. Based in Torrance, California, InSite has 49 facilities operating or under construction.

Storage in Stowe, a two-property portfolio in Stowe, Vermont, sold. The facilities at 697 Moscow Road and 2858 Waterbury Road are about one mile apart. Together they comprise 37,674 rentable square feet in 269 units. They were 100% occupied at the time of sale. The seller was represented in the transaction by The Hatcher Group of M&M.

Advent Property Advisors sold West Alameda Self Storage in Lakewood, Colorado, to SmartStop Self Storage REIT Inc. Built in 1998, the facility at 12750 W. Alameda Parkway comprises about 87,000 square feet in 769 units. It’s SmartStop’s seventh owned or managed location in the Denver market and 158th in North America. Based in Ladera Ranch, California, SmartStop operates facilities in 19 U.S. states and Toronto. Through its indirect subsidiary SmartStop REIT Advisors LLC, it sponsors other self-storage programs and has $1.8 billion of real estate assets under management.


10/13/21 – 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 October 2021.

Phoenix-based U-Haul International Inc. has acquired a facility in Durham, North Carolina, from 10 Federal, a diversified real estate firm that operates more than 25 facilities in the Southeast. The 6.95-acre property at 2215 Sedwick Road consists of six single-story buildings with both climate-controlled and drive-up units. Established in 1945, U-Haul owns and manages more than 71 million square feet of storage space nationwide.

145 Storage in Jackson, Michigan, sold for $2.9 million to a limited-liability company (LLC). The facility at 6001 Ann Arbor Road comprises 47,400 square feet in 362 drive-up units. The buyer was represented in the transaction by Robert Cook and Sean Delaney, investment specialists with Marcus & Millichap (M&M), a commercial real estate investment services firm with offices throughout Canada and the United States. The seller, also an LLC, was represented by M&M broker Tom Berlin.

1st Defense Self Storage in Corpus Christi, Texas, sold for $10.2 million to Angelo Gordon Real Estate Inc. The facility at 3205 Rodd Field Road comprises 73,273 net rentable square feet in 673 units. The property uses flex-space building technology, which allows the facility operator to adjust the unit mix in response to market demand. The seller, Rodd Field Self Storage LLC, 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.

A-Plus Self Storage in Lenhartsville, Pennsylvania, sold to a private buyer. The facility on Interstate 78 was 100% occupied at the time of sale. The seller was represented in the transaction by Investment Real Estate LLC (IRE), a provider of brokerage, construction, development and management services to self-storage owners and investors since 1998.

AA Self Storage in Junction City, Kansas, sold to an LLC. The facility at 1838 Old U.S. 40 comprises 104,610 square feet. The buyer and seller, also an LLC, were represented in the transaction by Cook and Delaney of M&M.

National Storage Affiliates Trust (NSAT), a Maryland-based real estate investment trust (REIT), acquired a two-property self-storage portfolio in Texas in an off-market deal. Affordable Self Storage at 3119 N. Powell Parkway in Anna comprises 86,000 square feet. Cutting Horse Self Storage at 1648 Ric Williamson Memorial Highway in Weatherford comprises 63,000 square feet. Both will be managed by NSAT affiliate Blue Sky Self Storage. The buyer was represented in the transaction by Chad Snyder and Tyler Trahant of Dominus Commercial, an affiliate of the Argus Self Storage Advisors, a Denver-based network of real estate brokers who specialize in storage properties. Headquartered in Greenwood, Colo., NSAT has ownership interest in 864 storage facilities in 36 states and Puerto Rico.

All American Self Storage in Evansville, Indiana, sold. The 5-acre property at 5100 Vogel Road contains five buildings comprising 66,010 square feet in 420 units. It also has room for expansion. The buyer and the seller were represented in the transaction by Neal Gussis and Rob Schick, representatives of Argus Self Storage Advisors, a Denver-based network of real estate brokers who specialize in storage properties.

Banning Mini Storage in Banning, California, sold. The facility at 2822 W. Ramsey St. comprises 22,027 square feet in 110 units. The seller, a California-based LLC, was represented in the transaction by Keith Phillips, investment associate, and Adam Schlosser, senior vice president of investments, for The LeClaire-Schlosser Group of M&M.

Barker Cypress Self Storage in Houston sold. Built in 1996 on 2.89 acres, the facility at 17635 W. Little York Road comprises 56,050 rentable square feet in 469 units. The site was expanded in 2003. The seller, a family partnership, was represented in the transaction by Dave Knobler, senior vice president of investments, and Charles “Chico” LeClaire, executive managing director of investments, for the LeClaire-Schlosser Group.

