CANTON, TEXAS — Marcus & Millichap has brokered the sale of Eason Storage, a 229-unit self-storage facility in Canton, about 60 miles east of Dallas. The facility, which was built on 4.7 acres in 2000 and expanded in 2017, consists of 39,265 net rentable square feet and comprises 20 climate-controlled units, 208 non-climate-controlled units and one rental house. Brandon Cunningham and Brandon Karr of Marcus & Millichap represented the seller in the transaction and procured the buyer, both of which requested anonymity.
DELAWARE, OHIO — Marcus & Millichap has brokered the sale of Premier Storage of Delaware, a 489-unit self-storage property in Delaware near Columbus. The sales price was undisclosed. The facility offers a mix of climate-controlled units, non-climate-controlled units and parking options across 68,053 square feet. Originally built in 1999 with an expansion in 2024, the asset spans a nearly 11-acre lot with room for additional growth. Gabriel Coe, Nathan Coe and Brett Hatcher of Marcus & Millichap represented the undisclosed seller and procured the local buyer. Michael Glass, broker of record in Ohio, assisted in the transaction.
WORCESTER, MASS. — Eastern Union has arranged a $13.3 million construction loan for a 931-unit self-storage facility that will be located in the central Massachusetts city of Worcester. The four-story facility will consist of 93,186 net rentable square feet of climate- and non-climate-controlled space across units with an average size of 100 square feet. Marc Tropp of Eastern Union arranged the loan, which was structured with a 36-month term, 65 percent loan-to-value ratio and an interest rate that is equivalent to 300 basis points over SOFR over the construction and lease-up period. CubeSmart will operate the facility. The lender was an undisclosed local bank, and the borrower was also not disclosed.
WARREN, OHIO — U-Haul has repurposed a 7.8-acre retail lot formerly home to a Chase bank and Tops Friendly Market grocery store in Warren, about 50 miles southeast of Cleveland. U-Haul Moving & Storage of Warren North, located at 3394 Elm Road NE, is currently serving customers out of a temporary retail showroom and is scheduled to complete renovations by summer 2025. Services immediately available include moving truck rentals, trailers, towing devices, boxes and moving supplies. Plans call for the addition of 1,000 indoor climate-controlled self-storage units with high-tech security features. The 69,000-square-foot complex will host a warehouse space that can store up to 500 U-Box portable moving and storage containers. Once renovations are finished, the store will also offer services such as professional hitch installation and propane.
HESPERIA, CALIF. — New York-based Merit Hill Capital has acquired Bear Valley RV Park and Self Storage, a self-storage facility at 18435 Bear Valley Road in the Inland Empire city of Hesperia. The price was not disclosed. Brian Somoza of JLL Capital Markets Self Storage team represented the undisclosed seller and procured the buyer in the deal. Built in 1996 on 49.6 acres, Bear Valley RV and Self Storage features 726 units spread across a single-story structure, RV parking units, surface parking units and portable storage units. Additionally, the facility offers electronic gate access, 24-hour video surveillance, climate-controlled units and an on-site office. Right Move Storage manages the property, which is 87 percent occupied.
TOMBALL, TEXAS — Locally based investment and management firm LandPark Advisors has purchased Sentinel Self Storage, a 350-unit facility located on a 4.7-acre site in the northwestern Houston suburb of Tomball. The facility, which opened in April, spans 80,195 net rentable square feet and features an automated security gate with key code access, roll-up doors, a manager’s office and video surveillance throughout the property. The seller and sales price were not disclosed.
DENTON, TEXAS — Dallas-based MYCON General Contractors has broken ground on an approximately 800-unit self-storage facility for U-Haul in the North Texas city of Denton. Located on a 5.9-acre site on the city’s east side, the facility will consist of three buildings totaling 70,000 net rentable square feet. More specifically, the development will comprise a 28,639-square-foot pre-engineered metal building for U-Box storage; a four-story, 98,512-square-foot self-storage building; and a 2,400-square-foot drive-up storage unit. The project, which marks MYCON’s seventh collaboration with U-Haul, is slated for a March 2025 completion.
COLORADO SPRINGS, COLO. — The LeClaire-Schlosser Group of Marcus & Millichap has arranged the sale of Astrozon Self Storage, a self-storage facility in Colorado Springs. Terms of the transaction were not released. Located at 3710 Astrozon Blvd., the 53,200-square-foot facility features 668 single-story, drive-up access units. Charles LeClaire and Adam Schlosser of Marcus & Millichap’s Denver office represented the seller, a local limited liability company, and secured the buyer, a New York-based, privately held real estate investment company, in the deal.
BUDD LAKE, N.J. — New York City-based Quinlan Development Group has completed a 761-unit self-storage facility in the Northern New Jersey community of Budd Lake. The facility spans 95,200 net rentable square feet across four buildings and offers a mix of climate- and non-climate-controlled units. The project also features direct unit lighting and hydraulic elevators throughout. Ware Malcomb designed the project, and Gerard Construction served as the general contractor. ExtraSpace Storage will operate the facility.
SAN ANTONIO — San Francisco-based mortgage banking firm Gantry has placed a $12 million loan for the refinancing of Lockaway Storage, a 716-unit facility in San Antonio. Built in 2018, the property spans 140,285 net rentable square feet and offers climate- and non-climate-controlled units, mini-office and warehouse spaces and oversized vehicle parking spaces. Tom Dao and Joe Foley of Gantry arranged the fixed-rate loan, which carries a five-year term and a 25-year amortization schedule, through an undisclosed life insurance company. The borrower was also not disclosed.