ALBUQUERQUE — The LeClaire-Schlosser Group of Marcus & Millichap has arranged the sale of Storage Bank, a self-storage facility located on San Pedro Boulevard in Albuquerque. A local limited liability company sold the asset to a national self-storage operator for an undisclosed price. The two-story, climate-controlled facility features a 24-hour surveillance system monitoring all entrances, two loading areas at the rear of the property, a commercial lift to access the second floor and an on-site manager’s apartment. Additionally, the asset features a ground-level retail space that a packing and shipping business occupies. Thomas Parsons, Adam Schlosser and Charles LeClaire of Marcus & Millichap represented the seller in the deal.
ROCHELLE PARK, N.J. — Dallas-based design/build firm ARCO/Murray has completed a 1,100-unit self-storage project in Rochelle Park, about 25 miles northwest of New York City. The 120,000-square-foot property features a 2,800-square-foot office and an interior loading dock. ARCO/Murray provided a complete design-build solution, including architectural and engineering design, permitting, construction and final equipment. Quinlan Development Group developed the project.
NEW YORK CITY — Westbridge Realty Group has brokered the sale of a 300-unit self-storage facility located at 88 Ninth St. in the Gowanus area of Brooklyn for $6.5 million. The site spans 40,200 square feet. Alexandra Rossland and David Marciano of Westbridge represented the seller, Charles Devito of Chuck Realty Corp., in the transaction. David Marciano of Westbridge represented the buyer, Insite Property Group, a California-based self-storage operator and manager that will continue to run the facility.
BRIGHTON, COLO. — NitNeil Partners has purchased a self-storage property located at 850 Baseline Road in Brighton. Terms of the transaction, which is the company’s first acquisition in the metro Denver market, were not released. Situated 20 miles northeast of Denver, the single-story, drive-up facility features 450 self-storage units, totaling 64,850 rentable square feet. The property will operate under the CubeSmart brand.
ODESSA, TEXAS — Marcus & Millichap has brokered the sale of Permian Storage, a 123-unit facility located in the West Texas city of Odessa. The self-storage property spans 15,513 square feet of net rentable of non-climate-controlled space, with units ranging in size from 45 to 280 square feet. Arol Horkavy and Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Other terms of sale were not disclosed.
HOUSTON — Marcus & Millichap has brokered the sale of West Bellfort Self Storage, a 350-unit facility in southwest Houston. The property was built on 4.3 acres in 2008 and features 42,925 net rentable square feet of non-climate-controlled space. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a Houston-based limited liability company, in the transaction. A Dallas-based limited liability company purchased the asset for an undisclosed price.
LANTANA, FLA. — HPI Real Estate Services & Investments has purchased a 752-unit, 72,910-square-foot CubeSmart self-storage facility in Lantana. CubeSmart manages the property, which is situated at 420 N. Fourth St., 11 miles south of downtown West Palm Beach. The asset was delivered in 2018 and offers 24-hour video surveillance, climate-controlled units and elevator access. The sales price was not disclosed, though Texas-based HPI says this is the first transaction of its new self-storage acquisition fund, which will acquire more than $125 million of assets over the next 12 months. According to Jon Erickson and Jonathan Vollinger of HPI, the all-cash deal closed in 37 days. Zack Urow and Richard Riddle of SkyView Advisors represented the seller, Florida-based Acorn Mini Storage, in the transaction.
SPARKS, NEV. — A local ownership group has completed the disposition of Landing Self Storage & Industrial, a self-storage facility located along Interstate 80 in Sparks. A Northern California-based owner-operator acquired the asset for $5.5 million. Lockwood Landing comprises 49,100 net rentable square feet of self-storage space and 28,865 net rentable square feet of industrial space on 8.7 acres. The property features six steel-frame storage buildings and three steel-frame industrial buildings with asphalt drive aisles, plus a manager’s office and living quarters. At the time of sale, the storage buildings were approximately 84 percent occupied and the industrial buildings were 100 percent occupied. Bobby Loeffler and Tyler Skelly of The Loeffer Self-Storage Group represented the seller in the deal.
LAS VEGAS, NEV. — Strategic Storage Growth Trust II (SSGT II), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, has purchased a newly constructed self-storage facility in Las Vegas. Terms of the transaction were not released. Located at 5730 S. Durango Drive, the air-conditioned, 950-unit facility features 99,300 square feet of rentable space, camera surveillance, secured and alarmed doors, gated entry, LED lighting, ground-floor drive-up units, interior climate-controlled units with two easily accessible large capacity elevators, and covered exterior parking for RV/boats. The acquisition represents SSGT II’s first purchase in Las Vegas and the ninth property owned or managed by SmartStop in the Las Vegas market.
DETROIT AND GRAND RAPIDS, MICH. — Alliant Credit Union has provided an $18 million loan for the acquisition of a six-property self-storage portfolio located in the metro Detroit and Grand Rapids areas. Pogoda Cos. was the borrower. The 10-year loan features 30 months of interest-only payments followed by a 30-year amortization schedule. Shoy McKen of Lev Capital arranged the loan with Alliant.