Monday, December 23, 2024
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Self-Storage

Trojan-Storage-San-Jose-CA
CaliforniaIndustrialLoansSelf-StorageWestern

Gantry Secures $70M in Refinancing for Four Trojan Storage Properties in California

by Amy Works

SAN JOSE, CAMPBELL, RANCHO CORDOVA AND CAMARILLO, CALIF. — Gantry has secured a $70 million structured permanent loan to retire existing construction/bridge debt and recapitalize four recently completed developments/value-add self-storage facilities in Southern and Northern California. The four properties, which are currently undergoing initial lease-ups, include Trojan Storage San Jose, Trojan Storage Campbell, Trojan Storage Rancho Cordova and Trojan Storage Camarillo. Andy Bratt, Amit Tyagi and Sean Kuang of Gantry represented the borrower, Trojan Storage. The loan, which was secured through one of Gantry’s life company relationships, features a fixed rate with a lengthy interest-only period during the term.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialLoansNew JerseyNortheastSelf-Storage

Fulton Bank Provides Construction Loan for 795-Unit Self-Storage Project in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — Fulton Bank has provided a construction loan of an undisclosed amount for Phase I of Liberty Storage Center, a 795-unit  project in Jersey City. The six-story facility will be located at 300 Thomas McGovern Drive and will span 103,500 net rentable square feet of climate-controlled space. Michael Klein and Jon Mikula of JLL placed the loan with Fulton Bank on behalf of the borrower, locally based developer Tulfra Real Estate. Liberty Storage Center will ultimately feature 260,000 net rentable square feet of product that will be developed in three phases. Public Storage will be the operator.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialMassachusettsNortheastSelf-Storage

Marcus & Millichap Brokers Sale of 198-Unit Self-Storage Facility on Nantucket

by Taylor Williams

NANTUCKET, MASS. — Marcus & Millichap has brokered the sale of Old South Storage, a 198-unit facility on Nantucket, an island off the coast of Massachusetts. The property was built in 2018 and spans 17,344 net rentable square feet of climate-controlled space. Michael Palladino, Kevin Bledsoe and Matthew Junkin of Marcus & Millichap represented the undisclosed seller in the transaction. The sales price was $5.6 million, and the buyer was also undisclosed. Thomas Shihadeh of Marcus & Millichap assisted in closing the deal as the broker of record.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaSelf-StorageSoutheast

DXD Capital, Olympus Ventures Complete 774-Unit Self-Storage Facility in Miami

by John Nelson

MIAMI — A partnership between DXD Capital and Olympus Ventures has completed a 774-unit, three-story self-storage facility located at 11210 N.W. 105th St. in Miami. Extra Space Storage manages the facility, which spans 74,388 net rentable square feet. ARCO was the general contractor for the climate-controlled storage property, and TBK Bank provided an undisclosed amount of construction financing.

Continue Reading
FacebookTwitterLinkedinEmail
11999-Highway-267-Truckee-CA
AcquisitionsCaliforniaIndustrialLoansSelf-StorageWestern

Marcus & Millichap Secures $19.4M in Acquisition Financing for Self-Storage Facility in Truckee, California

by Amy Works

TRUCKEE, CALIF. — Marcus & Millichap has secured $19.4 million in financing for the acquisition of a self-storage facility in Truckee. Joel Westle of Marcus & Millichap Capital Corp.’s San Francisco office arranged the 10-year loan on behalf of Airport Self Storage. The 54,000-square-foot property is located at 11999 Highway 267 near the Truckee Tahoe Airport.

Continue Reading
FacebookTwitterLinkedinEmail
Devon-Self-Storage-Lubbock
DevelopmentIndustrialSelf-StorageTexas

Inland Private Capital, Devon Deliver 844-Unit Self-Storage Facility in Lubbock

by Taylor Williams

LUBBOCK, TEXAS — Inland Private Capital Corp. and Devon Self Storage, which are both part of The Inland Real Estate Group of Cos., have completed an 844-unit facility in Lubbock. The site at 2010 Avenue R formerly housed an AT&T processing center. The four-story, elevator-served facility features 85,300 net rentable square feet of 100 percent climate-controlled storage space, as well as an exterior staging area that allows controlled access to elevators on each floor and drive-up unit capability.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialLoansNew JerseyNew YorkNortheastSelf-Storage

JLL Arranges $115M Loan for Refinancing of New York, New Jersey Self-Storage Portfolio

by Taylor Williams

NEW YORK CITY — JLL has arranged a $115 million loan for the refinancing of a portfolio of nine self-storage properties that are located in various areas of New York and New Jersey. The portfolio spans 723,664 net rentable square feet across 9,578 units. Properties are located in The Bronx, Floral Park, Garden City, Huntington Station and Yorktown Heights areas of New York and in the New Jersey communities of Haledon, Elizabeth, Linden and Perth Amboy. Steven Klein and Robert Tonnessen of JLL arranged the loan through Nuveen Real Estate on behalf of the borrower, Atlanta-based owner-operator Storage Post. Specific loan terms were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialMidwestSelf-StorageWisconsin

Marcus & Millichap Negotiates $2.3M Sale of Self-Storage Facility in Janesville, Wisconsin

by Kristin Harlow

JANESVILLE, WIS. — Marcus & Millichap has negotiated the $2.3 million sale of Interstate Secure Storage, a 233-unit self-storage facility in the Milwaukee suburb of Janesville. Built in 2015, the property totals 44,250 rentable square feet. There are expansion plans for two additional buildings totaling 25,950 square feet. Dan Bowar of Marcus & Millichap represented the buyer, Hastings Property Group LLC. The seller was undisclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMississippiSelf-StorageSoutheastTennessee

Gelt Ventures Sells 3,999-Unit Self-Storage Portfolio in Tennessee and Mississippi

by John Nelson

LOS ANGELES — Gelt Ventures LLC has sold an eight-property self-storage portfolio in Tennessee and Mississippi totaling 3,999 units. The facilities are mostly situated in the metro Memphis market, with five assets in Memphis, two in Olive Branch, Miss., and one in Nesbit, Miss. Canadian-based investor Minimal Storage Properties purchased the 487,000-square-foot portfolio for an undisclosed price. Gelt Ventures originally acquired the portfolio in June 2020 for $41 million. The single-story properties were built between 1972 and 2006 and feature commercial office space, manager’s apartments and a mix of drive-up, indoor and climate-controlled units averaging 141 square feet in size. During its ownership period, Los Angeles-based Gelt Ventures carried out capital improvements on the self-storage assets, improved the tenant mix and implemented a revenue management strategy.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 260-Unit Self-Storage Facility in Hughes Springs, Texas

by Taylor Williams

HUGHES SPRINGS, TEXAS — Marcus & Millichap has brokered the sale of a 260-unit self-storage facility in Hughes Springs, about 140 miles east of Dallas. The facility was built in 2019 and totals 54,100 net rentable square feet, including 20 RV/boat storage spaces. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a local developer, in the transaction and procured the buyer, a Dallas-based investment company.  Both parties requested anonymity.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts