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Self-Storage

TalleyBak-Storage-San-Antonio
DevelopmentIndustrialSelf-StorageTexas

Bakke, BCDC Break Ground on 744-Unit Self-Storage Facility in West San Antonio

by Taylor Williams

SAN ANTONIO — A partnership between San Antonio-based Bakke Development Corp. and Atlanta-based Batson-Cook Development Co. (BCDC) has broken ground on Talleybak Storage, a 744-unit self-storage facility in San Antonio. The three-story facility will be located in the Alamo Ranch submarket on the city’s west side and will span 82,938 net rentable square feet of space. Project partners include Alamo Architects, MBC Engineers and Independent Contractors. Completion is slated for early 2026. The project marks the eighth self-storage collaboration between Bakke and BCDC, including a 751-unit facility at the corner of SW Loop 410 and Palo Alto Road in San Antonio that is nearing completion.

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AcquisitionsIndustrialMassachusettsNortheastSelf-Storage

Marcus & Millichap Brokers Sale of 181-Unit Self-Storage Facility in Middleborough, Massachusetts

by Taylor Williams

MIDDLEBOROUGH, MASS. — Marcus & Millichap has brokered the sale of Everett Street Storage, a 181-unit self-storage facility in Middleborough, located south of Boston in Plymouth County. Built on 2.5 acres in 2017, the property includes 21 climate-controlled units, 140 non-climate-controlled units, two offices and 18 parking spaces across 18,710 net rentable square feet of space. Nathan Coe, Gabriel Coe and Brett Hatcher of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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AcquisitionsArkansasSelf-StorageSoutheast

Spartan Purchases Three Northwest Arkansas Self-Storage Facilities Totaling 1,890 Units

by John Nelson

SPRINGDALE, ARK. — Spartan Investment Group has acquired three self-storage facilities totaling 1,890 units in Northwest Arkansas for an undisclosed price. The purchases include a 39,450-square-foot facility in Bentonville, a 158,630-square-foot facility in Rogers and a 125,70-square-foot facility in Springdale. Spartan plans to invest more than $1 million in renovations to the portfolio, including improvements to security, signage and operational systems.

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AcquisitionsIndustrialNortheastPennsylvaniaSelf-Storage

Marcus & Millichap Brokers Sale of 265-Unit Self-Storage Facility in Somerset, Pennsylvania

by Taylor Williams

SOMERSET, PA. — Marcus & Millichap has brokered the sale of Edgewood Grove Storage, a 265-unit self-storage facility in Somerset, about 65 miles southeast of Pittsburgh. The property, which also features a residential component of seven houses and five apartments, was built in phases beginning in 1997 and totals 35,100 net rentable square feet of storage space. Jared Houck, Kevin Bledsoe and Matthew Junkin of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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16-180-Mikahala-Pl-Keaau-HI
AcquisitionsHawaiiIndustrialSelf-StorageWestern

Marcus & Millichap Arranges Sale of StorQuest Self-Storage Facility in Kea’au, Hawaii

by Amy Works

KEA’AU, HAWAII — The LeClaire-Schlosser Group of Marcus & Millichap has arranged the sale of a StorQuest-managed self-storage facility located at 16-180 Mikahala Place in Kea’au. Dallas-based Baranof Holdings acquired the asset from a Hawaii-based limited liability company for an undisclosed price. StorQuest Self Storage offers 879 units spread across 77,363 net rentable square feet. Charles LeClaire and Adam Schlosser of Marcus & Millichap’s Denver office represented the seller and the buyer in the deal. Adam Attia of Marcus & Millichap served as broker of record for the transaction.  

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IndustrialLoansSelf-StorageTexas

Joint Venture Receives $21M Construction Loan for Self-Storage Redevelopment in Irving

by Taylor Williams

IRVING, TEXAS — A joint venture between LaTerra Development and Platinum Storage has received a $21 million loan for a self-storage redevelopment project in Irving. The site at 2488 Market Place Blvd. formerly supported retail use and is adjacent to an existing Home Depot store and a future H-E-B grocery store. The project will transform the former retail site into a 195,000-square-foot facility. The number of units was not disclosed, but the facility will feature climate-controlled space and RV storage capabilities. An affiliate of New York City-based Andover Properties provided the loan.

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DTLA-Self-Storage-LA-CA
CaliforniaIndustrialLoansSelf-StorageWestern

PSRS Arranges $38.2M Bridge Loan for Self-Storage Facility Conversion in Los Angeles

by Amy Works

LOS ANGELES — PSRS has arranged a $38.2 million bridge loan to convert a vacant approximately 150,000-square-foot flex property in Los Angeles into a self-storage facility. Jonny Soleimani and George Gianoukakis of PSRS secured the financing for the undisclosed borrower. The financing included a $12.8 million cash-out refinance, fully funded construction costs and an 18-month interest reserve, providing the borrower with the capital needed for the successful repositioning of the asset.

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AcquisitionsSelf-StorageSoutheastTennessee

SmartStop Purchases 471-Unit Self-Storage Facility in Metro Nashville

by John Nelson

MURFREESBORO, TENN. — SmartStop Self Storage REIT Inc. has expanded its presence in the Tennessee market after acquiring a storage facility at 1323 N.W. Broad St. in Murfreesboro, roughly 35 miles southeast of downtown Nashville. The seller and sales price were not disclosed. The newly acquired facility spans 62,100 rentable square feet and features 471 storage units, including 384 drive-up units and six RV units distributed across 12 single-story buildings. California-based SmartStop has an owned or managed a portfolio of 217 operating properties in 23 states, Washington, D.C., and Canada, comprising approximately 155,700 units and 17.5 million rentable square feet.

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IndustrialSelf-StorageTexas

Hines Recapitalizes 9,700-Unit Self-Storage Portfolio in DFW

by Taylor Williams

HOUSTON — Houston-based Hines has recapitalized a portfolio of 14 self-storage facilities totaling approximately 9,700 units via new joint venture equity with the operator, CubeSmart. The properties collectively total more than 1.2 million square feet of net rentable space and are scattered across the Dallas-Fort Worth (DFW) metroplex. Aaron Swerdlin and Andrew Warin led the Newmark team that structured the recapitalization on behalf of Hines. CubeSmart is now the majority owner of the portfolio, though additional details of the transaction were not disclosed.

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AcquisitionsDevelopmentOfficeSelf-StorageSoutheastVirginia

Cresa Secures Sale of 30,000 SF Vacant Office Building in Arlington, Virginia

by John Nelson

ARLINGTON, VA. — Cresa has secured the sale of the Portsmouth Building, a vacant 30,000-square-foot office building located at 3138 10th St. N in Arlington. BRB Development Group paid approximately $200 per square foot for the property, with plans to demolish the building to make way for a new self-storage development. Gene Sachs, Jonathan Harms and Natalie Gosnell of Cresa represented the seller, America’s Credit Unions (ACU), in the transaction. ACU is a merger of the Credit Union National Association (CUNA) with National Association of Federally-Insured Credit Unions (NAFCU). ACU consolidated the two companies into new office space at 99 M St. SE in the metro’s Navy Yard submarket.

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