SPRING, TEXAS — Marcus & Millichap has brokered the sale of Redline Storage, a 145-unit self-storage facility located in the northern Houston suburb of Spring. The property spans 28,248 net rentable square feet. Dave Knobler of Marcus & Millichap represented the seller, a private investor, in the transaction and procured the buyer, a limited liability company based in the area. Redline Storage was close to full occupancy at the time of sale.
FORNEY, TEXAS — Marcus & Millichap has brokered the sale of Town & Country Self-Storage, a 204-unit facility in Forney, located east of Dallas. The facility spans 20,311 net rentable square feet. Roger Hendricks of Marcus & Millichap represented the seller, a private investor, in the transaction. Hendricks also procured the buyer, a limited liability company. Both parties requested anonymity.
INDIANAPOLIS — U-Haul has transformed a former Kmart property located at 7425 E. Washington St. in Indianapolis into a self-storage facility. The 178,963-square-foot building now holds 598 climate-controlled units. Customers also have access to moving supplies and U-Box portable storage containers. U-Haul also plans to offer outdoor self-storage at the 12.5-acre site. Originally constructed in 1969, the building had stood vacant since 2014.
BOTHELL, WASH. — Marcus & Millichap has brokered the $6 million sale of Affordable Self Storage, a 38,725-square-foot facility in Bothell. Christopher R. Secreto of Marcus & Millichap’s Seattle office marketed the 290-unit property on behalf of the seller, a partnership based in Washington, and secured the unnamed buyer. Affordable Self Storage is located at 1621 196th St. SE. The facility was built in 1983 on a two-acre lot.
PITTSBURGH — Marcus & Millichap has negotiated the sale of Camp Horne Self Storage, a facility in Pittsburgh that includes 52,344 square feet of net rentable space across 447 units. The property was built in 2004 on 4.4 acres and was 94 percent occupied at the time of sale. Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and buyer, both of which were undisclosed limited liability companies, in the transaction. Sean Beuche, a regional manager with Marcus & Millichap, assisted in closing the deal.
ESCONDIDO, CALIF. — StorQuest Self Storage has opened a new facility on 222 W. Mission Ave. in downtown Escondido. Set on 1.57 acres, the four-story structure spans 70,000 square feet with 810 rentable units. Features include climate-controlled units, extended access hours, electronic gate access, online bill payment and month-to-month rentals.
TEXAS — Self-storage owner-operator Locktite Storage has sold a portfolio of nine facilities totaling 4,835 units that are located throughout Texas. Specifically, the properties are located in the southeastern and south central cities of Dripping Springs, Wimberly, Seguin, Conroe, Houston, Deer Park, La Porte, Pasadena and Manvel, and offer a total of 684,000 net rentable square feet. Steve Mellon and Brian Somoza of JLL represented Locktite Storage in the transaction. National Storage Affiliates purchased the portfolio for an undisclosed price.
REDDING, CALIF. — The Loeffler Self-Storage Group has facilitated the sale of Best Value Storage, a self-storage facility located along Lake Boulevard in Redding. California-based CP Partners sold the property to a local owner-operator for $6.9 million. Situated on 5.3 acres, Best Value Storage features 64,797 net rentable square feet and 521 self-storage units. The property consists of 15 single-story buildings, a manager’s office and two living quarters. At the time of sale, the property was 100 percent leased. Bobby Loeffler and Tyler Skelly of Loeffler Self-Storage Group represented the seller in the deal.
HOUSTON — Strategic Storage Growth Trust II Inc., a private real estate investment trust sponsored by SmartStop Asset Management LLC, has acquired a 637-unit facility in Houston. The property, the name of which was not disclosed, features climate-controlled and drive-up units. The new ownership also notes that the facility is located within an area with a high concentration of multifamily and retail development. The transaction marks the REIT’s third acquisition.
SPICEWOOD, TEXAS — Marcus & Millichap has arranged the sale of A-Max Self Storage, a 320-unit facility in Spicewood, about 35 miles west of Austin. The property is located along State Highway 71 and features 47,530 square feet of rentable space. Jon Danklefs and Mark Diebold of Marcus & Millichap represented the seller, a partnership, and procured the buyer, a limited liability company. Both parties requested anonymity.