CEDAR PARK, TEXAS — Dallas-based self-storage investment firm Montfort Capital Partners has purchased A3 Storage Centers, a 494-unit facility in Cedar Park, a northern suburb of Austin. The property was built on 5.6 acres in 1994 and spans 48,235 net rentable square feet. Jon Danklefs of Marcus & Millichap represented Montfort Capital, which plans to rebuild the leasing office and add a new climate-controlled building later this year, in the transaction. The seller was not disclosed.
BURLESON, TEXAS — Self-storage brokerage firm Bellomy & Co. has arranged the sale of I-35 Storage in Burleson, a southern suburb of Fort Worth. The property spans 55,531 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a locally based limited liability company, in the transaction. Aaron Palmer of Modern Mountain Real Estate represented the buyer, Raleigh, N.C.-based 10 Federal.
RED OAK, IOWA — Bellomy & Co. has brokered the sale of Hawkeye Storage in western Iowa’s Red Oak for an undisclosed price. The Class B self-storage facility includes 189 units and spans 29,120 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy represented the seller, THR Storage LLC. The duo also procured the buyer, Dougherty Storage LLC.
LAREDO, TEXAS — Berkshire Hathaway Storage Group has brokered the sale of the Laredo Storage Portfolio, a collection of self-storage facilities in the Rio Grande Valley. The portfolio consists of an undisclosed number of properties that are situated on a combined 6.8 acres and that feature 1,044 units across 138,980 net rentable square feet. A locally based seller sold the portfolio to an institutional private equity firm for an undisclosed price. Josh Cato, Cameron Vale and Parker Sweet of Berkshire Hathaway Storage Group brokered the deal.
CLEVELAND — Compass Self Storage has acquired several self-storage centers that in total added over 183,000 net rentable square feet to the firm’s portfolio. The newest storage units are located at 9085 SW State Road 200 in Ocala, Fla.; 3300 Jodeco Road and 3497 Jodeco Road in McDonough, Ga.; and 5A Estate Drive in Bluffton, S.C. These three acquisitions bring Compass’ total property count to 98. Compass Self Storage has plans to upgrade all three properties, including upgraded security by offering smart locks, high definition video, lighting and individual access control. Compass Self Storage will also offer onsite truck rental services. These Compass Self Storage locations, as well as all Compass Self Storage centers nationwide, now offer contactless rentals. Compass Self Storage is a member of Cleveland-based Amsdell Cos. The three Southeast acquisitions were made by separate affiliates of Amsdell Group LLC and Compass Self Storage LLC. The sellers and sales prices were not disclosed.
AMARILLO, TEXAS — Watchman Properties has sold Amarillo Lock Storage, a 238-unit self-storage facility in northwest Texas. The property spans 42,150 net rentable square feet. An undisclosed national REIT purchased the asset for an undisclosed price. Andrew Plunkett, Cameron Vale and Parker Sweet of Berkshire Hathaway Storage Group brokered the deal.
SPRING, TEXAS — Marcus & Millichap has brokered the sale of A-1 Mini Storage, a 280-unit self-storage facility in the northern Houston suburb of Spring that primarily offers climate-controlled space in. Brandon Karr, Danny Cunningham and Dave Knobler of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Other terms of sale were not disclosed.
BRENTWOOD, N.H. — Marcus & Millichap has brokered the sale of Creative Self Storage, a 391-unit facility in Brentwood, located in the southern part of the state. The property features 58,064 net rentable square feet across 357 non-climate-controlled units and 34 climate-controlled units. Nathan Coe, Brett Hatcher, Gabriel Coe and James Koury of Marcus & Millichap represented the seller in the transaction. Additional terms of sale were not disclosed.
ANDOVER, MASS. — Tampa-based SkyView Advisors has arranged the sale of a 470-unit self-storage facility located at 17 Dundee Park Drive in Andover, a northern suburb of Boston. The property is situated on 1.5 acres and spans 65,836 net rentable square feet. Richard Riddle and Ryan Clark of SkyView Advisors represented the seller in the transaction. Additional terms of sale were not disclosed.
LOS ANGELES — JLL Capital Markets has arranged a $140 million credit facility with the ability to expand up to $215 million for Los Angeles-based InSite Property Group. The facility will fund InSite’s development pipeline of Class A self-storage facilities across the nation. ACORE Capital provided the floating-rate loan, which was arranged by Bill Fishel, Matt Stewart and Chad Morgan of JLL Capital Markets, along with Brian Somoza, Steve Mellon and Griffin Guthneck of JLL’s national self-storage team. The financing is part of the InSite’s ongoing acquisition, development and repositioning strategy that includes a pipeline of 40 projects totaling nearly 5 million square feet of core, Class A product in infill markets across the United States. The company operates facilities under the Secure Space Self Storage brand.