Self-Storage Real Estate Acquisitions and Sales: May 2024

May 23, 2024

10 Min Read

Update 5/23/24 – 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 May 2024.

The six-property All Secure Storage portfolio in Saskatchewan, Canada, sold to MakeSpace Storage, which operates more than 40 locations in Alberta, British Columbia, Manitoba, Ontario and Saskatchewan. Together, the facilities in Moose Jaw, Weyburn and Yorkton comprise 98,000 rentable square feet in 640 units. 

Cherry Ave Self Storage in Fresno, California, sold for $8.2 million to PSC Fresno LLC, an affiliate of Pratt Street Capital LLC. The 5.7-acre property at 1844 S. Cherry Ave. contains a three-story building and 12 single-story structures offering 1,085 units. The buyer and the seller were represented by Brian Somoza, managing director for JLL Capital Markets, a global provider of capital solutions for real estate investors.

Lock Stock Self Storage acquired container-storage facilities Craven Arms Self Storage and Ludlow Self Storage in Craven Arms and Ludlow, England, respectively. Craven Arms on Hopesay Hill Road, which opened in 2013, contains 75 units. The Ludlow site, opened in 2019, offers 162 units and has room for expansion. The properties were originally developed by Mark Carter, a former London-based executive for Anheuser-Busch. Founded in 1999 and based in Denbigh, Wales, Lock Stock operates 30 facilities containing 4,600 units.

Moove In Self Storage, which operates more than 80 locations in nine states, acquired Delaware Beach Storage Center in Lewes, Delaware, and Highlands Self Storage in Franklin, New Jersey. The 2.45-acre property at 32244 Nassau Road in Lewes offers 611 climate-controlled units. The 3.4-acre property at 178 N. Church Road in Franklin contains 508 spaces and 31 wine-storage units.

The two-property St. Marys Self Storage portfolio in St. Marys, Georgia, sold to Spartan Investment Group LLC, a self-storage development, property-management and real estate firm that operates the FreeUp Storage brand. The facilities at 328 Douglas Drive and 401 Marianna Drive offer climate-controlled, drive-up and vehicle storage. The buyer and the seller were represented in the transaction by Michael Morrison, a broker with Midcoast Properties Inc., a commercial real estate firm focused on self-storage in Alabama, the Carolinas and Georgia.

Walton Way Storage in Augusta, Georgia, sold to YourWay Storage. The 5.2-acre property at 3637 Walton Way Extension offers 55,895 square feet in 498 climate-controlled units. It also has seven commercial units for rent. The deal was brokered by Meir Perlmuter, investment-sales broker and founder of Grandstone Investment Sales, a Columbus, Ohio-based company that specializes in self-storage real estate. Fellow broker Brian Brockman assisted.

West Gardiner Self Storage in West Gardiner, Maine, sold to 17 Town House Road LLC for $2.1 million. The 7.5-acre site at 17 Town House Road contains five buildings comprising 26,000 square feet. The seller was represented by Brandon Mitchell, broker for Malone Commercial Brokers, a Portland, Maine-based commercial real estate agency. The buyer was represented by Jordan Stolt, owner/broker for Summit Real Estate, an Augusta, Maine-based real estate company.

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:  

  • Lakeside Boat & RV Storage in Lake Havasu City, Arizona, sold for $5.3 million. The 2.8-acre property at 930 Port Drive offers 64,040 rentable square feet in 128 units. The seller was represented in the transaction by Jeff Gorden, president of The Gorden Cos.

  • Sedona Self Storage in Sedona, Arizona, sold for $1.1 million. The property at 2015 Yavapai Drive comprises 9,062 square feet in 93 units. The seller was represented by Gorden.

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

  • Affordable Mini Storage in Refugio, Texas, sold to Kingcrest Communities. The 2.5-acre site at 908 Bayou Road offers 14,700 square feet in 126 units. The buyer and the seller were represented by investment specialist Jon Danklefs.

  • Affordable Storage in Alvin, Texas, sold to a Nevada-based LLC. The 3-acre property at 1400 S. Durant St. offers 61,960 square feet and has been rebranded as Extra Space Storage. The buyer and the seller were represented by Dave Knobler, senior managing director of investments, and Charles "Chico" LeClaire, executive managing director of investments for The LeClaire-Schlosser Group of M&M.

  • Lorena Mini Storage in Lorena, Texas, sold to Ideal Self Storage, which operates 30 properties in the state. The facility at 1530 N. Houston St. comprises 22,794 rentable square feet. The buyer and the seller were represented by Danny Cunningham and Brandon Karr. 

  • Ready Now Storage, which operates five self-storage properties in Texas, acquired U-Lock-It Mini Storage in Cleburne, Texas. The facility at 3233 N. Main St. comprises 27,120 rentable square feet. The buyer and the seller were represented by Cunningham and Karr. 

  • Windmill Mini Storage in Taylor, Texas, sold to a limited-liability company. The 2.2-acre site at 204 Commercial Drive offers 33,600 square feet in 256 units. The buyer and the seller were represented by Danklefs and Arol Horkavy.

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

  • Fairborn Self Storage in Fairborn, Ohio, sold to Mini Mall Storage, which operates 141 facilities nationwide. The facility at 2088 Beaver Valley Road comprises 65,514 square feet in 588 units. The seller was represented by Gabriel Coe, Nathan Coe and Brett R. Hatcher. 

  • The five-property StorageBlue portfolio in New Jersey sold to Prime Group Holdings, which operates the Prime Storage brand. The facilities are in Garfield, Hoboken, Jersey City, Newark and Union City. The seller was represented by Coe, Coe and Hatcher. They were assisted by fellow broker John Horowitz. 


Insider Media, Storage Giant Takes Over Border Sites 
CityBiz, Marcus & Millichap Facilitates the Sale of a 27,120 Rentable-Square Foot Self-Storage Facility in Cleburne 
CityBiz, Marcus & Millichap Arranges the Sale of a 22,794 Rentable-Square Foot Self-Storage Facility 
JLL, Fresno Self-Storage Facility Trades for $8.2 Million 
Access Wire, Make Space Storage Enhances Storage Offerings in Saskatchewan with the Acquisition of Six Self-Storage Properties, The Gorden Companies Announces Sale of Lakeside Boat & RV Storage in Lake Havasu City, AZ 
Mainebiz, Quick Turnaround: Year-Old West Gardiner Self-Storage Site Sells For $2.1M
REBusiness Online, Marcus & Millichap Brokers Sale of 126-Unit Self-Storage Facility in Refugio, Texas
REBusiness Online, Marcus & Millichap Brokers Sale of 256-Unit Self-Storage Facility in Taylor, Texas 

Posted 5/9/24 – 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 May 2024. 

A four-property self-storage portfolio in Fort Morgan, Colorado, was sold to a national operator for $4.8 million. The acquisition included A-1 Storage at 1127 E. Burlington Ave., Morgan County Storage at 17669 County Road 20 and unnamed self-storage facilities at 318 E. Railroad Ave. and 16308 County Road 19. Together, the properties comprise 88,302 square feet in 503 units. The sale also included developable land on County Road 19. The seller was represented by Jackson Shanley, associate, and Ben Tracy, senior associate of Matthews Real Estate Investment Services, a commercial real estate firm. 

Assured Storage in Decatur, Alabama, was sold to U-Haul International Inc. The 2-acre property at 2214 Beltline Road S.W. offers 246 units. Established in 1945, U-Haul owns and manages 83.3 million square feet of self-storage space nationwide. 

Shurgard Self Storage Europe SARL, the European affiliate of U.S.-based real estate investment trust (REIT) Public Storage Inc., purchased Box à la Carte in Combs-la-Ville, Sénart, France, for €9.3 million. The building at 9 Rue Pierre et Marie Curie comprises 44,132 square feet in 570 units. Shurgard operates 282 self-storage properties comprising 1.4 million net rentable square meters in Belgium, Denmark, France, Germany, The Netherlands, Sweden and the United Kingdom. 

