PFLUGERVILLE, TEXAS — Colliers has negotiated the sale of Private Warehouse Mini Storage, a 207-unit facility located in the northern Austin suburb of Pflugerville. Built in 1995 and expanded in 1997 and 2002, the property now spans 24,000 net rentable square feet. Kyle Newswanger of Colliers represented the seller in the transaction. The buyer was an out-of-state investor. Both parties requested anonymity.
HOUSTON — Marcus & Millichap has brokered the sale of Sierra Ranch Storage, a 179-unit self-storage facility in Houston. The property was built in 2017 and spans 15,050 square feet of net rentable, climate-controlled space. Dave Knobler and Casey Kral of Marcus & Millichap represented the seller, a private investor, in the transaction. The duo also procured the buyer, a limited liability company. Both parties requested anonymity.
CHANDLER, ARIZ. — NAI Horizon has arranged the sale of American Self Storage & Mail Center, a self-storage facility located at 12220 E. Riggs Road in Chandler. Apache Junction-based Lawhead Family LLC sold the asset to Phoenix-based 535 Wilmot Investors for $8.3 million. Totaling 59,239 square feet, American Self Storage & Mail Center offers 652 units in a mix of drive-up and climate-controlled options, as well as RV parking and six commercial retail store tenants. Denise Nunez and Victoria Filice of NAI Horizon represented the seller in the transaction.
ROCHESTER, N.Y. — Marcus & Millichap has arranged the sale of Central Storage, a 348-unit self-storage facility located in the Upstate New York city of Rochester. The property is situated on 1.5 acres and offers 51,209 net rentable square feet of non-climate-controlled space. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction. John Krueger of Marcus & Millichap assisted in closing the deal as the broker of record.
SPARTA, N.J. — New York City-based Maya Capital Partners has acquired Sparta Drive-Up Storage, a self-storage facility in Sparta, located in the northern part of the state near the New Jersey-Pennsylvania border. The purchase price was approximately $6.8 million. The 505-unit facility spans 58,000 square feet and offers a combination of indoor, drive-up and climate-controlled units. Evergreen Property Advisors, an affiliate of Maya Capital Partners, will manage the property.
MEMPHIS, TENN. — An affiliate of NexPoint Advisors LP will acquire Memphis-based Jernigan Capital Inc. for $17.30 per share, or approximately $900 million, in an all-cash deal. The transaction is expected to close in the fourth quarter of this year. Under terms of the agreement, Jernigan Capital will discontinue its regular quarterly dividends and does not expect to host a conference call and webcast to discuss its financial results for the quarter ended June 30. Jernigan Capital owns more than 5 million square feet of self-storage assets in more than 20 states. NexPoint is based in Dallas and is an investment adviser to a suite of funds and investment offerings.
DALLAS — SkyView Advisors, a Tampa-based self-storage brokerage firm, has arranged the sale of a 908-unit Extra Space Storage facility located at 7701 Banner Drive in north Dallas. The property is situated on a 1.1-acre lot and spans 77,162 net rentable square feet. Ryan Clark of SkyView Advisors represented the undisclosed seller in the transaction. The buyer and sales price were also undisclosed.
ROCHELLE PARK, N.J. — Locally based development and management firm Tulfra Real Estate has begun construction of an 816-unit self-storage facility within Village Center at Rochelle Park, located northwest of New York City. The facility spans 113,000 gross square feet and is being constructed on a 1.4-acre site that formerly housed an AT&T data center. Mancini Duffy is designing the project, and The Lane Group is the general contractor. Completion is slated for the first quarter of next year.
TULSA, OKLA. — Jared Jones, the Argus Self Storage Advisor for Oklahoma, has brokered the sale of South Park Mini Storage, a self-storage facility in Tulsa that spans 29,857 net rentable square feet across roughly 500 units. The original developer sold the property to a private buyer that will implement a value-add program.
SANTA FE, N.M. — Dah Commercial has purchased Wagon Self Storage, located at 2 Emblem Road in Santa Fe, for an undisclosed price. The buyer has rebranded the self-storage facility as Mini U Storage. Originally built in 2009 and expanded in 2016, the property features 63,726 rentable square feet. The facility offers 611 climate-controlled units, recreational vehicle spaces and 42 wine storage units. The buyer is a national real estate investment and asset management company that has developed, acquired and/or managed more than $300 million of self-storage facilities. Adam Schlosser of Marcus & Millichap’s Denver office and Charles LeClaire of Marcus & Millichap’s LeClaire Group represented the seller, a local limited liability company, in the deal.