Self-Storage

SAN ANTONIO — San Francisco-based mortgage banking firm Gantry has placed a $12 million loan for the refinancing of Lockaway Storage, a 716-unit facility in San Antonio. Built in 2018, the property spans 140,285 net rentable square feet and offers climate- and non-climate-controlled units, mini-office and warehouse spaces and oversized vehicle parking spaces. Tom Dao and Joe Foley of Gantry arranged the fixed-rate loan, which carries a five-year term and a 25-year amortization schedule, through an undisclosed life insurance company. The borrower was also not disclosed.

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ATHENS, ALA. — U-Haul plans to build a new retail, moving and self-storage property on a 5.3-acre site at 16298 Athens-Limestone Blvd. in Athens, about 27 miles east of Huntsville, Ala. Set to open in 2026 along I-65, the three-story property will feature 1,100 indoor self-storage units, more than half of which will be climate-controlled. Amenities will include access to moving trucks, trailers, towing devices, U-Box containers, professional hitch installation, propane refills and propane exchange. The property will also feature a retail showroom that will sell boxes and moving supplies, bike racks, towing accessories and locks. Additionally, U-Haul Moving & Storage in Athens will feature a U-Box warehouse that will hold up to 1,000 portable moving and storage containers. The new facility will represent the first location in Athens for U-Haul.

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LIBERTY HILL, TEXAS — New York City-based Andover Properties has completed a 137-unit self-storage expansion project at its Storage King facility located at 14774 W. State Highway 29 in Liberty Hill, about 35 miles north of Austin. The project increased the facility’s existing volume of climate-controlled space by 20,201 net rentable square feet, or 75 percent. The expansion also created options for boat and RV storage, with spaces ranging in size from 12 x 40 feet to 12 x 25 feet.

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5620-5622-S-Kelly-Ave-Portland-OR

PORTLAND, ORE. — Norris & Stevens has arranged the sale of a mini-storage warehouse, located at 5620-5622 S. Kelly Ave. in Portland. Ronald A. Buss and Teresa McCurdy sold the asset to Macadam Moving LLC for $1.6 million. Constructed in 1964 as a warehouse and renovated into a self-storage facility in 1998, the 17,322-square-foot property offers 168 individuals storage units, four office/retail spaces and a freight elevator. Greg Nesting and Gabe Schnitzer of Portland-based Norris & Stevens represented the seller, while Jason Kennedy of RE/MAX Equity Group represented the buyer in the deal.

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AMARILLO, TEXAS — Marcus & Millichap has brokered the sale of Advantage Storage, a 432-unit self-storage facility in Amarillo. Built in 2019, the facility totals 84,475 net rentable square feet across 226 climate-controlled units, 181 non-climate units, 13 enclosed parking spaces and 12 warehouse units. Gabriel Coe, Nathan Coe, Brett Hatcher and Garret Nelson of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was an out-of-state REIT that also requested anonymity.

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SAN PABLO, CALIF. — Colliers has brokered the sale of San Pablo Mini Storage, a self-storage facility located at 5310 Riverside Ave. in the Bay Area city of San Pablo. The Reeves Family Trust sold the property to Merit Hill Capital for an undisclosed price. Jacob Becher of the de Jong | Becher Self-Storage Team of Colliers represented the seller and procured the buyer in the deal.   Situated on 2.4 acres, the 11-building San Pablo Mini Storage features 50,503 square feet of rentable space and 522 units. At the time of sale, the property was 83 percent occupied.

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FARMINGTON AND CANTON, ILL. — Newmark has brokered the $1.6 million sale of a self-storage portfolio in Farmington and Canton, about 25 miles west of Peoria. The four-building portfolio totals 35,650 square feet and includes a primary facility as well as three satellite buildings. Kris Parker of Newmark represented the seller, Simple Self Storage LLC, and the buyer, Prime Space Storage LLC.

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2515-S-Broadway-Los-Angeles-CA

LOS ANGELES — Seven Hills Realty Trust (SEVN) has secured $23.8 million floating-rate first mortgage loan to recapitalize a self-storage facility located at 2515 S. Broadway in Los Angeles. Staley Point Capital is the borrower. The Extra Space Storage-branded facility offers 80,000 square feet of self-storage space. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by JLL, which advised Staley Point Capital.

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CORPUS CHRISTI, TEXAS — Self-storage brokerage firm Versal has arranged the sale of a 306-unit facility in Corpus Christi. The property spans 41,848 net rentable square feet. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Andover Properties, which operated the facility under its Storage King USA brand, in the transaction. The team also procured the buyer, an undisclosed, publicly traded REIT.

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DAVENPORT, FLA. — Eastern Union has arranged a $10.1 million loan for the ground-up construction of a self-storage facility in Davenport, roughly 65 miles east of Tampa. Marc Tropp of Eastern Union secured the four-year loan on behalf of the undisclosed borrower. The lender was also not disclosed. Upon completion, the development will comprise 690 units across five stories, with a gross square footage of 103,020 square feet and 76,431 square feet of rentable space. Malvern, Pa.-based CubeSmart will operate the facility.

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