TOMS RIVER, N.J. — Developer DXD Capital has completed construction of a 761-unit self-storage facility in Toms River, located on the Jersey Shore. The four-story building spans 62,818 net rentable square feet and features multiple elevators and a drive-in loading area. DXD Capital acquired the site in summer 2022. Public Storage will operate the facility. Jayeff served as the general contractor on the project, and Century Bank was the construction lender.
NEW YORK CITY — An affiliate of international lender White Oak Global Advisors and California-based Thorofare Capital have provided a $21.5 million loan for a self-storage conversion project in Manhattan’s Tribeca neighborhood. The borrower, CSP Properties LLC, will use the proceeds to acquire the site at 78 Walker St., which currently houses a vacant office and industrial building, and convert the property into a 300-unit self-storage facility. Public Storage will operate the facility, which will span 30,540 net rentable square feet.
SAN ANTONIO — A partnership between San Antonio-based Bakke Development Corp. and Atlanta-based Batson-Cook Development Co. (BCDC) has broken ground on a 751-unit self-storage facility at the corner of SW Loop 410 and Palo Alto Road in San Antonio. The facility will span 86,475 net rentable square feet of space. Project partners include Alamo Architects, civil engineer INK Civil, general contractor Independent Contractors and construction lender Security State Bank. Completion is slated for the second quarter of 2025. The project marks the seventh self-storage collaboration between Bakke and BCDC, with construction on the most recent project, a 773-unit facility in Weslaco, beginning earlier in March.
QUINLAN, TEXAS — Marcus & Millichap has arranged the sale of The Lake Tawakoni Portfolio, a collection of storage and hospitality properties in Quinlan, about 45 miles east of Dallas. The portfolio consists of 219 RV sites, 198 storage units, 39 cabins and 39 boat slips across three properties. Brad Dorsey, Skyler Henderson, Blake Eisenberg, Edgar Martinez and Katie Eaton of Marcus & Millichap brokered the deal. The buyer and seller were not disclosed.
LAKE PARK, FLA. — DXD Capital has completed the development of a self-storage facility located in Lake Park, a suburb of Palm Beach. Located at 1450 Watertower Road, the South Florida property totals 77,150 square feet of rentable square feet across 738 individual units. DXD acquired the property in July 2022 through the DXD Self Storage Fund I, which was launched in November 2020. Public Storage operates the facility.
LEBANON, TENN. — Marcus & Millichap has brokered the sale of Leeville Pike Storage, a 182-unit self-storage facility located at 6000 Leeville Pike in Lebanon, about 20 miles east of Nashville via I-40. The gated property was built in 2015 and features LED lighting and security cameras. Andrew Beeckman of Marcus & Millichap’s Nashville office represented the seller and procured the buyer in the transaction. Both parties requested anonymity, and the sales price was also not disclosed. Beeckman says the previous owner was motivated to sell in order to retire.
MICKLETON, N.J. — San Francisco-based mortgage banking firm Gantry has arranged a $10.2 million acquisition loan for a 454-unit self-storage facility located at 350 Swedesboro Ave. in the Southern New Jersey community of Mickleton. The facility includes climate-controlled space, drive-up units and vehicle storage spaces. Andy Bratt, Amit Tyagi and Sean Kuang of Gantry arranged the loan on behalf of the borrower, Moove In Storage. The direct lender was not disclosed.
NEW YORK CITY — Stuf Storage has opened a 110-unit self-storage facility in Brooklyn. The facility is located at 550 Fifth Ave. in the Park Slope neighborhood and consists of gross 9,000 net rentable square feet of space. Units range in size from 20 square feet to 250 square feet. The owner of the building was not disclosed. Stuf Storage now operates about 30 facilities across seven states.
NEW YORK CITY — Stuf Storage has opened a 180-unit self-storage facility in Brooklyn. The facility is located at 485 Clermont Ave. at the nexus of the Clinton Hill and Prospect Heights neighborhoods and consists of 15,000 gross square feet. Units range in size from 12 square feet to 240 square feet. Locally based developer RXR owns the property. Stuf Storage now operates about 30 facilities across seven states.
LORENA, TEXAS — Marcus & Millichap has brokered the sale of Lorena Mini Storage, a 122-unit self-storage facility located about 15 miles south of Waco. The facility spans 22,794 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a private investor based in the Dallas-Fort Worth area, in the transaction. The duo also procured a locally based investment group as the buyer. The sales price was not disclosed.
