REBusinessOnline

CBRE Global Investors Buys Four Self-Storage Facilities in Colorado, California, Washington Totaling 3,746 Units

BOULDER, COLO.; VISTA, CALIF.; AND BOTHELL AND LAKE STEVENS, WASH. — A fund sponsored by CBRE Global Investors has purchased four self-storage properties totaling 3,746 units and 296,286 square feet. Terms of the transaction were not released.The acquired assets, which were all delivered in 2020, are:The 69,115-square-foot StorQuest Boulder, located at 4790 Pearl St. in Boulder, featuring 772 climate-controlled units. The 74,416-square-foot StorQuest Vista, located at 943 S. …

Acquisitions, California, Colorado, Industrial, Self-Storage, Washington, Western

Fantini & Gorga Arranges $17.2M Loan for Refinancing of Self-Storage Facility in Darien, Connecticut

DARIEN, CONN. — Fantini & Gorga, a Boston-based mortgage banking firm, has arranged a $17.2 million loan for the refinancing of Hollow Tree Self Storage, a 90-unit facility in the southern coastal city of Darien. The facility spans 83,595 net rentable square feet and includes outdoor vehicle storage space. Casimir Groblewski of Fantini & Gorga arranged the loan through an undisclosed, locally based bank on behalf of the borrower, Connecticut-based Affordable Self Storage

Acquisitions, Connecticut, Industrial, Northeast, Self-Storage

Talonvest Capital Secures $45.5M Construction Loan for Self-Storage Project in Bethesda, Maryland

BETHESDA, MD. — Talonvest Capital Inc. has secured a $45.5 million construction loan to fund the ground-up development of a self-storage facility in Bethesda. Upon completion, the self-storage facility will feature a 131,559 net rentable square feet of climate-controlled space in approximately 1,560 units across nine levels. The project is expected to be completed in 2022.The loan features a low interest rate, a three-year term with an extension option and prepayment flexibility. Jim …

Development, Industrial, Loans, Maryland, Self-Storage, Southeast

Marcus & Millichap Brokers Sale of 292-Unit Self-Storage Facility in Madisonville, Texas

MADISONVILLE, TEXAS — Marcus & Millichap has brokered the sale of D&J Storage, a 292-unit self-storage facility in Madisonville, about 100 miles north of Houston. The property spans 41,740 square feet. Dave Knobler of Marcus & Millichap represented the seller, a private investor, in the transaction. Jordan Farrer, Charles LeClaire and Adam Schlosser, also with Marcus & Millichap, represented the buyer, an individual/personal trust. Both parties requested

Acquisitions, Industrial, Self-Storage, Texas

Marcus & Millichap Brokers Sale of 547-Unit Self-Storage Portfolio in Kutztown, Pennsylvania

KUTZTOWN, PA. — Marcus & Millichap has brokered the sale of a 546-unit self-storage portfolio in the Eastern Pennsylvania city of Kutztown. The portfolio consists of two existing facilities totaling 22,243 net rentable square feet across 131 climate- and non-climate-controlled units, as well as a development site for which 148 climate-controlled and 268 non-climate-controlled units have been proposed. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the …

Acquisitions, Industrial, Northeast, Pennsylvania, Self-Storage

L&L, Columbia Receive $1.2B Construction Loan for Redevelopment of Historic Manhattan Warehouse

NEW YORK CITY — A joint venture between L&L Holding Co. and Columbia Property Trust (NYSE: CXP) has received a $1.2 billion construction loan for the redevelopment of the historic Terminal Warehouse building in Manhattan’s West Chelsea neighborhood.The property was originally built in 1891 as the first major New York City facility with direct access to the river, streets and rail lines. A set of twin rail tracks runs through the center of the facility and originally offered a direct …

Development, Industrial, New York, Northeast, Office, Retail, Self-Storage, Top Stories

Bellomy Brokers Sale of 463-Unit CubeSmart Self-Storage Facility in Austin

AUSTIN, TEXAS — Bellomy & Co. has brokered the sale of a 463-unit CubeSmart self-storage facility that is located approximately eight miles outside of downtown Austin. The property was built in 2019 and totals 57,707 net rentable square feet. Bill Bellomy and Michael Johnson of Bellomy & Co. represented the seller, a Dallas-based entity doing business as I35 South LP, in the transaction. The duo also procured the buyer, a locally based entity doing business as PG Cactus Bulldog I

Acquisitions, Industrial, Self-Storage, Texas

SVN Negotiates Sale of 3,147-Unit Self-Storage Portfolio in New Jersey

NEW JERSEY — National brokerage firm SVN has negotiated the sale of a portfolio of self-storage facilities located throughout New Jersey that consists of 3,147 units and 393,400 net rentable square feet. The portfolio comprises five stabilized facilities that were originally built in the mid-1980s and two expansion projects. Nick Malagisi and Hans Hardisty of SVN brokered the deal. The buyer and seller were not

Acquisitions, Industrial, New Jersey, Northeast, Self-Storage

Marcus & Millichap Brokers Sale of 1,321-Unit Self-Storage Portfolio in Dallas-Fort Worth

CORINTH AND FORT WORTH, TEXAS — Marcus & Millichap has brokered a portfolio sale comprising two self-storage facilities totaling 1,321 units in the Dallas-Fort Worth metroplex. The portfolio spans 162,960 net rentable square feet. The first property is a 557-unit facility in Corinth, located north of the metroplex, and the second property is a 764-unit facility in Fort Worth. Both properties were built in 2018 and are managed by Extra Space Storage. Brandon Karr of Marcus & Millichap …

Acquisitions, Industrial, Self-Storage, Texas

Marcus & Millichap Arranges $10.7M Sale of Self-Storage Facility, Retail Building in Kent, Washington

KENT, WASH. — Marcus & Millichap has brokered the sale of Glacier West Self Storage and Napa Auto Parts Store, located at 1415 and 1407 Central Ave. S in Kent. The transaction includes a 45,400-square-foot self-storage facility and a 6,000-square-foot NAPA Auto Parts Store. A limited liability company sold the asset to an undisclosed buyer for $10.7 million.Built in 2001 on three acres, the 10-building self-storage facility features 134 climate-controlled units and 183 drive-up units …

Acquisitions, Industrial, Retail, Self-Storage, Washington, Western
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