REBusinessOnline

ARCO/Murray Completes 1,100-Unit Self-Storage Development in Rochelle Park, New Jersey

ROCHELLE PARK, N.J. — Dallas-based design/build firm ARCO/Murray has completed a 1,100-unit self-storage project in Rochelle Park, about 25 miles northwest of New York City. The 120,000-square-foot property features a 2,800-square-foot office and an interior loading dock. ARCO/Murray provided a complete design-build solution, including architectural and engineering design, permitting, construction and final equipment. The developer was not

Westbridge Realty Brokers Sale of 300-Unit Self-Storage Facility in Brooklyn

NEW YORK CITY — Westbridge Realty Group has brokered the sale of a 300-unit self-storage facility located at 88 Ninth St. in the Gowanus area of Brooklyn for $6.5 million. The site spans 40,200 square feet. Alexandra Rossland and David Marciano of Westbridge represented the seller, Charles Devito of Chuck Realty Corp., in the transaction. David Marciano of Westbridge represented the buyer, Insite Property Group, a California-based self-storage operator and manager that will continue to run …

NitNeil Partners Acquires Self-Storage Facility in Metro Denver

BRIGHTON, COLO. — NitNeil Partners has purchased a self-storage property located at 850 Baseline Road in Brighton. Terms of the transaction, which is the company’s first acquisition in the metro Denver market, were not released.Situated 20 miles northeast of Denver, the single-story, drive-up facility features 450 self-storage units, totaling 64,850 rentable square feet. The property will operate under the CubeSmart

Marcus & Millichap Brokers Sale of 123-Unit Self-Storage Facility in Odessa

ODESSA, TEXAS — Marcus & Millichap has brokered the sale of Permian Storage, a 123-unit facility located in the West Texas city of Odessa. The self-storage property spans 15,513 square feet of net rentable of non-climate-controlled space, with units ranging in size from 45 to 280 square feet. Arol Horkavy and Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Other terms of sale were not

Marcus & Millichap Brokers Sale of 350-Unit Self-Storage Facility in Houston

HOUSTON — Marcus & Millichap has brokered the sale of West Bellfort Self Storage, a 350-unit facility in southwest Houston. The property was built on 4.3 acres in 2008 and features 42,925 net rentable square feet of non-climate-controlled space. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, a Houston-based limited liability company, in the transaction. A Dallas-based limited liability company purchased the asset for an undisclosed

HPI Real Estate Purchases 752-Unit Self-Storage Facility in Palm Beach County

LANTANA, FLA. — HPI Real Estate Services & Investments has purchased a 752-unit, 72,910-square-foot CubeSmart self-storage facility in Lantana. CubeSmart manages the property, which is situated at 420 N. Fourth St., 11 miles south of downtown West Palm Beach. The asset was delivered in 2018 and offers 24-hour video surveillance, climate-controlled units and elevator access. The sales price was not disclosed, though Texas-based HPI says this is the first transaction of its new self-storage …

Local Ownership Group Sells 235-Unit Lockwood Landing Self Storage & Industrial Facility in Nevada

SPARKS, NEV. — A local ownership group has completed the disposition of Landing Self Storage & Industrial, a self-storage facility located along Interstate 80 in Sparks. A Northern California-based owner-operator acquired the asset for $5.5 million.Lockwood Landing comprises 49,100 net rentable square feet of self-storage space and 28,865 net rentable square feet of industrial space on 8.7 acres. The property features six steel-frame storage buildings and three steel-frame industrial …

Strategic Storage Growth Trust Acquires 950-Unit Self-Storage Facility in Las Vegas

LAS VEGAS, NEV. — Strategic Storage Growth Trust II (SSGT II), a private real estate investment trust sponsored by an affiliate of SmartStop Self Storage REIT, has purchased a newly constructed self-storage facility in Las Vegas. Terms of the transaction were not released.Located at 5730 S. Durango Drive, the air-conditioned, 950-unit facility features 99,300 square feet of rentable space, camera surveillance, secured and alarmed doors, gated entry, LED lighting, ground-floor drive-up …

Alliant Credit Union Provides $18M Acquisition Loan for Self-Storage Portfolio in Michigan

DETROIT AND GRAND RAPIDS, MICH. — Alliant Credit Union has provided an $18 million loan for the acquisition of a six-property self-storage portfolio located in the metro Detroit and Grand Rapids areas. Pogoda Cos. was the borrower. The 10-year loan features 30 months of interest-only payments followed by a 30-year amortization schedule. Shoy McKen of Lev Capital arranged the loan with

CubeSmart Agrees to Acquire New York City Self-Storage Portfolio for $540M

NEW YORK CITY — Pennsylvania based self-storage REIT CubeSmart (NYSE: CUBE) has entered into an agreement to acquire a portfolio of eight properties in New York City from locally based developer Storage Deluxe for $540 million. The portfolio totals 780,425 net rentable square feet and consists of properties in Brooklyn, Queens and The Bronx that are already managed by CubeSmart. The deal is expected to close during the fourth quarter. CubeSmart will finance approximately 28 percent ($154.6 …

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