Self-Storage

Basis Industrial Receives $8.3M Construction Loan for Self-Storage Facility in Detroit

by Kristin Harlow September 26, 2023

DETROIT — Basis Industrial has received an $8.3 million construction loan for a self-storage facility in Detroit. Basis acquired the land at 1610 Algonquin St. in October 2021. Berkadia arranged the construction loan through Old National Bank. Basis plans to break ground on the 78,187-square-foot project in October. The facility will feature 645 climate-controlled units, advanced security systems and other amenities. Completion is slated for fall 2024. Basis plans to have a third party, Public Storage, manage the facility upon completion.

September 26, 2023

Development Industrial Loans New Jersey Northeast Self-Storage

CrownPoint, Lamar Cos. to Develop 1,200-Unit Self-Storage Facility in Newark

by Taylor Williams September 25, 2023

NEWARK, N.J. — A joint venture between two locally based development and investment firms, CrownPoint Group Inc. and Lamar Cos., will develop a 1,200-unit self-storage facility in Newark’s Ironbound district. The site is a former salvage yard that comprises four lots totaling roughly one acre, and the six-story, climate-controlled facility will span 135,000 gross square feet. Construction is set to begin in the fourth quarter. Extra Space Storage will operate the property. Michael Klein, Jon Mikula and Ryan Carroll of JLL arranged a $19 million construction loan through Provident Bank on behalf of the development team.

September 25, 2023

Acquisitions Indiana Industrial Midwest Self-Storage

Argus Arranges $6.2M Sale of Self-Storage Facility in Lafayette, Indiana

by Kristin Harlow September 19, 2023

LAFAYETTE, IND. — Argus Self Storage Advisors has arranged the sale of a CubeSmart Self Storage facility in Lafayette for $6.2 million. Located at 3480 Concord Road, the property features 315 units and totals 41,960 square feet. The sale included expansion land, enabling an additional 45,000 square feet. Rob Schick of Argus represented the undisclosed seller. The asset was 81 percent leased at the time of sale.

September 19, 2023

Development North Carolina Self-Storage Southeast

Proffitt Dixon Delivers 93,000 SF Self-Storage Facility in Chapel Hill, North Carolina

by John Nelson September 8, 2023

CHAPEL HILL, N.C. — Charlotte-based Proffitt Dixon Partners has completed the development of Carraway Self Storage, a 93,000-square-foot, climate-controlled self-storage facility in Chapel Hill. Located at 500 Myrica St., the property comprises small, medium and large units across four stories. Features include LED sensor lighting, an advanced security system and boat and RV storage options. JLL Charlotte’s Project and Development Services (PDS) team managed the design and construction of the project. Public Storage will operate the property on behalf of Proffitt Dixon.

September 8, 2023

Public-Storage-Voorhees-Township-New-Jersey

Development Industrial New Jersey Northeast Self-Storage

Basis Industrial to Develop 855-Unit Self-Storage Facility in Voorhees Township, New Jersey

by Taylor Williams September 8, 2023

VOORHEES TOWNSHIP, N.J. — Basis Industrial, a Florida-based owner-operator, will develop an 855-unit self-storage facility in Voorhees Township, located just outside of Philadelphia in Southern New Jersey. The facility will span 113,000 gross square feet and feature climate-controlled space. Construction is scheduled to begin later this month and to be complete in fall 2024. WSFS Bank provided $12.1 million in construction financing for the project. Berkadia arranged the loan on behalf of Basis Industrial. Public Storage will operate the facility.

September 8, 2023

Development Industrial New York Northeast Self-Storage

SecureSpace Self Storage Opens New Facility in Queens

by Taylor Williams September 5, 2023

NEW YORK CITY — California-based owner-operator SecureSpace Self Storage has opened a new facility at 131-21 14th Ave. in the College Point area of Queens. The number of units was not disclosed. The facility spans 131,691 net rentable square feet of climate-controlled space. Units range in size from 5 feet by 5 feet to 10 feet by 30 feet. The facility also features a leasing office and AI-enabled cameras and sensors that provide security and monitoring.

September 5, 2023

Acquisitions Industrial New Hampshire Northeast Self-Storage

Marcus & Millichap Brokers Sale of 448-Unit Self-Storage Facility in Merrimack, New Hampshire

by Taylor Williams August 31, 2023

MERRIMACK, N.H. — Marcus & Millichap has brokered the sale of a 448-unit self-storage facility located in the southern New Hampshire city of Merrimack. The facility, which is managed by Life Storage, opened in early 2022 and spans 57,840 net rentable square feet of non-climate-controlled space. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company, in the deal. Thomas Shihadeh of Marcus & Millichap assisted in closing the transaction as the broker of record. Additional terms of sale were not disclosed.

August 31, 2023

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 63-Unit Self-Storage Facility in Rockport, Texas

by Taylor Williams August 29, 2023

ROCKPORT, TEXAS — Marcus & Millichap has brokered the sale of Affordable Mini Storage, a 63-unit self-storage facility in Rockport, located just north of Corpus Christi. The three-building facility was constructed in 2018. Jon Danklefs of Marcus & Millichap represented the seller in the transaction, and Sean Delaney, also with Marcus & Millichap, represented the buyer. Both parties were limited liability companies that requested anonymity.

August 29, 2023

Acquisitions Colorado Industrial Self-Storage Western

Andover Properties Buys 215,748 SF Self-Storage Facility in Colorado Springs

by Amy Works August 29, 2023

COLORADO SPRINGS, COLO. — Andover Properties has acquired a self-storage facility situated on 23 acres in Colorado Springs. Terms of the transaction were not released. Andover will rebrand the 215,748-square-foot facility under its Storage King USA brand. Previously, the asset operated as AAA Platte Self Storage. The property has 681 climate-controlled units in a variety of sizes. The Storage King USA portfolio now totals 158 facilities in 18 states across the country, with five assets in Colorado.

August 29, 2023

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 332-Unit Self-Storage Facility in Denton

by Taylor Williams August 14, 2023

DENTON, TEXAS — Marcus & Millichap has brokered the sale of Affordable Self Storage, a 332-unit facility located in the North Texas city of Denton. The property was built in 1973 and totals 47,108 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a locally based private investor that has operated the property for three decades, in the transaction. The buyer was a Chicago-based investment firm. Both parties requested anonymity.

August 14, 2023

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