CORPUS CHRISTI, TEXAS — Self-storage brokerage firm Versal has negotiated the sale of U Store, a 270-unit facility in Corpus Christi. The property, which comprises 75,835 net rentable square feet of non-climate-controlled space, includes six retail spaces and was fully occupied at the time of sale. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, a Texas-based limited liability company, in the transaction. The team also procured the Texas-based buyer.
JONESTOWN, PA. — Marcus & Millichap has brokered the sale of a portfolio of two self-storage facilities totaling 266 units in Jonestown, about 23 miles northeast of Harrisburg. The facilities, both of which were recently renovated, offer a total of 42,380 net rentable square feet of non-climate-controlled space. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Sean Beuche of Marcus & Millichap assisted in closing the deal as the broker of record. Additional terms of sale were not disclosed.
LOS ANGELES — A fund sponsored by CBRE Investment Management has acquired a portfolio of 14 self-storage assets located in Southern California and Utah that totals 8,697 units. The fund now owns 100 self-storage properties across the U.S., totaling 55,477 units. The seller and price were not disclosed. The self-storage assets, which will operate under the StorQuest brand, are primarily single-story, drive-up units in the key infill markets of Los Angeles, the Inland Empire, San Diego and Salt Lake City. The portfolio includes a mix of indoor, climate-controlled units and outdoor units. The properties are currently 95 percent leased. Nick Walker of CBRE’s National Self Storage Advisory Group represented the seller in the transaction. Tom Traynor and James Millon of CBRE’s Large Loans division, along with Talonvest, arranged the financing in the transaction.
LAS VEGAS — DXD Capital has completed development of a 991-unit self-storage facility at 7435 West Sahara Ave. in Las Vegas. The company acquired the 1.7-acre parcel in January 2021. The development features two interior loading bays with room for three trucks in a fully climate-controlled building with two freight elevators, in addition to a storefront with moving supplies. Studio Level 1 designed the property, with Arco Murray as the general contractor. Public Storage is the operator.
LOCKHART, TEXAS — Marcus & Millichap has arranged the sale of Alliance Self Storage, a 532-unit facility located in the Central Texas city of Lockhart. The facility was built on five acres in 2002 and totals 70,750 net rentable square feet. Jon Danklefs of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies that requested anonymity, in the transaction.
HALTOM CITY, TEXAS — Marcus & Millichap has brokered the sale of Haltom City Self Storage, a 328-unit facility located on the northern outskirts of Fort Worth. The property was built in 1985 and totals 39,570 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a Dallas-based private investor, in the off-market transaction. The duo also procured a Phoenix-based investment firm as the buyer. Both parties requested anonymity.
FRANKLIN, OHIO — Marcus & Millichap has brokered the sale of a two-property self-storage portfolio in Franklin, which is located about midway between Dayton and Cincinnati. The sales price was undisclosed. The facilities, which are located within a mile of each other, feature a combined 273 non-climate-controlled units, 61 rentable parking spaces and two rentable office spaces. The portfolio is 78 percent occupied. Gabriel Coe, Brett Hatcher and Nathan Coe of Marcus & Millichap represented the seller, a limited liability company. The portfolio sold to an out-of-state buyer as part of a multi-state portfolio sale.
SPOKANE, WASH. — SVN Cornerstone has brokered the sale of Perry Storage, a warehouse, office, indoor and outdoor storage facility in Spokane. RDD Holdings LLC acquired the property from Perry LLC for $7 million. Situated on 13.5 acres at 10808 N. Perry St., the multi-building facility features 47,428 square feet of self-storage space. The property was constructed between 2009 and 2016. John Hiller of SVN Cornerstone represented the buyer, while the seller was self-represented in the deal.
AUSTIN, TEXAS — CBRE has negotiated the sale of a 550-unit self-storage facility in Austin. Public Storage currently operates the facility, which comprises 52,303 net rentable square feet of climate-controlled space. Nick Walker and Nate Holash led a CBRE team that represented the seller, global investment firm KKR, in the transaction. Utah-based REIT Extra Space Storage purchased the facility for an undisclosed price.
SPRING HILL, FLA. — Associated Bank has provided an $8.6 million loan to an affiliate of Metro Storage LLC for the construction of a self-storage facility located in Spring Hill. Upon completion, the development will comprise 62,856 square feet across 543 units, 504 of which will be climate-controlled. The property will also feature 83 covered and 31 uncovered RV and boat parking spaces. Edward Notz of Associated Bank’s Commercial Real Estate Division originated the loan.