Self-Storage

Tulfra Real Estate, Hampshire Companies Complete Sale of 91,000 SF Self-Storage Facility in New Jersey for $19.5M

by David Cohen March 28, 2018

TOTOWA, N.J. — Tulfra Real Estate and The Hampshire Companies have completed the disposition of a 91,000-square-foot self-storage facility in Totowa. The property, located at 930 Riverside Drive, was acquired by an undisclosed public company for $230 per square foot. Tulfra and Hampshire acquired the property in 2016 and redeveloped it into a self-storage facility with 1,500 units. Located 17 miles from Manhattan, the facility is part of the 225,000-square-foot Totowa Business Center office park.

March 28, 2018

Illinois Industrial Leasing Activity Midwest Self-Storage

981-Unit Self-Storage Facility to Open in Chicago

by Kristin Harlow March 28, 2018

CHICAGO — A 981-unit, 65,000-square-foot self-storage facility is opening at 6000 W. Touhy Ave. in Chicago. CubeSmart Self Storage will manage the climate-controlled facility, which is expected to open in April. The property, owned by SPM Advisors LLC, was formerly home to a Frozen Ropes facility. Athletico Physical Therapy will remain a tenant at the property.

March 28, 2018

Acquisitions California Industrial Self-Storage Western

US Storage Centers Buys 483-Unit Self-Storage Facility in Upland, California

by Amy Works March 28, 2018

UPLAND, CALIF. — US Storage Centers has acquired a self-storage facility located at 1808 W. Foothill Blvd. in Upland. Foothill You-Stor sold the property for an undisclosed price. The 45,452-square-foot property features 483 self-storage units with drive-up access, video monitoring, gated access and RV/boat/auto storage. US Storage Centers currently owns and operates 43 self-storage facilities in Southern California. Garrett Sholer of Lee & Associates represented the buyer, while Travis Allan, also of Lee & Associates, represented the seller in the deal.

March 28, 2018

Development Industrial Self-Storage Texas

The Jenkins Organization to Open 1,022-Unit Self-Storage Facility in Austin

by Taylor Williams March 27, 2018

AUSTIN, TEXAS — The Jenkins Organization, a Houston-based developer and operator of self-storage facilities, will open ATX Storage, a 1,022-unit facility in Austin, on March 31. Construction of the property, which features 110,025 square feet of net rentable space, began in March 2017. The Jenkins Organization will also open another Austin facility, the 736-unit Lakeline Storage, on March 31. With these two facilities coming on line, the company now operates 45 properties across five states.

March 27, 2018

Industrial Loans Midwest Missouri Self-Storage

ASC Arranges $3M Refinancing of Self-Storage Portfolio in Branson, Missouri

by Kristin Harlow March 27, 2018

BRANSON, MO. — American Street Capital (ASC) has arranged a $3 million CMBS loan for the refinancing of a self-storage portfolio in Branson. The portfolio includes five facilities and 694 units spanning 127,449 square feet. The portfolio was over 95 percent occupied at the time of the loan closing. Igor Zhizhin of ASC arranged the 10-year loan, which features a 30-year amortization schedule.

March 27, 2018

Acquisitions Georgia Industrial Self-Storage Southeast

U-Haul Acquires 324,000 SF Warehouse South of Atlanta, Plans 1,800-Unit Self-Storage Facility, Regional Office

by Camren Skelton March 26, 2018

STOCKBRIDGE, GA. — U-Haul Co. has acquired a 324,000-square-foot warehouse located at 471 Eagles Landing Parkway in Stockbridge, roughly 19 miles southeast of downtown Atlanta. Other terms of the deal were not disclosed. U-Haul Mobility & Storage at Eagles Landing will be repurposed to offer 1,800 indoor self-storage units for rent. The facility will include a mix of climate-controlled and non-climate-controlled units and security features. In addition, the warehouse will house a new regional office for U-Haul. The company’s operations will encompass 108,000 square feet, and the remaining 216,000 square feet will be available for lease. The facility will employ approximately 20 people when fully operational, and will feature a sidewalk expansion for customers who arrive by golf cart, an electrical charging station for golf carts and a walking and biking path. In the coming weeks, U-Haul will allocate warehouse space to store more than 300 U-Box portable moving and storage containers and lot space to accommodate 40 U-Haul truck boxes, providing immediate storage solutions for customers while self-storage rooms are under construction. A construction timeline was not disclosed.

March 26, 2018

Acquisitions Industrial Midwest Minnesota Self-Storage

US Storage Centers, Harrison Street Acquire Two Self-Storage Facilities in Minnesota

by Kristin Harlow March 26, 2018

WHITE BEAR LAKE AND LAKE ELMO, MINN. — US Storage Centers, in partnership with Harrison Street Real Estate Capital LLC, has acquired two self-storage facilities in Minnesota for an undisclosed price. Both properties, which feature climate-controlled units, will be rebranded as US Storage Centers. One of the facilities, a 922-unit, 83,264-square-foot property, is located in White Bear Lake, about 20 miles northeast of Minneapolis. The other is a 790-unit facility with 69,038 square feet of self-storage space in Lake Elmo, about 24 miles east of Minneapolis. US Storage Centers currently manages approximately 8 million square feet of self-storage space nationwide.

March 26, 2018

Acquisitions Industrial Self-Storage Texas

Skyview Brokers Sale of 763-Unit Self-Storage Facility in San Antonio

by Taylor Williams March 23, 2018

SAN ANTONIO — Skyview Advisors, a Tampa-based brokerage firm specializing in self-storage, has brokered the sale of a 763-unit Extra Space Storage facility in San Antonio. Approximately 97 percent of the units at the Class A facility are climate-controlled. The property sold during lease-up at 50 percent physical occupancy, according to Ryan Clark of Skyview, who represented the seller in the transaction. California-based FollettUSA purchased the property for an undisclosed price.

March 23, 2018

SurePoint-Self-Storage-Missouri-City-Texas

Development Industrial Self-Storage Texas

SurePoint, Johnson Development to Build 673-Unit Self-Storage Facility in Metro Houston

by Taylor Williams March 22, 2018

MISSOURI CITY, TEXAS — A partnership between San Antonio-based SurePoint Self Storage and Houston-based Johnson Development Corp. will develop a 673-unit self-storage facility in Missouri City, a southwestern suburb of Houston. The three-story property, which will be SurePoint’s fifth facility in the Houston area, will span 67,000 square feet of mostly climate-controlled rentable space. Construction is scheduled to begin over the summer.

March 22, 2018

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 623-Unit Self-Storage Facility in Edmond, Oklahoma

by Taylor Williams March 22, 2018

EDMOND, OKLA. — Marcus & Millichap has brokered the sale of U Storage OK, a 623-unit self-storage facility in Edmond, a northern suburb of Oklahoma City. The Class A property features both climate- and non-climate-controlled units and recently underwent a 28,000-square-foot expansion. Trey Hammond and Michael Mele of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Brian Fulton of Marcus & Millichap represented the buyer, a private investment group. Both parties requested anonymity.

March 22, 2018

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