NEW YORK CITY — Storage Post, an Atlanta-based self-storage owner-operator, has acquired a newly built facility located at 600 Richmond Terrace on Staten Island. The number of units was not disclosed, but the property spans approximately 148,000 square feet of net rentable climate-controlled space. The seller and sales price were also not disclosed.
TYLER, TEXAS — Marcus & Millichap has brokered the 1031 exchange sale of Paluxy Drive Self Storage, a 279-unit facility in Tyler, located about 100 miles east of Dallas. The property was built in phases between 1999 and 2010 and spans 35,892 net rentable square feet. Brandon Karr of Marcus & Millichap represented the seller, a locally based family partnership, in the transaction. Karr also procured the buyer, an East Texas-based investor.
LINDEN, N.J. — Storage Post, an Atlanta-based self-storage owner-operator, has acquired a facility located at 1051 Edward St. in the Northern New Jersey community of Linden. The number of units was not disclosed, but the property spans approximately 107,000 square feet of net rentable climate-controlled space. The seller was also not disclosed. Storage Post will assume operations of the property, which previously conducted business under the Public Storage brand.
QUINCY, MASS. — Boutique commercial advisory firm Talonvest Capital has arranged a $23.1 million acquisition loan for a 1,351-unit self-storage facility located in the southern Boston suburb of Quincy. The climate-controlled property spans 103,562 net rentable square feet. An undisclosed life insurance company provided the nonrecourse loan, which carried a four-year term and three years of interest-only payments, on behalf of the borrower, Madison Capital Group.
EVERETT, WASH. — SecureSpace has purchased Stadium Storage, a self-storage facility located at 8407 Broadway Ave. in Everett. The buyer plans to rebrand the property as SecureSpace Everett. The four-story property offers 32,661 square feet of 100 percent climate-controlled units and 79 rentable parking spaces. Built in 2016, the property is 96 percent occupied. SecureSpace plans to expand the property to increase visibility of the 2.5-acre site. The newly rebranded property will offer free WiFi throughout and a contactless rental process. Terms of the transaction were not released.
NEW YORK — Atlanta-based self-storge investment firm Storage Post has acquired four facilities totaling 3,900 units in the New York City area. Specifically, the properties, which span more than 370,000 gross square feet, are located in Garden City, Floral Park, Huntington Station and Yorktown Heights. Storage Post has operated the facilities on behalf of the seller, an undisclosed institutional investor, since 2016 and will continue to do so following the change in ownership.
COLUMBUS AND DUBLIN, OHIO — Marcus & Millichap has brokered the sale of a portfolio of three Tri-Village Self Storage facilities in Ohio for an undisclosed price. The properties, totaling 1,653 units, are located at 3490 Trabue Road in Columbus, 1123 Goodale Blvd. in Columbus and 5235 Avery Run Road in Dublin. Gabriel Coe and Brett Hatcher of Marcus & Millichap brokered the transaction. Buyer and seller information was not provided.
NEW YORK CITY AND AUSTIN, TEXAS — CBRE Investment Management and facility operator William Warren Group have acquired a 64-property self-storage portfolio for $588 million. Austin-based World Class Holdings was the seller. The self-storage portfolio includes over 4.1 million rentable square feet across 10 states including Texas, Ohio, Illinois, Colorado, Missouri, Mississippi, Tennessee, Indiana, New York and Nevada. The properties include a total of 28,601 units. The self-storage properties will now operate under the StorQuest brand. The facilities were previously operated by Great Value Storage. The assets are primarily single-story drive-up units. The portfolio was 82 percent leased at the time of sale. “We expect these assets to add significant value to our investment stack given the high demand for self-storage facilities across multiple markets and end-users amid the pandemic,” says Justin Shanahan, deputy portfolio manager for CBRE Investment Management. “This specific portfolio offered a unique opportunity to acquire a diverse collection of facilities in various states that have strong population demographics. We believe that the portfolio is well-positioned to continue its robust leasing momentum and yield long-term profitability.” With this transaction, CBRE Investment Management, a New York City-based global real estate assets investment management firm and affiliate of Dallas-based …
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of The IN Self Storage portfolio, a collection of four facilities in the Dallas-Fort Worth metroplex. The properties total 1,041 units across 136,150 net rentable square feet and are located in Aubrey, Flower Mound, Fort Worth and Wylie. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the undisclosed seller and procured the buyer, Cohen Investment Group, in the transaction.
CHICAGO — Chicago-based Harrison Street has sold a portfolio of 12 self-storage facilities located across four states for an undisclosed price. Storage Post and Life Storage were the buyers. The portfolio consists of 625,598 rentable square feet across properties in Texas, New York, North Carolina and Illinois. Harrison Street operated the facilities in joint venture partnerships with Advantage Self Storage, Storage Post and Reliant Real Estate Management. Life Storage managed one of the properties on a third-party basis. The portfolio was 91 percent leased at the time of sale.