Shurgard Self Storage Europe SARL, the European affiliate of U.S.-based REIT Public Storage Inc., acquired the two-property CitySpace Self Storage portfolio in Central London. Both sites were converted from basement car parks The facility at 3, 16 Woburn Place is just off Russell Square and walking distance from The British Museum. The property at Level 2 Q-Park, Kinnerton Street is near Belgrave Square and Hyde Park Corner. Shurgard operates 252 self-storage properties comprising 1.3 million net rentable square meters in Belgium, Denmark, France, Germany, The Netherlands, Sweden and the United Kingdom.

A Miami Beach, Florida, facility managed by REIT CubeSmart sold to Baranof Holdings LLC, a Dallas-based self-storage developer. The facility comprises 21,731 net rentable square feet in 786 climate-controlled units and 135 wine-storage units. The seller was represented in the transaction by Gabriel Coe, Nathan Coe, Brett R. Hatcher and Meir Perlmuter, investment specialists with M&M. They were assisted by fellow broker Ryan Nee.

Quick Self Storage Holdings Ltd. has acquired Dainton Self Storage in Darlington, England, from Dainton Group Services Ltd., which operates 17 locations in Southwest England. The buyer was represented in the transaction by Joshua Gurton, Darren Hodson and Tom Joy of PKF Smith Cooper.

Development and real estate firm InSite Property Group, which operates the SecureSpace Self Storage brand, purchased a facility managed by REIT Extra Space Storage Inc. in the Waipahu neighborhood of Oahu, Hawaii. The facility at 94-130 Leokane St. comprises 44,390 square feet and was 99.4% occupied at the time of sale. It’ll be rebranded as SecureSpace and managed by InSite’s wholly-owned management firm.

Insite also acquired Gibsonton Storage in Riverview, Florida. Opened this year, the facility at 10105 Gibsonton Drive comprises 82,770 square feet of climate-controlled, drive-up and vehicle-storage units. Based in Torrance, California, InSite has 48 facilities operating or under construction.

A two-property Ohio portfolio including Green Valley Self Storage in Mt. Vernon and Springfield Self Storage in Springfield sold to an unidentified buyer. Together the facilities at 1042 Newark Road and 6530 Urbana Road, respectively, comprise 90,225 rentable square feet in 579 units. They’re about a one-hour drive apart and were 93% occupied at the time of sale. The seller was represented in the transaction by The Hatcher Group.

Interstate Mini Storage in White House, Tennessee, sold. The facility at 124 Industrial Drive comprises 28,450 square feet in 217 climate-controlled and drive-up units. The seller, an LLC, was represented in the transaction by Andy Beeckman, associate, and Anne Williams-Blackwell, first vice president of investments of The Williams Storage Group of M&M.

Andover Properties LLC, which operates the Storage King USA brand, purchased K2 Storage in Seguin, Texas. The 5-acre property at 122 Lettau Ave. offers 54,300 net rentable square feet in 320 climate-controlled and drive-up units. It also has office space for rent and land for expansion. Established in 2003, New-York based Andover owns and manages 103 storage properties in 16 states, comprising 7.8 million rentable square feet.

A self-storage facility managed by REIT Life Storage Inc. in Nashville, Tennessee, sold. The property comprises 58,229 square feet in 735 units. The seller was represented in the transaction by Ryan Clark, director of investment sales, and Aaron Sanchez, a senior associate with SkyView Advisors, a Tampa, Florida-based commercial real estate brokerage firm that specializes in self-storage.

A two-property portfolio managed by REIT Life Storage in San Antonio, Texas, sold. Together, the facilities comprise 154,845 rentable square feet in 1,305 units. The site at 870 Hot Wells Blvd. was built in January 2021, while the location at 3535 Roosevelt Ave. opened in July 2019. The seller was represented in the transaction by The Hatcher Group of M&M.

Marina Cove Storage in American Fork, Utah, sold. Built in 2016 and expanded in 2019, the facility at 22 E. 1500 S. comprises 129,145 square feet in 744 units. The property contains room for expansion. The seller was represented in the transaction by Jordan Farrer, investment associate, and Schlosser of The LeClaire-Schlosser Group.

Apple Self Storage acquired Marks St. Mini Storage in Thunder Bay, Ontario, Canada. The facility at 800 Marks St. N. offers drive-up units and will be managed from the company’s other site at 646 Hewitson St. Founded in 1975, family-owned Apple operates 36 facilities in New Brunswick, Nova Scotia and Ontario.

Middle Island Self Storage in Middle Island, New York, sold for $25 million. Built in 2019 on more than 5 acres, the facility at 901 Middle Country Road comprises 74,061 square feet in 726 units. It’s managed by Public Storage. The property was 91% occupied at the time of sale. The seller was represented in the transaction by Coe, Coe and Hatcher of The Hatcher Group, who also procured the buyer.

