Self-storage properties are constantly changing hands, and Inside Self-Storage is regularly notified of these market transactions. Many are covered in detail on the ISS website and available for viewing on the “Real Estate” topics page. Following are additional acquisitions and sales that weren’t covered.
The three-property A Storage Closet portfolio in Ada, Okla., was sold to an out-of-state private investor. The properties comprise 42,943 rentable square feet of storage space. The seller was represented in the transaction by Jared Jones, director of Tulsa, Okla.-based Porthaven Partners, who’s the broker affiliate in Oklahoma for the Argus Self Storage Sales Network.
A-Secured RV & Vehicle Storage in Gilbert, Ariz., was sold for $5.8 million. The property at 105 E. Baseline Road spans more than 11 acres and contains 500-plus vehicle-storage units. The sale involved a 1031 exchange, according to Argus, which brokered the deal. The seller was represented in the transaction by Jeff Gorden, vice president of Eagle Commercial Realty Services, who’s the Argus broker affiliate in Arizona.
A-Storage Inn in Fort Worth, Texas, was sold to Bargain Storage. The 2.87-acre property at 7812 Camp Bowie W. comprises 51,040 square feet of storage in 362 units. The seller was represented in the transaction by Richard D. Minker, senior vice president, and Chad Snyder, senior associate, for Colliers International, and who are both Argus broker affiliates.
AC Self Storage in Bossier City, La., was sold to an out-of-state investor for $2.3 million. The property at 2205 Barksdale Blvd. comprises 59,360 rentable square feet in 402 units and eight vehicle-parking spaces. The seller was represented in the transaction by Shannon Barnes, Bill Barnhill and Stuart P. LaGroue Sr. of Omega Properties Inc. They’re all Argus broker affiliates for the Gulf Coast.
The two-property Apache Junction Self-Storage portfolio in Apache Junction, Ariz., was sold to a private investor. The properties are just over a mile from one another at 1678 Superstition Blvd. and 1735 W. Apache Trail. The Superstition facility sits on 4.8 acres and comprises 60,442 rentable square feet of storage space in 398 units. It also contains 13 offices and 40 vehicle-parking spaces. The Apache Trail site comprises 26,522 rentable square feet of storage space in 210 units. It also contains seven office spaces. Both sites were built in 1997.
The seller, also a private investor, was represented in the transaction by Devin Beasley, Luke Elliott, Daniel Kuchugurny and Michael A. Mele, investment specialists for real estate firm Marcus & Millichap (M&M). Kuchugurny and fellow broker Edward J. Nelson represented the buyer. Brian Tranetzki also assisted.
The eight-property Attic Self Storage portfolio in Metro Atlanta was sold. The properties comprise more than 652,000 square feet of storage space in 3,428 units. The seller was represented in the transaction by David Spencer of Keller Williams and an affiliate agent for The Storage Acquisition Group (TSAG), a division of Mid-Atlantic Commercial Realty. He was assisted by TSAG Director Monty Spencer.
Clute Affordable Storage in Clute, Texas, was sold to a limited-liability company (LLC). The property at 508 E. Main St. contains 452 units. The buyer was represented in the transaction by M&M investment specialists Evan Griffith and Tony Pepdjonovic, while the seller, a partnership, was represented by M&M broker Nicholas Ling.
FM 439 Self Storage in Killeen, Texas, was sold. The 3.5-acre property at 16969 FM-439 was built in 1998. It comprises 21,050 square feet of storage space in 121 units and 10 vehicle-storage spaces. The seller was represented in the transaction by Minker and Snyder.
Lost Valley Mini Storage in Bandera, Texas, was sold. The property at 3383 Highway 16 S. sits on 4.6 acres and was built in phases. It comprises 38,475 rentable square feet of storage space and includes 1.5 acres for expansion. The seller, a private investor, was represented in the transaction by Jon Danklefs, senior associate in the San Antonio office of M&M.
The 14-property Planet Self Storage portfolio was sold. Together, the facilities in Connecticut, Massachusetts, New Jersey and Pennsylvania comprise more than 635,000 square feet of storage space in 6,272 units. The seller was represented in the transaction by Bill Sitar Jr., vice president of Sitar Realty Co. and a TSAG affiliate agent. He was assisted by Spencer.
Spare Room Storage in Springfield, Tenn., was sold to an out-of-state investor. Formerly the site of the Springfield Drive-In Movie Theatre, the property at 3356 Highway 41 S. sits on nearly 12 acres. It comprises 37,400 rentable square feet of storage space and has room for expansion. The sellers, Ross and Donna Swann, were represented in the transaction by James Ashley Compton, national director of The Colliers International Self Storage Group.
Stockton Self Storage in Stockton, Calif., was sold to an out-of-state private investor. The property at 1880 W. Charter Way sits on 6.6 acres and comprises 53,425 square feet of space in 409 units. It also contains 225 covered vehicle-parking spaces. The buyer and the seller, a private investor, were represented in the transaction by Beasley, Elliott, Kuchugurny and Mele. Fellow M&M broker James Markel assisted.
Stor Rite Self Storage in Vancouver, Wash., was sold to a Pacific Northwest-based self-storage investor for more than its initial list price of $2.7 million. Built in 2006, the property at 5515 N.E. 121 Ave. sits on less than an acre and comprises 23,515 square feet of storage space in 209 units. The buyer and the seller, an LLC, were represented in the transaction by Christopher R. Secreto, an M&M investment specialist in Seattle.
Susquehanna Valley Self Storage in Lewisberry, Pa., was sold for $1.87 million to a private investor using a 1031 exchange, according to Investment Real Estate LLC (IRE), the firm that brokered the transaction. The property at 625 Lowther Road sits on more than 2.5 acres and was built in two phases in 1980 and 1985. It includes five buildings containing more than 160 drive-up storage units, two apartments and a rental office.
Van’s Storage in Fountain Hills, Ariz., was sold in an off-market trade to an affiliate of Irvine, Calif-based Guardian Storage Centers LLC, a participating regional operator for National Storage Affiliates Trust, a real estate investment trust specializing in self-storage. Built in 1978, the property at 16701 E. Laser Drive sits on more than 5 acres. It contains more than 315 drive-up storage units, 200-plus vehicle-storage parking spaces and a cell tower. The seller, a private party, was represented in the transaction by Gorden.
An industrial building at 4515 Eighth Ave. N.W. in Seattle was sold for $2.57 million to 4514 8th Ave NW LLC, which plans to convert the structure to self-storage. The buyer is associated with the Rudd Co. Inc. and Alan M. Park. Based in Seattle, Rudd is a family-owned business that manufactures professional coatings. The seller, Skills Inc., acquired the property in 1988 for $205,000.
Tucson Steam Pump Self Storage Partners LLC purchased 70,036 square feet of land at Steam Pump Village in Oro Valley, Ariz., for $525,000 to build a storage facility. It was represented in the transaction by Denise Nunez, senior vice president of NAI Horizon, a Phoenix-based commercial real estate brokerage and management firm. The seller, Evergreen-Steam Pump LLC, was represented by Dave Hammack and Brenna Lacey, broker with Volk Co., a commercial real estate firm.
Ziff Properties Inc. has sold its self-storage facility in Rock Hill, S.C., for $11 million. The property on Big Oak Lane comprises 87,350 square feet of storage space and includes room for expansion.
Argus is a Denver-based network of real estate brokers who specialize in storage properties. Formed in 1994, the company has 36 broker affiliates covering nearly 40 markets.
Colliers is a global commercial real estate services firm employing more than 16,000 professionals who operate out of 554 offices in 66 countries. The company offers a variety of services for investors, business owners and developers.
Since its inception in 1998, IRE has provided brokerage, construction, development and management services to self-storage owners and investors.
Founded in 1971, M&M is a commercial-property investment firm with more than 1,500 investment professionals in offices throughout Canada and the United States.
A member of NAI Global, NAI Horizon is a managed network of independently owned commercial real estate brokerage firms. It assists corporations with negotiating leases, sales, business brokerage, investments, relocation, site selection and development.
Based in Yorktown, Va., TSAG represents a private real estate investment fund that's solely focused on acquiring self-storage facilities. Sellers deal directly with the purchaser with no intermediaries and pay no sales commission.
Based in Mount Pleasant, S.C., Ziff specializes in the acquisition, development and management of commercial properties in the Southeast. Founded by Stephen Ziff in 1992 and Tim Walter, its portfolio comprises 3 million square feet of space and includes shopping centers, office buildings and self-storage facilities.
- Commercial Realty Executives: Phoenix-Area Self-Storage Assets Find Out-of-State Owner
- Daily Journal of Commerce: $3M Sale for Ballard Industrial Building
- Digital Journal : The Storage Acquisition Group Announces the Sale of 14 Facility Planet Self Storage Portfolio
- Digital Journal: The Storage Acquisition Group Announces the Sale of 8 Facility Attic Self Storage Portfolio
- PR.com: Argus Broker Affiliate Sells Arizona Self Storage Facility
- Rebusiness Online: Marcus & Millichap Brokers Sale of 452-Unit Self-Storage Facility in Clute, Texas
- Tucson.com: Tucson Real Estate: Industrial Manufacturer Expands