SPRING, TEXAS — Tampa-based SkyView Advisors has brokered the sale of Regal Self Storage, a 278-unit facility located in the northern Houston suburb of Spring. The property is situated on 1.8 acres and features 43,025 net rentable square feet. Zack Urow and Ryan Clark of SkyView Advisors represented the seller in the transaction. The buyer and other terms of sale were not
DES MOINES, IOWA — NorthMarq has secured a $4.7 million loan for the refinancing of a Broadway Storage facility in Des Moines. The 728-unit property is located at 4933 E. Broadway Ave. Jason Kinnison of NorthMarq’s Omaha office arranged the loan with a life insurance company. Terms of the loan were
INDEPENDENCE, MO. — Block & Co. Inc. Realtors has arranged the sale of a 28.6-acre self-storage property in Independence for $10 million. The facility features 741 enclosed units and 450 parking stalls. William Glasgow of Block & Co. represented the seller, Lake City U-Store. The buyer, State Storage Group Kansas City LLC, plans to modernize the entire facility with computer-automated climate control and other technological
KYLE, TEXAS — Marcus & Millichap has arranged the sale of Kyle Parkway Self Storage & Mini Offices, a 305-unit facility that spans 41,283 net rentable square feet and is located in the Central Texas city of Kyle. The property also includes seven mini-office spaces. The self-storage component consists of 138 climate-controlled units and 167 non-climate-controlled units. Jon Danklefs of Marcus & Millichap handled the transaction on behalf of the undisclosed seller. The buyer was …
MOBILE, ALA. — Metropolitan Capital Advisors (MCA) has arranged a $4 million senior construction loan for Anytime Storage, a self-storage owner and operator based in Phoenix. The company will use the loan to construct a three-story self-storage facility in Mobile comprising 466 climate-controlled units, representing the first Anytime Storage facility in Alabama. The financing features a fixed 5.05 percent interest rate and 36 months of interest-only payments followed by a 20-year amortization …
The self-storage industry started its upswing during the Great Recession as more and more Americans turned to storage units as a result of being forced to downsize or foreclose on their home, recalls Alec Pacella, president with NAI Pleasant Valley in Medina, Ohio. “That’s when the industry sparked, but it’s never stopped,” he says. There are three main reasons that the self-storage sector has continued to perform well as a commercial real estate property type, according to Pacella. …
SURPRISE, ARIZ. — Strategic Storage Trust IV, a public, non-traded REIT sponsored by an affiliate of SmartStop Self Storage REIT, has acquired a newly constructed self-storage facility in Surprise, a suburb of Phoenix. Terms of the transaction, including acquisition price and a seller’s name, were not released. The purchase of the Class A facility marks Strategic Storage Trust IV’s 22nd wholly owned property acquisition and its first property in the Phoenix area. Situated on 3.13 …
WESTHAMPTON BEACH, N.Y. — A partnership between Metro Storage LLC and Fremont Realty Capital has opened a 689-unit self-storage facility in West Hampton Beach on the eastern part of Long Island. The two-story facility, located at 105 Old Riverhead Road, offers 77,000 rentable square feet of climate-controlled space and features interior loading bays, elevators, security and a retail office. Metro Storage opened a 785-unit facility in Line Lexington, Pennsylvania at approximately the same …
LINE LEXINGTON, PA. — A partnership between Metro Storage LLC and Fremont Realty Capital (FRC) has opened a 785-unit self-storage facility in Line Lexington, located approximately 30 miles north of Philadelphia. The two-story facility, located at 4671 County Line Road, offers 79,383 rentable square feet of climate-controlled space and features interior loading bays, elevators, security and a retail office. The property is Metro’s 11th self-storage facility in
CENTRAL FALLS, R.I. — Marcus & Millichap has arranged the sale of RI Self Storage, a 458-unit facility in Central Falls, a northern suburb of Providence. Located at 817 Dexter St., the facility comprises 316 climate-controlled units, 142 non-climate-controlled units and three office and warehouse spaces totaling 37,826 net rentable square feet. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, an undisclosed private investor. Nathan Coe and …
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