DALLAS — JLL has negotiated the sale of a 1,252-unit self-storage facility located at 2500 Lone Star Drive in West Dallas. The three-story facility features 117,503 net rentable square feet of climate-controlled space and was 50 percent occupied at the time of sale. Austin-based CSW Development sold the property to Charlotte-based Madison Capital for an undisclosed price. Brian Somoza, Steve Mellon, Matthew Wheeler, Adam Roossien and Jake Kinnear of JLL brokered the deal. The new ownership intends to rebrand the property as a Go Store It facility.
ST. LOUIS — Argus Self Storage Advisors has brokered the sale of the Second Attic Self Storage property in St. Louis for an undisclosed price. The 34,450-square-foot facility sits on nearly two acres near I-170 and St. Charles Rock Road. Larry Goldman of Argus brokered the transaction. Second Attic Associates LLC sold the property to St. Charles Rock Storage LLC. INB Bank provided acquisition financing.
CYPRESS, TEXAS — Marcus & Millichap has negotiated the sale of AllSafe Storage, a 648-unit self-storage facility located northwest of Houston in Cypress. The facility comprises 354 climate-controlled units, 107 non-climate-controlled units and 187 outdoor storage spaces for a total of 59,625 net rentable square feet. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a Texas-based limited liability company, in the deal. The duo also secured the buyer, a national REIT. Both parties requested anonymity.
RICHMOND, MAINE — Marcus & Millichap has brokered the sale of Mid-Maine Storage, a 157-unit self-storage facility located on the southern outskirts of Augusta. The property comprises 154 non-climate-controlled units and three garage units for a total of 17,410 net rentable square feet. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Jim Koury of Marcus & Millichap assisted in closing the deal as the broker of record.
TYLER, TEXAS — Colorado-based investment firm Spartan Investment Group is underway on construction of a 314-unit expansion project at FreeUp Storage, a self-storage facility located about 100 miles east of Dallas in Tyler. The facility currently spans 77,342 net rentable square feet across 517 units, and the expansion will increase the size of the property by 26,700 net rentable square feet. The new building will feature climate-controlled and boat/RV storage space. Spartan Investment Group plans to begin leasing the new units later this month.
MONTGOMERY, ILL. — Coldwell Banker Commercial Real Estate Group has brokered the $3.4 million sale of the US 30 Self Storage property in Montgomery, about 45 miles west of Chicago. The self-storage facility consists of 278 enclosed units and 268 paved parking spaces for boats and RVs. The property was originally constructed in 2005 with additional units added in 2021. Richard Faltz of Coldwell Banker Commercial represented the undisclosed buyer. The seller was also not provided.
WESTWOOD, N.J. — Lakeland Bank has provided a $12 million loan for the refinancing of an 830-unit self-storage facility located in the Northern New Jersey community of Westwood. The property spans 113,800 net rentable square feet of space across 783 climate-controlled units and 47 drive-up units. Greg Nalbandian led a JLL team that arranged the loan on behalf of the borrower, Maxim Realty Trust, which developed the facility in 2017. Extra Space Storage operates the property.
LAFAYETTE, IND. — Marcus & Millichap has negotiated the sale of Brady Lane Self Storage in Lafayette, about 60 miles northwest of Indianapolis. The sales price was undisclosed. Located at 1909 Brady Lane, the 62,240-square-foot self-storage facility comprises 574 units across eight buildings. Jeffrey Herrmann and Sean Delaney of Marcus & Millichap represented the seller, a California-based limited liability company. The duo also secured and represented the buyer, a Minnesota-based limited liability company.
MESA, ARIZ. — Teakwood Real Estate Partners has acquired a self-storage facility located at 462 S. Gilbert Road in Mesa. Terms of the transaction were not released. Westport Properties will oversee management and operation of the property under the US Storage Centers brand. The facility features 292 single-story, drive-up units, electronic gate access and 24-hour surveillance. Teakwood Real Estate Partners represented itself in the acquisition.
EL PASO, TEXAS — Marcus & Millichap has brokered the sale of Stuff Hotel, a 424-unit self-storage facility that is situated on a 2.5-acre site at 11655 Pellicano Drive in El Paso. Jon Danklefs of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction.