PHILADELPHIA — Inland Real Estate Investment Corp. and Devon Self Storage, which are both part of The Inland Real Estate Group of Cos., have completed a redevelopment project at 5200 Unruh Ave. in northeast Philadelphia. The project converted the former Moulton Ladder Manufacturing Co. facility, which was first built in 1900 adjacent to the Delaware River, into a self-storage facility. The five-story building features 88,000 net rentable square feet of climate-controlled space across 932 units.
PLYMOUTH, MICH. — Marcus & Millichap has brokered the sale of EZ Storage, a 635-unit self-storage facility in the western Detroit suburb of Plymouth. Completed in December 2022, the climate-controlled property totals 73,450 net rentable square feet. Brett Hatcher, Gabriel Coe and Nathan Coe of Marcus & Millichap, in association with Paul Kerber, Marcus & Millichap’s Michigan broker of record, represented the seller, an entity doing business as EZ Storage Plymouth Twp LLC. The buyer was not disclosed.
KILLEEN AND EDINBURG, TEXAS — Marcus & Millichap has brokered the sale of two Texas self-storage facilities totaling 802 units. Hallmark Mini Storage, located in the Central Texas city of Killeen, was built on 2.4 acres in 2002 and totals 36,350 net rentable square feet of space across eight buildings and 275 units. Superior Self Storage, located in the Rio Grande Valley city of Edinburg, was built on 3.9 acres in 2004 and totals 50,692 net rentable square feet of space across seven buildings and 527 units. The properties traded as part of a portfolio deal that included a 294-unit facility in Las Cruces, N.M. Stacey Gorman, Sam Slocum and Grace Folger of Marcus & Millichap represented the undisclosed seller in the transaction. The trio also collaborated with Marcus & Millichap’s Cameron Bradford to procure the buyers. An undisclosed investment group purchased Hallmark Mini Storage, and Wentworth Property Co. bought Superior Self Storage.
MOUNT KISCO, N.Y. — JLL has brokered the sale of a 598-unit self-storage facility in Mount Kisco, about 45 miles north of Manhattan. CubeSmart operates the facility at 140 Radio Circle, which was completed in 2024 and spans 64,130 net rentable square feet, the majority of which (92 percent) is climate-controlled space. Guthrie Garvin led the JLL team that represented the seller, DHIP Group, in the transaction and procured the buyer, an affiliate of New York City-based investment firm Andover Properties. The facility was 57 percent occupied at the time of sale. The sales price was not disclosed.
MESQUITE, NEV. — TK Storage has completed the sale of Pioneer Square, a 52,195-square-foot self-storage facility in Mesquite. A regional operator acquired the asset for an undisclosed price. Built in 2015 on 2.8 acres, Pioneer Storage offers 285 self-storage units across eight single-story self-storage buildings including 161 drive-up units. The property features a gated entry with digital keypad, an onsite management office in front of the entrance gate, 24/7 video surveillance throughout the facility, concrete driveways and units with roll-up doors. Jordan Farrer of The LeClaire-Schlosser Group of Marcus & Millichap represented the seller in the transaction.
HOMESTEAD, FLA. — Marcus & Millichap Capital Corp. (MMCC) has secured $14.5 million in construction financing for the development of a 1,038-unit self-storage facility at 1995 N.E. 8th St. in Homestead, about 32 miles south of Miami. The 135,800-square-foot property will operate as an Extra Space Storage facility. Robert Bhat of MMCC’s Miami office arranged the five-year loan through a local bank on behalf of the borrower, an undisclosed self-storage developer. The loan features a floating interest rate underwritten as 250 basis points above 1-month SOFR for the first three years with 36 months of interest-only payments.
NEW YORK CITY — Affinius Capital has provided a $120 million loan for the refinancing of the Prime NYC Self-Storage Portfolio, a collection of three self-storage facilities totaling 7,230 units in New York City. The names and addresses of the properties, which exclusively offer climate-controlled space, were not disclosed, but the locations span Brooklyn, Queens and The Bronx. Drew Anderman of CBRE arranged the loan through Affinius Capital on behalf of the owner, Prime Group Holdings. Miami-based lender 3650 Capital provided an undisclosed amount of junior mezzanine financing for the deal.
OAK HARBOR, WASH. — Spartan Investment Group, along with its in-house development team Spartan Construction Management, has completed FreeUp Storage Oak Harbor, a ground-up self-storage project at 33650 State Route 20 in Oak Harbor. The 78,920-square-foot facility offers 583 units across eight buildings. FreeUp Storage, Spartan’s owned and operated brand of self-storage facilities, will manage the property.
TOPEKA, KAN. — Marcus & Millichap has brokered the sale of a two-property self-storage portfolio with 580 units in Topeka. Located at 3200 S. Kansas Ave. and 235 SW Gage Blvd., the facilities total 67,721 rentable square feet. The properties are 84 percent occupied and include climate-controlled and non-climate-controlled units, outdoor parking and portable units. Sean Delaney and Colby Haugness of Marcus & Millichap represented the Utah-based seller and procured the buyer, a Pennsylvania-based owner that engaged KO Storage to manage the portfolio moving forward.
ROSENBERG, TEXAS — Nashville-based brokerage firm Matthews Real Estate Investment Services has arranged the sale of Big Lenny’s Storage, a 182-unit self-storage facility in Rosenberg, a southwestern suburb of Houston. The facility was built in 1979 and spans 33,400 net rentable square feet of primarily non-climate-controlled space. Austin McLeod of Matthews represented the seller in the transaction. Texas-based owner-operator Curio Storage purchased the facility for an undisclosed price.
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