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December 1, 2006

2 Min Read
Real Estate

If you have a sale, grand opening, groundbreaking or other real estate transaction you would like listed here, e-mail [email protected]

CB Richard Ellis Self Storage Advisory Group

associates Ryan Howse and Nate Hunterton represented the buyer in the acquisition of StorageOne for $4.3 million in Las Vegas. The facility has 491 units with 45,650 rentable square feet. Occupancy was 90 percent at closing. The buyer used 1031 exchange money from the sale of Safeguard III Mini Storage. Howse and Hunterton primarily represent sellers of self-storage properties in the West. Info: www.cbre.com/ssag-lasvegas

Michael A. Mele and Scott Rutherford of The Mele Storage Group announce the sale of Rodeo Stor-N-More Self Storage in Kissimmee, Fla. The 64,825-square-foot facility sold for $5.35 million and closed in August. The property was built in 2000 and sits on approximately 5.56 acres with excellent frontage on a major thoroughfare.

Mele also sold Storage Zone I & II, a two-property portfolio featuring 822 units and 97,887 net-rentable square feet. The portfolio closed at $3.7 million with an 8.55 percent cap rate.

The Mele Storage Group is with Marcus & Millichap, Tampa. The group has sold more than 250 million dollars in self-storage facilities to date. Info: 813.287.9777.

Robert Schoff and Travis Morrow announce the grand opening of National RV Central, featuring indoor storage (with both valet and self-service storage areas), an automatic washing station, maintenance, dump station, detail services and supplies. National RV Central will cater to the RV owner looking for convenient and secure storage with full ancillary services. The facility is designed to accommodate boats and other storage uses, with private mini-storage lockers available for smaller items. Other features include on-site manager, assistant manager and two full-time yard managers. Security is provided through digitally recorded video, individual door alarms, fire sensors and controlled access. The retail office provides amenities such as phone, fax, Internet access, vending, music and rest rooms.

Dallas-based BMC Capital originated a $495,000 loan for the refinance of Townley Square, a 23-unit apartment complex in Phoenix. BMC loan officer Mike Callis originated the 10-year fixed-rate loan. The Missouri owner received a 64 percent loan-to-value mortgage with a 30-year amortization. BMC Capital is a lender for small-balance multifamily and commercial loans in the Southwest and anticipates originating at least 50 such transactions in 2006. Info: 214.526.7178; [email protected], www.bmccapital.com

Florida-based Sentry Self Storage, which provides management services to independent owners and investors, has been awarded management contracts for a seven-property portfolio in Texas. The contract includes four properties in Houston and three in San Antonio. The portfolio comprises 505,000 square feet in 4,665 units. Info: 214.446.6688, www.sentry-selfstorage.com

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