BLOOMINGTON, ILL. — Marcus & Millichap has negotiated the sale of U-Lock-It Mini Storage, a 553-unit self-storage facility in Bloomington. The sales price was not disclosed. The property is located at 2427 S. Main St. and spans 69,110 square feet on 6.3 acres. Of the 553 units, 441 are non-climate-controlled and 112 are climate-controlled. Sean Delaney of Marcus & Millichap marketed the property on behalf of the seller, a private investor. Delaney also secured and represented the buyer, a limited liability company.
EL MIRAGE, ARIZ. — Cushman & Wakefield has brokered the $4.1 million sale of West Thunderbird Mini Storage, a self-storage facility in El Mirage. Paul Boyle and Rick Danis of Cushman & Wakefield represented the undisclosed buyer and seller in the deal. Located at 12500 W. Thunderbird Road, West Thunderbird Mini Storage totals 400 units. Built in 2002, the 45,230-square-foot property features on-site management, drive-up access, air-controlled units, perimeter fencing, gate entry, surveillance cameras and RV, car and boat parking. At the time of sale, the property was 94 percent occupied.
PLANO, TEXAS — A partnership between Dallas-based Trez Capital and Houston-based Hines has acquired a 1,603-unit self-storage facility located at 525 N Ave. in Plano. The four-building facility, which is located near the intersection of President George Bush Tollway and U.S. Highway 75, features a gross square footage of 235,400 square feet and 124 for-lease parking spaces. The new ownership plans to increase the leasable parking space by 30 to 40 percent. The transaction marks the first self-storage acquisition for the partnership, which has primarily focused on single-family development over its six-year existence.
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.