Friday, July 26, 2024
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Self-Storage

AcquisitionsIllinoisIndustrialMidwestSelf-Storage

Marcus & Millichap Brokers Sale of 57,040 SF Self-Storage Property in Beach Park, Illinois

by Kristin Harlow

BEACH PARK, ILL. — Marcus & Millichap has brokered the sale of Self Storage of Beach Park, a 57,050-square-foot self-storage property in Beach Park, a city in northeast Illinois. The sales price was undisclosed. Completed in 2021, the asset features 197 non-climate-controlled units and 250 climate-controlled units within three single-story buildings. Sean Delaney of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer, Extra Space Storage. The property will be rebranded as Storage Express.

Continue Reading
FacebookTwitterLinkedinEmail
Anna-Self-Storage
AcquisitionsIndustrialLoansSelf-StorageTexas

HPI Real Estate Buys 840-Unit Self-Storage Facility in Anna, Texas

by Taylor Williams

ANNA, TEXAS — Texas-based investment firm HPI Real Estate has purchased an 840-unit self-storage facility in Anna, about 45 miles north of Dallas. Anna Self Storage was completed in 2023 and totals 103,000 net rentable square feet of climate-controlled space. Casey Wenzel, John Bauman and Luke Rogers of JLL arranged a five-year, floating-rate acquisition loan through Security National Bank on behalf of HPI Real Estate. Anna Self Storage was approximately 30 percent occupied at the time of the loan closing. Life Storage operates the property.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialNew JerseyNew YorkNortheastSelf-Storage

Prime Group Acquires Two Self-Storage Portfolios Totaling 1 MSF in New York, New Jersey

by Taylor Williams

SARATOGA SPRINGS, N.Y. — Prime Group, an investment firm based in Saratoga Springs, N.Y., has acquired two self-storage portfolios totaling roughly 1 million net rentable square feet in New York and New Jersey. The number of units and exact locations were not disclosed. The first portfolio consists of 14 properties totaling roughly 800,000 net rentable square feet that are located in New York’s Hudson Valley region. The second portfolio comprises five properties totaling 245,000 net rentable square in Northern New Jersey. Prime Group acquired both sets of properties in conjunction with a third portfolio that totals 680,000 net rentable square feet across 11 properties that are scattered across the country. The new ownership will operate the facilities under its Prime Storage brand. The seller and sales price were also not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 553-Unit Self-Storage Facility in Mesquite, Texas

by Taylor Williams

MESQUITE, TEXAS — Marcus & Millichap has brokered the sale of a 553-unit self-storage facility in the eastern Dallas suburb of Mesquite that is operated under the Storage King USA brand. The facility spans 73,999 net rentable square feet. Brandon Karr of Marcus & Millichap represented the seller, a New York-based investment firm, in the transaction. Karr also procured the buyer, a REIT. Both parties requested anonymity.

Continue Reading
FacebookTwitterLinkedinEmail
Public-Storage-Toms-River-New-Jersey
DevelopmentIndustrialNew JerseyNortheastSelf-Storage

DXD Capital Completes 761-Unit Self-Storage Facility in Toms River, New Jersey

by Taylor Williams

TOMS RIVER, N.J. — Developer DXD Capital has completed construction of a 761-unit self-storage facility in Toms River, located on the Jersey Shore. The four-story building spans 62,818 net rentable square feet and features multiple elevators and a drive-in loading area. DXD Capital acquired the site in summer 2022. Public Storage will operate the facility. Jayeff served as the general contractor on the project, and Century Bank was the construction lender.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialLoansNew YorkNortheastSelf-Storage

White Oak, Thorofare Provide $21.5M Loan for Self-Storage Conversion Project in Manhattan

by Taylor Williams

NEW YORK CITY — An affiliate of international lender White Oak Global Advisors and California-based Thorofare Capital have provided a $21.5 million loan for a self-storage conversion project in Manhattan’s Tribeca neighborhood. The borrower, CSP Properties LLC, will use the proceeds to acquire the site at 78 Walker St., which currently houses a vacant office and industrial building, and convert the property into a 300-unit self-storage facility. Public Storage will operate the facility, which will span 30,540 net rentable square feet.

Continue Reading
FacebookTwitterLinkedinEmail
SW-Loop-410-Palo-Alto-Road-San-Antonio
DevelopmentIndustrialSelf-StorageTexas

Bakke, Batson-Cook Break Ground on 751-Unit Self-Storage Facility in 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 a 751-unit self-storage facility at the corner of SW Loop 410 and Palo Alto Road in San Antonio. The facility will span 86,475 net rentable square feet of space. Project partners include Alamo Architects, civil engineer INK Civil, general contractor Independent Contractors and construction lender Security State Bank. Completion is slated for the second quarter of 2025. The project marks the seventh self-storage collaboration between Bakke and BCDC, with construction on the most recent project, a 773-unit facility in Weslaco, beginning earlier in March.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalitySelf-StorageTexas

Marcus & Millichap Arranges Sale of Storage, Hospitality Portfolio in Quinlan, Texas

by Taylor Williams

QUINLAN, TEXAS — Marcus & Millichap has arranged the sale of The Lake Tawakoni Portfolio, a collection of storage and hospitality properties in Quinlan, about 45 miles east of Dallas. The portfolio consists of 219 RV sites, 198 storage units, 39 cabins and 39 boat slips across three properties. Brad Dorsey, Skyler Henderson, Blake Eisenberg, Edgar Martinez and Katie Eaton of Marcus & Millichap brokered the deal. The buyer and seller were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaSelf-StorageSoutheast

DXD Capital Completes 738-Unit Self-Storage Facility in South Florida

by John Nelson

LAKE PARK, FLA. — DXD Capital has completed the development of a self-storage facility located in Lake Park, a suburb of Palm Beach. Located at 1450 Watertower Road, the South Florida property totals 77,150 square feet of rentable square feet across 738 individual units. DXD acquired the property in July 2022 through the DXD Self Storage Fund I, which was launched in November 2020. Public Storage operates the facility.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsSelf-StorageSoutheastTennessee

Marcus & Millichap Brokers Sale of 182-Unit Self-Storage Facility in Metro Nashville

by John Nelson

LEBANON, TENN. — Marcus & Millichap has brokered the sale of Leeville Pike Storage, a 182-unit self-storage facility located at 6000 Leeville Pike in Lebanon, about 20 miles east of Nashville via I-40. The gated property was built in 2015 and features LED lighting and security cameras. Andrew Beeckman of Marcus & Millichap’s Nashville office represented the seller and procured the buyer in the transaction. Both parties requested anonymity, and the sales price was also not disclosed. Beeckman says the previous owner was motivated to sell in order to retire.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts