Self-Storage

HPI Horne Developing 979-Unit Self-Storage Facility in San Antonio

by Taylor Williams May 22, 2018

SAN ANTONIO — HPI Horne Storage, a joint venture between Austin-based HPI Real Estate Services & Investments and self-storage industry veteran Hugh Horne, is developing a 979-unit facility located at 10126 Potranco Road in San Antonio. The property will total 134,000 square feet of net rentable space and all its units are climate-controlled. The joint venture will own and operate the facility and a publicly traded self-storage REIT will manage it. Completion is slated for April 2019. SBS Construction is serving as general contractor and Arch-Con Architecture is providing design services. Elsewhere in San Antonio, the joint venture has another development site under contract at 12727 Vista Del Norte and is set to close on a third site near The Pearl in June.

May 22, 2018

Acquisitions Industrial Self-Storage Texas

Karr Self-Storage Arranges Sale of 297-Unit Facility in South Dallas

by Taylor Williams May 15, 2018

DALLAS — Karr Self-Storage, a division of Marcus & Millichap, has arranged the sale of Oak Cliff Bargain Storage, a 297-unit facility in South Dallas. The property was built in 1973 and underwent renovations in 2015. Features include an on-site manager’s residence, modern office and showroom, perimeter fencing, gated entry and 16 surveillance cameras. Brandon Karr and Danny Cunningham of Karr Self-Storage represented the seller, a national operator headquartered in the Pacific Northwest. The duo also procured the buyer, a private investor.

May 15, 2018

Industrial Loans Michigan Midwest Self-Storage

KeyBank Provides $18.8M CMBS Loan for Refinancing of Self-Storage Portfolio in Michigan

by Kristin Harlow May 15, 2018

MICHIGAN — KeyBank Real Estate Capital has provided an $18.8 million CMBS loan for the refinancing of an eight-property self-storage portfolio in Michigan. Known as Berger U-Store Portfolio, the assets total 3,176 units and 431,755 square feet. Dennis Bernard and Kevin Kovachevich of Bernard Financial arranged the 10-year loan, which will be used to refinance existing debt on seven of the properties and acquire the remaining property.

May 15, 2018

Acquisitions Healthcare Illinois Midwest Multifamily Self-Storage Seniors Housing Student Housing Top Stories

Colliers to Acquire 75 Percent Stake in Harrison Street for $450M

by Taylor Williams May 14, 2018

TORONTO AND CHICAGO — In an effort to expand its global investment management platform, Colliers International Group Inc. (NASDAQ: CIGI) has agreed to acquire 75 percent of Harrison Street Real Estate Capital LLC for $450 million. Under the terms of the transaction, which is expected to close during the third quarter, the senior management team of Harrison Street will hold the remaining 25 percent of equity. An additional $100 million will be payable to Harrison Street in 2022 based on the achievement certain performance targets. Chicago-based Harrison Street currently manages about $14.6 billion worth of assets, primarily in the seniors housing, student housing, medical office and self-storage sectors. The company’s senior management team will continue to handle its day-to-day operations. No changes to the company name have been announced at this time. According to CEO Christopher Merrill, Harrison Street was seeking an outside investment partner to assist with its global positioning strategy. Harrison Street was drawn to the depth of Colliers’ relationships on a global scale, as well as the brokerage firm’s decentralized management style and track record in investment sales. For its part, Toronto-based Colliers was in the market for a new platform that would enable global investment growth. …

May 14, 2018

Acquisitions Arizona Industrial Self-Storage Western

NAI Horizon Negotiates $10.8M Sale of Self-Storage Facility in Metro Phoenix

by Amy Works May 10, 2018

BUCKEYE, ARIZ. — NAI Horizon has arranged the sale of a self-storage facility, located at 24901 W. Yuma Road in Buckeye, a western suburb of Phoenix. A California-based buyer acquired the property from Storage American DBA Store-All America RV and Self-Storage for $10.8 million, or $100.39 per square foot. Situated on 9.1 acres, the 107,130-square-foot facility features 638 drive-up self-storage units and 240 outdoor RV parking spaces. Additionally, the sale included a U-Haul moving truck business. Denise Nunez of NAI Horizon represented the buyer and seller in the transaction.

May 10, 2018

Acquisitions Industrial Self-Storage Texas

LeClaire Group Brokers Sale of 2,627-Unit Self-Storage Portfolio in Southeast Texas

by Taylor Williams May 4, 2018

BEAUMONT, TEXAS — The LeClaire Group, a division of Marcus & Millichap, has brokered the sale of a portfolio of Lisotta’s Self Storage properties in southeast Texas. The seven facilities were constructed in the 1970s and 1980s and total 389,386 net rentable square feet across 2,627 units. Two of the properties are located in Beaumont and two are located in Nederland, with the other facilities located in Groves, Bridge City and Orange. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, an individual/personal trust. An undisclosed limited liability company purchased the portfolio.

May 4, 2018

Custer-Storage-&-Business-Center-McKinney-Texas

Acquisitions Industrial Self-Storage Texas

Strategic Storage Growth Trust Acquires 730-Unit Facility in Metro Dallas

by Taylor Williams May 4, 2018

MCKINNEY, TEXAS — Strategic Growth Storage Trust Inc., a REIT sponsored by California-based SmartStop Asset Management LLC, has acquired Custer Storage & Business Center, a 730-unit self-storage facility in the northern Dallas metro of McKinney. Built in 2015, the 95,000-square-foot property includes 10 single-story buildings with approximately 230 drive-up units and 500 first-floor units that are climate-controlled. The seller and sales price were not disclosed. With this acquisition, Strategic Growth Storage Trust’s portfolio consists of 26 self-storage properties totaling roughly 17,300 units and 1.9 million net rentable square feet across 10 states.

May 4, 2018

Acquisitions Georgia Industrial Self-Storage Southeast

Marcus & Millichap Arranges $19.4M Sale of Self-Storage Property in Metro Atlanta

by Camren Skelton May 4, 2018

ROSWELL, GA. — Marcus & Millichap has arranged the $19.4 million sale of Space Shop Self Storage, a 1,174-unit self-storage property in Roswell, located roughly 23 miles north of Atlanta. Stacey Gorman of Marcus & Millichap arranged the transaction on behalf of the seller, Stein Investment Group, and procured the buyer, a regional self-storage operator. Space Shop Self Storage was constructed in 1995 and was recently renovated and expanded. The property is situated on six acres along Alpharetta Highway.

May 4, 2018

CubeSmart-Self-Storage-Missouri-City-Texas

Acquisitions Industrial Self-Storage Texas

Bellomy Arranges Sale of 434-Unit CubeSmart Self-Storage Facility in Metro Houston

by Taylor Williams May 3, 2018

MISSOURI CITY, TEXAS — Bellomy & Co. has arranged the sale of a 434-unit self-storage facility in the southeastern Houston metro of Missouri City that is managed by Pennsylvania-based REIT CubeSmart. The property features both climate- and non-climate-controlled units totaling 54,400 square feet of net rentable space with room for expansion. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the seller, Austin-based Yellowstone Investments, in the transaction. The trio also procured the undisclosed, Houston-based buyer.

May 3, 2018

Development Industrial Self-Storage Texas

HSM to Open 763-Unit Self-Storage Facility in Metro Dallas on May 7

by Taylor Williams May 1, 2018

GARLAND, TEXAS — Under the auspices of a limited partnership, Henry S. Miller Cos. (HSM) will open a 763-unit self-storage facility at 1200 State Highway 66 in Garland, a northeastern suburb of Dallas. The grand opening of the facility, which totals 77,000 net rentable square feet, is set for Monday, May 7. Approximately 88 percent of the units will be climate-controlled and 12 percent will be non-climate-controlled. Pennsylvania-based self-storage REIT CubeSmart will manage the facility.

May 1, 2018

Newer Posts

Older Posts