AMARILLO, TEXAS — Dallas-based Mycon General Contractors is underway on construction of a 781-unit self-storage facility for U-Haul in Amarillo that will also offer truck and trailer rental services. The four-acre site at 5316 Canyon Drive already houses several U-Haul facilities, and the new three-story building will add 83,000 square feet of net rentable, climate-controlled space and 11,267 square feet of box storage space to the existing complex. Full completion is slated for December. In addition to the construction of the new building, the existing paving, landscaping and onsite ingress/egress points will also be renovated.
SANTA MONICA, CALIF. — Matthews Real Estate Investment Services has arranged the sale of a self-storage facility located at 1620 14th St. and 1621 Euclid St. in Santa Monica. Invesco Real Estate acquired the asset. The seller and price were not released. The 56,490-square-foot facility features 1,070 units. The two-parcel facility sits on 1.3 acres at the intersections of Colorado Avenue and 14th Street. Bill Pedersen, Shane Avera and Maxx Bauman of Matthews represented the seller in the transaction.
TYLER, TEXAS — Marcus & Millichap has brokered the sale of Don’s Self Storage, an 334-unit facility in Tyler, about 100 miles east of Dallas. The facility comprises 49,225 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the East Texas-based seller and procured the California-based buyer in the transaction. Both parties were private investors that requested anonymity.
BONHAM, TEXAS — Marcus & Millichap has brokered the sale of X Extreme Storage, a 57-unit self-storage facility in Bonham, about 75 miles northeast of Dallas. The facility spans 61,560 net rentable square feet, and individual units measure 25 by 45 feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller and procured the Texas-based buyer in the transaction. Both parties were private investors that requested anonymity.
AVENTURA, FLA. — Aztec Group has arranged the $23 million refinancing of a five-story, climate-controlled self-storage facility in the Miami suburb of Aventura. Glendale, Calif.-based self-storage operator Public Storage operates the property. Built in 2018, the facility offers 84,000 square feet of rentable space across 946 units. Jason Shapiro and Charles Penan of Aztec Group arranged the loan through the direct lender, an affiliate of Miami-based 3650 REIT, on behalf of the borrower, South Florida-based America’s Capital Partners. The nonrecourse, fixed-rate loan will be interest-only for the full 10-year term.
BEND, ORE., AND CLARKSVILLE, TENN. — Invesco Real Estate Income Trust (INREIT) has acquired two self-storage portfolios in Bend and Clarksville for a combined purchase price of $42 million. The two-story, single-story, drive-up self-storage properties in Bend total 62,805 square feet across 674 units. The portfolio includes a 49,523-square-foot, 550-unit property that is 98.7 percent occupied, at 20230 Powers Road, as well as 345 Cleveland Ave., a 13,282-square-foot, 124-unit facility that is 100 percent occupied. Located in Clarksville, the three single-story, drive-up self-storage properties total 204,425 square feet across 1,347 units. The portfolio includes 1280 Parkway Place, a 67,350-square-foot, 505-unit facility that is 95.6 percent occupied; 4351 Guthrie Highway, an 80,275-square-foot, 471-unit facility that is 96.6 percent occupied; and 117 Old Excell Road, a 56,800-square-foot, 371-unit facility that is 97.8 occupied. The names of the sellers were not released.
HOUSTON — Fort Worth-based investment firm Fort Capital has acquired Champions Commerce Park, a development in North Houston that consists of 16 light industrial and self-storage buildings totaling 161,753 square feet. The Class B portfolio had a total occupancy rate of 91 percent at the time of sale. The seller and sales price were not disclosed.
SAN ANTONIO — Point Acquisitions, an investment firm with offices in South Florida and Philadelphia, has purchased a 700-unit self-storage facility located at 18975 Marbach Lane in San Antonio. The site, which is located just off I-35 on the city’s northeast side, spans 65 acres, including 20 acres for additional expansion. The facility currently spans approximately 362,000 net rentable square feet. The seller and sales price were not disclosed.
NEW BRAUNFELS, TEXAS — Marcus & Millichap has brokered the sale of Brauntex Storage, a 194-unit self-storage facility that sits on 2.5 acres on the northeastern outskirts of San Antonio. Dave Knobler and Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The duo also procured the buyer, a New York-based investment firm. Both parties requested anonymity.
DENVER — Armstrong Capital Development has completed the disposition of a self-storage facility in Denver. An institutional buyer acquired the asset for an undisclosed price. Located at 7200 E. 36th Ave., the 80,400-square-foot facility consists of a three-story, climate-controlled building with 569 units ranging in size from 5-foot by 5-foot to 10-foot by 30-foot. Onsite amenities include 24-hour video surveillance, prominent visibility and convenient access to more than 68,900 vehicles per day. Built in 2019, the property was 96 percent occupied at the time of sale.