SEGUIN, TEXAS — Bellomy & Co., a self-storage brokerage firm based in Austin and Houston, has negotiated the sale of K2 Storage, a 321-unit facility located about 35 miles northeast of Austin in Seguin. The property spans 53,650 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the Texas-based seller, KTCK2 Management LLC, in the transaction. The duo also procured the New York-based buyer, an entity doing business as AGAP Seguin Lettau LLC.
ATHENS, ALA. — Marcus & Millichap has brokered the sale of a 460-unit self-storage facility located in Athens. The sales price was not disclosed. The storage facility is located approximately 25 miles from Huntsville. The facility features 356 climate-controlled units and 104 non-climate-controlled units. The 60,234-square-foot facility was recently delivered and is not open for public use as of this writing. Gabriel Coe, Brett Hatcher and Eddie Greenhalgh of Marcus & Millichap represented the seller in the transaction, and the buyer was self-represented. Both the buyer and seller requested anonymity.
ROSLYN HEIGHTS, N.Y. — A joint venture between New Jersey-based developer The Hampshire Cos. and Blumenfeld Development Group has begun construction on a 691-unit self-storage facility in Roslyn Heights, located on Long Island. Extra Space Storage will manage the property, the site of which formerly housed a manufacturing plant. The facility, which will be the 44th property developed by Hampshire Cos. for Extra Space Storage in the eastern part of the country, is scheduled for completion in the second quarter of 2022.
CHULA VISTA, CALIF. — Buchanan Street Partners has purchased a newly constructed self-storage asset located at 3296 Heritage Road in Chula Vista. HomeFed Corp. sold the property for $26.4 million in an off-market transaction. The facility offers 95,000 square feet of climate-controlled self-storage units. The property received its certificate of occupancy in April 2021, and Buchanan Street acquired the asset during early lease up. William Warren Group will serve as property manager and will rebrand the facility under the StorQuest flag.
SANTA FE, ALBUQUERQUE AND RIO RANCHO, N.M. — Titan Development has completed the disposition of four self-storage assets in New Mexico. Extra Space Storage Inc. (NYSE: EXR) acquired the 380,000-square-foot portfolio for an undisclosed price. The properties are the 88,000-square-foot Extra Space Storage Vegas Verde and the 101,000-square-foot Extra Space Storage Rodeo Business Park in Santa Fe; the 103,000-square-foot Extra Space Storage Ladera Road and Unser Boulevard in Albuquerque; and the 88,000-square-foot Extra Space Storage Corrales and 528 in Rio Rancho. The facilities were the final four self-storage assets within Titan’s inaugural fund, Titan Real Estate Development Fund I (TDREF I), a $112 million private-equity real estate fund established in 2017 to raise and invest capital in $350 million of Titan’s investment opportunities across the industrial, multifamily, self-storage and seniors housing sectors.
CORPUS CHRISTI, TEXAS — Bellomy & Co. has arranged the sale of Space Self Storage, a 300-unit facility in Corpus Christi. The property spans 40,948 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, an Austin-based entity doing business as Divisidero Property LLC. The duo also procured the buyer, New York-based Andover Properties.
ALEXANDRIA, VA. — JLL has brokered the sale of Oakville Self Storage, a 934-unit self-storage facility in Alexandria, about 8.3 miles north of Washington, D.C. The sales price was not disclosed. An entity doing business as Potomac Yard Mini U Storage LLC in partnership with Elevation Fund 8 LLC has bought the facility. Brian Somoza, Steve Mellon, Bruce Strasburg and Craig Childs of JLL represented the seller, an institutional investor. Built in 1949, Oakville Self Storage is a three-story building that was converted to a self-storage facility in 1989. The property is now operating under the Mini U Storage brand. The property features non-climate-controlled interior units, dock-high drive-up units and elevator access to upper floors. The facility is roughly 79 percent leased with over 675 tenants. Located at 405 Swann Ave., Oakville Self Storage is situated in the center of Oakville Triangle, a master-planned, 1 million-square-foot mixed-use redevelopment comprising Class A multifamily, townhomes, retail and healthcare properties. The self-storage facility will undergo exterior and interior renovations, including a complete exterior upgrade and the addition of a new office space and climate-controlled units. The facility will remain open throughout construction. BWD Architects is the design firm for the renovation project.
AUSTIN, TEXAS — Chatham Lodging Trust (NYSE: CDLT) has acquired two Marriott-branded hotels totaling 269 rooms near The Domain in North Austin for $71.2 million, or approximately $265,000 per room. The purchased hotels include the 132-room Residence Inn Austin Domain that opened in July 2016 and the 137-room TownePlace Suites by Marriott that opened in June 2021. Island Hospitality Management will manage the hotels. The seller(s) was not disclosed.
IRVING, TEXAS — Bellomy & Co. has negotiated the sale of a 609-unit self-storage facility in Irving that is operated by Pennsylvania-based REIT CubeSmart. The property features 66,698 net rentable square feet and was 97 percent occupied at the time of sale. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a locally based entity doing business as 3450 Willow Creek LLC, and procured the buyer, New York-based Andover Properties.
TOMBALL, TEXAS — Marcus & Millichap has brokered the sale of a 597-unit facility located in the northern Houston suburb of Tomball. The property was built on 5.5 acres in 1998, consists of 70,100 net rentable square feet and features a relatively even mix of climate- and non-climate-controlled space. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a family trust, in the transaction. A California-based corporation purchased the asset for an undisclosed price.