COLLEGE STATION, TEXAS — Marcus & Millichap has arranged the sale of Brazos Moving and Storage, a new 408-unit self-storage facility located at 10999 State Highway 30 in College Station. Construction of the property was completed in January and comprises 60,550 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability firms.
PEMBROKE PINES, FLA. — Strategic Storage Growth Trust Inc., a non-traded REIT sponsored by SmartStop Asset Management LLC, has acquired an 870-unit self-storage facility in Pembroke Pines, roughly 23 miles north of Miami. The property is located at the intersection of Pines Boulevard and S.W. 186th Avenue. The 84,000-square-foot, climate-controlled facility was completed earlier this year and comprises one two-story and one three-story building. The sales price was not disclosed.
KANSAS CITY, KAN. — Phillips Development and Realty (PDR) has acquired a 1.5-acre land parcel on Southwest Boulevard in Kansas City. The firm plans to build a 100,000-square-foot, 710-unit self-storage facility on the site. Construction of the Class A development is slated to begin during the third quarter of 2018 and be completed in the third quarter of 2019. Kansas City presents opportunities for development as the population continues to grow and employers expand, according to Donald Phillips, managing director of Tampa, Fla.-based PDR. Kansas City’s metro area population ranks 30th on a list of the 382 metropolitan statistical areas within the United States.
PEMBROKE PINES, FLA. — HFF has arranged a $14.2 million senior loan for Sheridan Village, a 63,654-square-foot retail center and self-storage facility in Pembroke Pines. Scott Wadler and Jesse Wright of HFF arranged the seven-year, fixed-rate loan through Mercantil Bank NA on behalf of the borrowers, construction firm ANF Group Inc. and its affiliate Sheridan Real Estate Group LLC. The borrowers will use the loan proceeds to retire the existing construction loan. Phase I of Sheridan Village was completed in December 2016 and includes 15,098 square feet of retail fronting Sheridan Street. The second phase, completed in December 2017, includes an additional 14,029 square feet of retail and 34,527 square feet of climate-controlled self-storage space, situated on two floors above the ground-floor retail space. Both phases are fully leased or preleased to tenants including Dunkin’ Donuts, Cricket Wireless, Memorial Healthcare System, a pharmacy and an Italian restaurant.
DALLAS AND FORT WORTH, TEXAS — JLL has negotiated the sale of a portfolio of six self-storage properties totaling more than 3,300 units located throughout the Dallas-Fort Worth (DFW) area. The Class A facilities were all built between 2001 and 2017 and total approximately 430,000 square feet. Features of the properties include a varying percentage of climate-controlled units, 24-hour video surveillance and perimeter fencing. California-based self-storage REIT Public Storage purchased the portfolio from a joint venture between Advantage Storage and Harrison Street Real Estate Capital. Steve Mellon and Brian Somoza of JLL brokered the deal.
CORPUS CHRISTI, TEXAS — Marcus & Millichap has brokered the sale of Bay Area Mini Storage, a 635-unit self-storage facility located at 2301 Rodd Field Road in Corpus Christi. The property features 95,479 square feet of net rentable space and visibility from State Highway 357, and has undergone three expansions since its original construction in 2003. Jon Danklefs and Michael Mele of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer, a private investor. Both parties requested anonymity.
BAYTOWN, TEXAS — Marcus & Millichap has arranged the sale of A Low Cost Self Storage, a 305-unit self-storage facility in the Houston metro of Baytown. The sale of the 35,214-square-foot property includes 1.5 acres of expansion land fronting State Highway 146. Dave Knobler of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Knobler also procured the buyer, an individual who owns 14 self-storage facilities along the Texas Gulf Coast operating under the name The Storage Place.
FRISCO, TEXAS — Marcus & Millichap has brokered the sale of Storage Solutions of Frisco, a 496-unit self-storage facility located at 6707 Eldorado Parkway in the northern Dallas metro of Frisco. The property, which consists of 212 climate-controlled units and 280 non-climate drive-up units, features perimeter fencing, personalized keypad entry and fire protection systems. Brandon Karr of Marcus & Millichap represented the seller, a limited liability company, and secured the buyer, an undisclosed corporation.
WYOMING, MICH. — Marcus & Millichap has arranged the sale of Mini Storage Depot in Wyoming, five miles south of Grand Rapids. The sales price was not disclosed. The property, located at 4975 Clyde Park Ave., features 319 non-climate-controlled units and 211 climate-controlled units for a total of 530 units. Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured and represented the buyer, an out-of-state limited liability company.
SAN ANTONIO — Bellomy & Co. has secured the sale of the 606-unit Judson Self Storage facility located at 14989 Judson Road in San Antonio. Rockville, Md.-based Store It All Self Storage purchased the facility for an undisclosed price. Harry Botkin of HLB Investments in New Braunfels represented the San Antonio-based seller. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. procured the buyer. The 129,573-square-foot Judson Self Storage was 72 percent occupied at the time of sale.
