Self-Storage Real Estate Acquisitions and Sales: June 2024

June 18, 2024

8 Min Read

Posted 6/18/24 – 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 2024.

Affordable Storage in Clute, Texas, sold to Miami-based LAGO Properties LLC. The facility at 508 E. Main St. comprises 46,785 square feet in 440 units. Bill Bellomy, Logan Foster, Hugh Horne and Michael Johnson of Versal represented Fab Legacy LLC, the New Hampshire-based seller. Based in Austin, Texas, and Los Angeles, Versal is a commercial real estate firm focused on the self-storage industry.

Anna Self Storage in Anna, Texas, sold to HPI Real Estate, a Texas-based investment firm. The facility at 114 Bowden St. comprises 103,000 square feet in 840 climate-controlled units. It’s managed by self-storage real estate investment trust (REIT) Extra Space Storage Inc., under its Life Storage brand name.

Three Extra Space Storage properties in Portland, Oregon, and Vancouver, Washington, sold to Spartan Investment Group. The facilities at 989 N.E. 61st Ave. and 710 E. Belmont St. in Portland and 2625 S.E. 165th Ave. in Vancouver range from 61,550 to 88,386 square feet with a combined 2,410 units. Founded in 2014 and based in Golden, Colorado, Spartan is a privately held real estate investment firm with nearly 60 self-storage facilities and $500 million of assets under management. Headquartered in Salt Lake City, Extra Space owns or operates more than 3,651 self-storage facilities nationwide.

Fountain Mini Storage in Columbus, Georgia, sold to Checketts Development, a Salt Lake City-based real estate acquisition and development company with more than $172 million in assets. Sitting on a 2.7-acre lot at 1711 Fountain Court, the property contains multiple buildings comprising 49,280 square feet in 286 units. It was rebranded as Storage Express. The seller was represented by Sauls Storage Group, a Carrollton, Georgia-based company specializing in real estate construction, development, investment and sales.

Madison Capital Group, which owns the Go Store It Self Storage brand, sold a facility in Orlando, Florida. The property at 8308 Osceola Polk Line Road was part of a Delaware Statutory Trust. It comprises 54,030 square feet in 611 units. Founded in 2014, Go Store It operates more than 100 locations in 17 states.

Madison Capital also purchased an unnamed, three-property self-storage portfolio in Hill County, Texas. Together, the facilities comprise more than 245,000 square feet in nearly 1,500 units. Based in Charlotte, North Carolina, Madison Capital is a real estate investment company with multiple subsidiaries including Blue Gate Boat & RV Storage, Go Store It, Madison Commercial and others.

Mobile Storage in Mobile, Alabama, sold to an undisclosed buyer. The 4.6-acre property at 2580 Schillinger Road S. offers 61,325 square feet in 540 climate-controlled units. The seller, Mississippi-based Anderson Construction, was represented in the transaction by Frank DeSalvo and David Perlleshi, senior directors for Franklin Street, a provider of real estate brokerage, insurance, and property and project management.

People’s Choice Storage in Westerville, Ohio, sold to Passive Storage Investing, which provides investment opportunities in commercial real estate, including self-storage. The eight-building property comprises 99,331 square feet in more than 600 units and 130 vehicle-storage spaces.

Southport Self Storage in West Sacramento, California, sold to goHomePort, a real estate investment firm. The property at 3080 Promenade St. offers 13 acres of open and enclosed RV storage, enclosed oversized garages and traditional self-storage units. Founded in 2020, goHomePort operates 11 boat- and RV-storage facilities in Arizona, California, Colorado, Mississippi and Missouri.

Village Self Storage in Ruther Glen, Virginia, sold to Moove In Self Storage, which operates more than 80 locations in nine states. The 13-building facility sits on a 4.4-acre site at 18004 Center Drive. It offers 61,690 square feet of storage in 501 units.

An unnamed, newly constructed self-storage facility in Woonsocket, Rhode Island, sold for $6.6 million to Prime Storage Woonsocket LLC, which is managed by Prime Storage Fund III GP LLC, a fund managed by Prime Group Holdings. The 2-acre property at 777 Providence St., which used to be a baseball field, contains a multi-story building comprising 88,900 square feet. The facility was sold by the majority owner, 777 Providence Street LLC, and minority owners JB Woonsocket LLC, Bourne Acquisition LLC and 2527 LLC. Headquartered in Saratoga Springs, New York, Prime Group operates the Prime Self Storage brand and has more than $5.7 billion in assets under management in 28 states. Its portfolio of 400-plus facilities comprises more than 28 million rentable square feet.

