NORTH HAVEN, CONN. — Berkshire Hathaway has brokered the sale of The Storage Depot, a 310-unit self-storage facility in North Haven, located north of Yale University. The property spans 33,260 net rentable square feet. Cameron Vale and Parker Sweet of Berkshire Hathaway represented the seller and secured the buyer, both of which were privately held companies that requested anonymity, in the transaction.
GEORGE WEST, TEXAS — Marcus & Millichap has brokered the sale of 281 Mini Storage, a 199-unit self-storage facility in George West, located roughly midway between San Antonio and Corpus Christi. The facility spans 37,440 net rentable square feet. Bryan Quaschnick, Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private investor, in the transaction. The trio also procured a privately held, Texas-based investment group as the buyer. Both parties requested anonymity.
GRANDVIEW HEIGHTS AND UPPER ARLINGTON, OHIO — Ready Capital has closed a $22.8 million loan for the acquisition and stabilization of a 1,649-unit self-storage portfolio located in the metro Columbus cities of Grandview Heights and Upper Arlington. The nonrecourse loan features interest-only payments, a floating rate and a three-year term. The borrower was undisclosed.
BEAUMONT, TEXAS — Marcus & Millichap has arranged the sale of Storage Depot, a 507-unit self-storage facility in Beaumont. The property spans 59,120 net rentable square feet. Dave Knobler, Brandon Karr and Danny Cunningham of Marcus & Millichap represented the undisclosed, Texas-based seller in the transaction. The trio also procured the buyer, El Paso-based Riverbend Development. The sales price was not disclosed.
CONCORD, N.H. — Storage Ventures, a Connecticut-based self-storage investment and management firm, has acquired a 385-unit facility located along Concord’s Loudon Road corridor. Built in 1988, the six-building complex offers drive-up self-storage space and a rental apartment, as well as outdoor parking for cars, recreational vehicles and boats. The seller and sales price were not disclosed.
CHICAGO — Chicago-based JLL Capital Markets has brokered the sale of an eight-property self-storage portfolio totaling 4,317 units across Illinois, North Carolina and Texas for an undisclosed price. In addition to a property in Chicago, the facilities are located in Plano, Little Elm, Garland and Flower Mound, Texas; and Durham, Raleigh and Spring Lake, N.C. The portfolio was 93 percent leased as of year-end 2021. Steve Mellon and Brian Somoza led the JLL team that represented the seller, Harrison Street. Life Storage was the buyer.
BENBROOK, TEXAS — California-based investment firm DealPoint Merrill has sold a 982-unit self-storage facility in Benbrook, a southwestern suburb of Fort Worth, for $20 million. The two-story property spans 112,000 square feet and includes a 10,036-square-foot Goodwill store. The self-storage facility features entirely climate-controlled space. The buyer was not disclosed.
STOCKTON, CALIF. — Colliers has arranged the sale of Hammer Lane Self Storage, a self-storage property located at 6220 Sampson Road in Stockton. Northwest Building LLC acquired the asset from Hammer Lane LLC for $25 million, or $227 per rentable square foot and $39,960 per unit. The property features 109,800 square feet in 526 fixed storage units and an additional 49,064 square feet of parking in 99 units. Tom de Jong and Dana Chobor of Colliers’ Self Storage Group represented the buyer and seller in the transaction.
LAYTON, UTAH — PSRS has secured $5 million in refinancing for a 655-unit self-storage facility in Layton. William DeFanti of PSRS arranged a nonrecourse loan with a seven-year term and 30-year amortization. The lender provided prepayment flexibility along with a 3.45 percent interest rate.
ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Alpha Storage Centers, a 290-unit self-storage facility in Arlington. The property spans 88,107 net rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a locally based private investor, in the transaction. An entity doing business as 10 Federal Self Storage purchased the asset for an undisclosed price.