North River Storage in Tanner, Alabama, sold. The facility at 10928 U.S. Highway 31 comprises 31,990 rentable square feet in 205 units. The property has room for future expansion. The seller was represented in the transaction by The Hatcher Group.

A two-property Pennsylvania portfolio that includes Olyphant Self Storage in Olyphant and Peckville Self Storage in Blakely sold to a private investor. Together, the facilities at 1601 E. Lackawanna Ave. and 50 Sturges Road, respectively, comprise 68,000 net rentable square feet in 480 units. The seller was represented in the transaction by Matt Rosendale, brokerage advisor for IRE.

A two-property SecurCare Self Storage portfolio in Lufkin and Nacogdoches, Texas, sold. Together, the facilities comprise 31,680 square feet in 265 units. Located about 25 miles apart, the properties were more than 91% occupied at the time of sale. The seller was represented in the transaction by Chad Snyder and Tyler Trahant, broker affiliates of Argus. SecurCare operates more than 200 facilities nationwide. It’s a participating regional operator of NSAT.

Southwest Self Storage in Albuquerque, New Mexico, sold. The facility at 700 98th St. S.W. comprises 60,550 net rentable square feet in 577 drive-up units. The seller was represented in the transaction by The Hatcher Group.

Heitman LLC, which operates the Space Station Self Storage brand, has acquired Squab Storage in Daventry, England. The facility at Unit 1 Daimler Close in the Royal Oak Industrial Estate contains rooftop solar panels. Founded in 1966, Heitman is a global real estate investment management firm with $46 billion in assets under management.

A property managed by Storage Direct in Victorville, California, sold to Purely Storage, which operates 28 facilities in Arizona, California, Nevada, Texas and Washington. The facility at 15262 Mojave Drive comprises 73,150 net rentable square feet in 537 units. The seller was represented in the transaction by The Hatcher Group.

Storage Made EZ in Evans Mills, New York, sold to KO Storage, which operates more than 100 facilities in six states. The facility at 26026 US-11 comprises 80,000 net rentable square feet in 581 climate-controlled and drive-up units. It also contains nine retail spaces for rent. The seller was represented in the transaction by The Hatcher Group.

StorageMart, which operates more than 250 self-storage properties across Canada, the United Kingdom and the United States, acquired 10 facilities in Wisconsin for $125 million from Storage Masters, which operates six facilities in Illinois and Missouri. Together, they comprise 712,899 net rentable square feet in 5,664 units. Founded in 1999 and based in Columbia, Mo., StorageMart is privately owned and operated by the Burnam Family. Its portfolio consists of more than 15 million square feet of storage.

Simply Self Storage purchased an eight-property portfolio in Texas. The acquisition includes one location in Dallas and seven in Houston. Together, they total more than 680,000 net rentable square feet and 4,200 units. Founded in 2003, Simply operates more than 11 million square feet of storage in 23 states.

New Sources:
RE Journals, Marcus & Millichap Sells 14,291-Square-Foot Self-Storage Facility in Michigan
Marcus & Millichap, Marcus & Millichap Arranges the Sale of Two Self-Storage Facilities in Oklahoma
RE Journals, Colliers Chicago Arranges Sale of Self Storage Facility in Posen, IL
PR Newswire, StorageMart Opens New Location in Fishers, Indiana
Business Wire, SmartStop Self Storage REIT Inc. Acquires Self Storage Facility in the Denver Metropolitan Area
Marcus & Millichap, Marcus & Millichap Arranges the Sale of a 94,385-Square Foot Self-Storage Facility
Multi-Housing News, SmartStop Expands Denver Self Storage Footprint
The Real Deal, Extra Space Storage Acquires Margate Warehouse for $22M

Previous Sources:
Globe Newswire, InSite Property Group Acquires Extra Space-Managed Store in Hawaii
Globe Newswire, InSite Property Group Acquires Gibsonton Storage in Riverview, FL
Guru Focus, U-Haul of Research Triangle Now Open on Sedwick Road in Durham
Marcus & Millichap, $25 Million Long Island Self-Storage Property Sale Brokered by Marcus & Millichap
Marcus & Millichap, Marcus & Millichap Arranges the Sale of Interstate Mini Storage
PR.com, Argus Broker Affiliates Announce Sale of Indiana Self Storage Facility
Property Funds World, Heitman Expands Space Station Self-Storage Platform
PRWeb, Apple Self Storage Acquires Third Location in Thunder Bay
The Business Desk, Self Storage Firm Swoops for Rival
Yahoo Finance, Simply Self Storage Accelerates Portfolio Growth with Strategic Acquisition of Eight Texas Properties

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