The following sales were brokered by affiliates of Argus Self Storage Advisors, a Denver-based network of real estate brokers who specialize in storage properties:

  • Clark Storage sold three self-storage properties in Shenandoah, Iowa, to a local investment group. Together, the facilities at 507 N. Fremont St., 1109 S.W. 8th Ave. and 4168 Airport Road comprise 38,760 square feet in 250 units. The buyer and the seller were represented by Tom Flannigan, Nathan Gottlieb, Matt Haugen and Alex Ihrke. Clark operates four locations in Iowa and Nebraska.

  • Lucky 7 Storage in Cambridge, Minnesota, sold to a private investment group. The facility at 5626 Highway 95 N.W. comprises 19,326 square feet in 97 units, along with 32 vehicle-storage spaces and 12 storage containers. The buyer and the seller were represented by Flannigan, Gottlieb, Haugen and Ihrke.

The following sales were brokered by Marcus & Millichap (M&M), a commercial real estate investment firm with offices throughout Canada and the United States:

  • Leeville Pike Storage in Lebanon, Tennessee, sits on a 2.6-acre site at 6000 Leeville Pike. It comprises 29,600 square feet in 182 units. The buyer and the seller were represented by Andrew Beeckman, investment specialist.

  • McKinley Penn Self-Lock Storage in Osceola, Indiana, sold to a private limited-liability company. The facility at 10386 McKinley Highway comprises 33,380 square feet in 164 units. The buyer and the seller were represented by Sean M. Delaney, senior managing director. Fellow broker Josh Caruana assisted.

  • Prosper Self Storage in McKinney, Texas, sold to REIT Public Storage Inc. The facility at 5903 N. Custer Road comprises 72,147 square feet. Danny Cunningham and Brandon Karr represented the buyer and the seller, a Dallas-based investor.

  • S&D Storage sold its two-property portfolio in Point Blank, Texas. The facilities at 470 Boat Launch Road and 10010 U.S. Highway 190 are on a combined 7.6 acres. They contain nine single-story buildings comprising 48,871 total rentable square feet in 200 climate-controlled and drive-up units as well as 29 vehicle-storage spaces. The buyer and the seller were represented by Dave Knobler, senior managing director, and Charles "Chico" LeClaire, executive managing director of The LeClaire-Schlosser Group.

  • Self Storage of Beach Park in Beach Park, Illinois, sold to Extra Space Storage. The three-building facility at 12771 W. Wadsworth Road comprises 57,050 square feet in 447 units. The property will be rebranded as Storage Express. The buyer and the seller were represented by Delaney.

  • Storage King USA in Mesquite, Texas, sold to SecurCare Self Storage, an affiliate of National Storage Affiliates Trust, a real estate investment trust comprised of 12 self-storage brands that operate more than 1,000 locations across the United States. The facility at 4809 N. Belt Line Road comprises 73,990 square feet. SecurCare operates more than 275 facilities nationwide. Karr represented the buyer and the seller.

The Hatcher Coe Group of M&M brokered the following transactions:

  • Access Storage at 8041 S. Padre Island Drive in Corpus Christi, Texas, comprises 83,223 square feet in 626 units and outdoor vehicle storage. The seller was represented by Gabriel Coe, Nathan Coe, Brett R. Hatcher, Brian Kelly and Luke Sullivan. They were assisted by fellow broker Tim Speck.

  • Ruckersville Self Storage at 8060 Seminole Trail in Ruckersville, Virginia, comprises 132,050 square feet in 923 units. The seller was represented by Coe, Coe and Hatcher.


Citybiz, Madison Capital Group Affiliate, Go Store It Self Storage, Expands Texas Footprint with Acquisition of Hill County, Texas Portfolio
FranklinStreet, Franklin Street Arranges Sale of 61K-SF Climate-Controlled Self-Storage Facility in Alabama, Passive Storage Investing Celebrates Acquisition of Westerville, OH Project
PR Newswire, goHomePort Expands Portfolio of RV and Boat Storage Facilities
Providence Business News, Newly Constructed Storage Facility Site in Woonsocket Sells For $6.6M
REBusiness Online, HPI Real Estate Buys 840-Unit Self-Storage Facility in Anna, Texas
REBusiness Online, Marcus & Millichap Brokers Sale of 182-Unit Self-Storage Facility in Metro Nashville
REBusiness Online, Marcus & Millichap Brokers Sale of 626-Unit Self-Storage Facility in Corpus Christi, Texas
RE Journals, Versal Negotiates Sale of 440-Unit Self-Storage Facility in Texas

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