AURORA, COLO. — Argus Self Storage Advisors has arranged the sale of Guardian Storage Aurora, a Class A self-storage facility in Aurora. Terms of the deal were not released. Located at 3633 Walden Circle, the 87,438-square-foot property offers 742 climate-controlled units within exterior, drive-up access buildings. Built in 2019, Guardian Storage Aurora was 90 percent occupied at the time of sale. Ben Vestal, Cole Carosella and Matthew Cox of Argus Self Storage Advisors facilitated the transaction.
CHICAGO — Marcus & Millichap has negotiated the $11.2 million sale of a two-property self-storage portfolio in Chicago. Jeffrey Herrmann and Sean Delaney of Marcus & Millichap represented the seller, Honore Holdings, and procured the buyer, Storage Post. The portfolio includes two Honore Storage locations at 3215 W. Lawrence Ave. and 5145 N. Clark St. The properties total 50,858 rentable square feet. The Lawrence Avenue facility features 313 climate-controlled units and 95 non-climate-controlled units, while the Clark Street facility includes 108 climate-controlled units and 239 non-climate-controlled units.
SAN JOSE, CAMPBELL, RANCHO CORDOVA AND CAMARILLO, CALIF. — Gantry has secured a $70 million structured permanent loan to retire existing construction/bridge debt and recapitalize four recently completed developments/value-add self-storage facilities in Southern and Northern California. The four properties, which are currently undergoing initial lease-ups, include Trojan Storage San Jose, Trojan Storage Campbell, Trojan Storage Rancho Cordova and Trojan Storage Camarillo. Andy Bratt, Amit Tyagi and Sean Kuang of Gantry represented the borrower, Trojan Storage. The loan, which was secured through one of Gantry’s life company relationships, features a fixed rate with a lengthy interest-only period during the term.
JERSEY CITY, N.J. — Fulton Bank has provided a construction loan of an undisclosed amount for Phase I of Liberty Storage Center, a 795-unit project in Jersey City. The six-story facility will be located at 300 Thomas McGovern Drive and will span 103,500 net rentable square feet of climate-controlled space. Michael Klein, Jon Mikula and Ryan Carroll of JLL placed the loan with Fulton Bank on behalf of the borrower, locally based developer Tulfra Real Estate. Liberty Storage Center will ultimately feature 260,000 net rentable square feet of product that will be developed in three phases. Public Storage will be the operator.
NANTUCKET, MASS. — Marcus & Millichap has brokered the sale of Old South Storage, a 198-unit facility on Nantucket, an island off the coast of Massachusetts. The property was built in 2018 and spans 17,344 net rentable square feet of climate-controlled space. Michael Palladino, Kevin Bledsoe and Matthew Junkin of Marcus & Millichap represented the undisclosed seller in the transaction. The sales price was $5.6 million, and the buyer was also undisclosed. Thomas Shihadeh of Marcus & Millichap assisted in closing the deal as the broker of record.
MIAMI — A partnership between DXD Capital and Olympus Ventures has completed a 774-unit, three-story self-storage facility located at 11210 N.W. 105th St. in Miami. Extra Space Storage manages the facility, which spans 74,388 net rentable square feet. ARCO was the general contractor for the climate-controlled storage property, and TBK Bank provided an undisclosed amount of construction financing.
TRUCKEE, CALIF. — Marcus & Millichap has secured $19.4 million in financing for the acquisition of a self-storage facility in Truckee. Joel Westle of Marcus & Millichap Capital Corp.’s San Francisco office arranged the 10-year loan on behalf of Airport Self Storage. The 54,000-square-foot property is located at 11999 Highway 267 near the Truckee Tahoe Airport.
LUBBOCK, TEXAS — Inland Private Capital Corp. and Devon Self Storage, which are both part of The Inland Real Estate Group of Cos., have completed an 844-unit facility in Lubbock. The site at 2010 Avenue R formerly housed an AT&T processing center. The four-story, elevator-served facility features 85,300 net rentable square feet of 100 percent climate-controlled storage space, as well as an exterior staging area that allows controlled access to elevators on each floor and drive-up unit capability.
NEW YORK CITY — JLL has arranged a $115 million loan for the refinancing of a portfolio of nine self-storage properties that are located in various areas of New York and New Jersey. The portfolio spans 723,664 net rentable square feet across 9,578 units. Properties are located in The Bronx, Floral Park, Garden City, Huntington Station and Yorktown Heights areas of New York and in the New Jersey communities of Haledon, Elizabeth, Linden and Perth Amboy. Steven Klein and Robert Tonnessen of JLL arranged the loan through Nuveen Real Estate on behalf of the borrower, Atlanta-based owner-operator Storage Post. Specific loan terms were not disclosed.
JANESVILLE, WIS. — Marcus & Millichap has negotiated the $2.3 million sale of Interstate Secure Storage, a 233-unit self-storage facility in the Milwaukee suburb of Janesville. Built in 2015, the property totals 44,250 rentable square feet. There are expansion plans for two additional buildings totaling 25,950 square feet. Dan Bowar of Marcus & Millichap represented the buyer, Hastings Property Group LLC. The seller was undisclosed.