SOUTHLAKE, TEXAS — Dallas-based design-build firm ARCO/Murray has completed a 650-unit self-storage facility in Southlake, a northern suburb of Fort Worth. The three-story facility spans 104,000 square feet and includes a 1,300-square-foot office space and an interior loading area. The developer was The Jenkins Organization, a self-storage firm based in Houston.
SAN ANTONIO — SmartStop Self Storage, a self-managed REIT that owns 112 operating and under-development self-storage properties across 17 states and Toronto, has sold a 440-unit facility in San Antonio. The property, which spans 83,400 net rentable square feet, was acquired in January 2016 by Strategic Storage Growth Trust Inc. (SSGT) and was part of the portfolio merger between SmartStop and SSGT that was completed in January 2019. The undisclosed buyer plans to redevelop the site into a mixed-use property with office and multifamily uses.
NORTH BEND, WASH. — Marcus & Millichap has negotiated the sale of Eastside Self Storage, a 50,055-square-foot self-storage facility in North Bend. An out-of-state institutional buyer acquired the property for $12.7 million, or $253 per rentable square foot. Located at 1410 Boalch Ave. NW, the facility features 361 self-storage units spread across 6.1 acres. The asset was built in 2005. Christopher Secreto of Marcus & Millichap’s Seattle office represented the seller, a Washington-based limited liability company, and secured the buyer in the deal.
HILLSIDE, N.J. — Dallas-based design-build firm ARCO/Murray has completed a 1,200-unit self-storage facility for CubeSmart in Hillside, located just west of Newark Liberty International Airport. The six-story facility spans 145,800 square feet, features climate-controlled space and includes a 1,200-square-foot office.
PHILADELPHIA — U-Haul will open a 251,643-square-foot retail and self-storage facility in the Kensington neighborhood of Philadelphia. The facility will offer truck and trailer rental, moving supplies and climate-controlled self-storage space. On Oct. 18, Philadelphia-based general contractor Domus Construction will begin construction of the facility, which is slated for completion in December 2020. JKRP Architects designed the project.
MINEOLA, TEXAS — Marcus & Millichap has brokered the sale of KeepIt Mini Storage, a 509-unit self-storage facility in Mineola, about 80 miles east of Dallas. Built in phases between 1994 and 2017, the property comprises 116 climate-controlled units, 393 non-climate-controlled units, four uncovered parking spaces and a 1,800-square-foot business center that can be rented out on a per-day basis. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller and developer in the transaction, and procured the 1031 exchange buyer.
HIGHLAND, CALIF. — Marcus & Millichap has arranged the acquisition of International Self Storage in Highland. A local investment company purchased the asset for an undisclosed price. The 17,905-square-foot International Self-Storage features 172 non-climate-controlled, drive-up units ranging in size from four feet by four feet to eight feet by 10 feet. Additionally, the property is fully fenced and equipped with security monitoring systems, including electronic gate access and individual alarms. The property also features an on-site manager’s office with residence. Keith Phillips of The LeClaire Group of Marcus & Millichap’s Encino, Calif., office procured the buyer, while the undisclosed seller was self-represented in the deal.
BIRMINGHAM, ALA. AND COLUMBUS, GA. — BCDC and Adevco have broken ground on two Extra Space Storage facilities, one in Birmingham and one in Columbus. The property in Birmingham will feature 732 climate-controlled units across 100,050 square feet. The building will be located at 2864 Acton Road, eight miles south of downtown Birmingham. Great Southern Bank provided construction financing for the three-story building, which is scheduled for delivery in September 2020. The Extra Space in Columbus will offer 780 units in a 100,080-square-foot building located at 7350 Blackmon Road, 13 miles northeast of downtown Columbus. Georgia’s Own Credit Union provided construction financing for the facility, which is slated for completion in summer 2020.
CANTON, GA. — Bright-Meyers-Sasser Storage 1 (BMS Storage) has opened Canton Storage, a 66,608-square-foot, 583-unit facility in Canton. The property is located at 150 Reinhardt College Parkway, seven miles from Reinhardt University and three miles from Chattahoochee Technical College. Absolute Storage Management will provide management services.
TYLER, TEXAS — Marcus & Millichap has brokered the sale of a 733-unit portfolio of self-storage facilities located in and around Tyler, about 100 miles east of Dallas. The portfolio spans 103,582 net rentable square feet. Dave Knobler, Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a private investor, in the transaction. The trio also secured the buyer, a DFW-based owner-operator.