A CubeSmart Self Storage facility in Providence, Rhode Island, was sold to Prime Group Holdings, which operates 358 storage locations nationwide. The three-story building at 80 Dupont Drive comprises 65,642 square feet in 749 units. The sale was brokered by Yorktown, Virginia-based The Storage Acquisition Group, which is an affiliate of Mid-Atlantic Commercial Real Estate. Prime Group now operates eight facilities in Providence, comprising more than 700,000 square feet.  

Four Life Storage properties in Brooklyn and Queens, New York, were sold to The Carlyle Group for $110.4 million. The facilities at 145 18th St., 651 Utica Ave. and 1690 E. New York Ave. in Brooklyn, and 87-16 121st St. in Queens range from 35,589 to 154,782 square feet. The deal was brokered by Mike Mele, vice chairman for Cushman & Wakefield, a provider of real estate services including consulting and appraisal, debt and equity financing, and sales and acquisitions. Carlyle is a global investment firm with $425 billion of assets under management including $20 billion in real estate. The Life Storage brand, with more than 1,100 self-storage facilities in 37 states, is owned by REIT Extra Space Storage. 

Stop-N-Go Storage in Jacksonville, Florida, was sold to VanWest Partners, a Denver-based investment firm that operates the ClearHome Self Storage brand. The facility at 6664 Firestone Road comprises 39,570 square feet, with plans to add 28,800 square feet in 176 units. VanWest specializes in residential and commercial real estate acquisitions, management and sales, and operates nearly 40 self-storage facilities nationwide. 

Moove In Self Storage acquired Storage World in Mickleton, New Jersey. The facility at 350 Swedesboro Ave. sits on 11 acres. It offers 454 climate-controlled and drive-up units. Moove In owns more than 80 locations in nine Midwest states. 

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

  • Affordable Mini Storage in Refugio, Texas, was sold to Kingcrest Communities. The 2.55-acre property at 908 Bayou St. offers 126 units. The seller was represented by Jon Danklefs, investment specialist. 

  • A CubeSmart-branded facility in Kenosha, Wisconsin, was sold to Inland Real Estate Acquisitions LLC. The two-story building comprises 90,900 square feet in 900 climate-controlled units. The seller was represented by Adam Schlosser, senior managing director, Charles “Chico” LeClaire, executive managing director, and Jack Sullivan, investment associate. 

  • Lakeridge Self Storage in Midlothian, Texas, was sold to an Austin, Texas-based investment group. The property at 5191 U.S. Highway 67 comprises 59,517 square feet in 564 units. The buyer and the seller were represented by Danny Cunningham, senior vice president of investments, and Brandon Karr, senior managing director of investments. 

  • StoreEase in Middleburg, Florida, was sold to U-Haul International. The facility at 2752 Blanding Blvd. comprises 63,280 square feet in 534 units. The buyer and the seller were represented by Ian Lindahl, investment associate, and Schlosser.

The following sales were brokered by The Hatcher Coe Group of M&M:

  • Goldenrod Self Storage at 1710 N. Goldenrod Road in Orlando, Florida, comprises 72,975 square feet in 686 units. 

  • Hideaway Self Storage at 3579 Blue Ridge Blvd. in Blue Ridge, Virginia, comprises 31,600 square feet in 139 units. It also offers 21 commercial offices for rent.

Commercial Observer, Carlyle Group Picks Up Four Self-Storage Properties in Brooklyn and Queens for $110M 
Connect CRE, JV Secures $18M Loan for Hialeah Self-Storage Build 
EIN News, The Storage Acquisition Group Facilitates Acquisition of True Storage in Providence, RI 
Jacksonville Daily Record, U-Haul Moving & Storage at Black Creek opens in Clay County 
PR Newswire, Investment Firm VanWest Partners Acquires Ninth Self Storage Facility in Florida 
PR Newswire, U-Haul Acquires 3rd Self-Storage Center in Decatur to Meet Demand 
REBusiness Online, Marcus & Millichap Brokers Sale of 564-Unit Self-Storage Facility in Midlothian, Texas 

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