STUART, FLA. — Strategic Storage Trust has acquired eight self-storage facilities, located in South Carolina, Florida and Georgia, totaling 3,770 units. The purchase included: a 370-unit property, located at 1990 NW Federal Highway 1, and a 380-unit property, located at 6195 S. Kanner Highway in Stuart; a 590-unit property, located at 1060 King George Blvd., and a 450-unit property, located at 782 King George Blvd. in Savannah, Ga.; a 490-unit property, located at 512 Percival Road in Columbia, S.C.; a 660-unit property located at 298 Red Cedar St. in Bluffton, S.C.; a 250-unit property, located at 890 St. Peters Church Road, and a 580-unit property located at 120 Northpoint Drive in Lexington, S.C. The sites will be rebranded under the SmartStop Self Storage name.
Southeast
HOLLYWOOD AND DANIA BEACH, FLA. — KTR Capital Partners has purchased a 13-building industrial flex/warehouse portfolio totaling 520,000 square feet, located in Hollywood and Dania Beach. The properties range in size from 24,000 square feet to 64,000 square feet. The portfolio is 95 percent leased. The company plans to invest additional capital to reposition the assets.
MIAMI — Marcus & Millichap has arranged the $3.25 million sale of a two-tenant, net-leased retail property, located at 12605 Biscayne Blvd. in Miami. The building is leased to T-Mobile, which signed a seven-year lease in 2011, and Smoothie King, which has a five-year lease. Drew Kristol and Kirk Olson of Marcus & Milichap represented the seller, a Miami Beach, Fla.-based limited liability company, in the transaction.
MONCKS CORNER, S.C. — A 29-unit multifamily property, located on Gulledge Street on Moncks Corner, has sold for $1.05 million. David Ingle of NAI Avant's Charleston, S.C., office represented the seller in the transaction. Delaware-based DC Realty Advisors was the buyer.
COLUMBIA, S.C. — Passco Cos. has purchased the 240-unit Broad River Trace, a Class A multifamily property located at 550 River Hill Circle in Columbia. Amenities include a resort-style pool, clubhouse with Wi-Fi service and a fishing pond. Sean Wood, Blake Okland, Dean Smith and John Heimburger with ARA represented Shoptaw Group, the seller, in the transaction and procured the buyer.
MARRERO, LA. — An 11,200-square-foot Dollar Tree, located along the Westbank Expressway in Marrero, has sold for $1.77 million. The company has a 10-year triple net lease on the newly constructed property. Dan Cooper of Cooper Commercial Investment Group represented the sellers, an Alabama-based private development group, in the transaction. The buyer was a Minnesota-based institutional fund.
HIALEAH, FLA. — Marcus & Millichap has arranged the $1.27 million sale of the 13-unit Cordero Apartments, a multifamily property located at 405 W. 11th St. in Hialeah. Tal Frydman, Daniel Cunningham and Derek Gibbs of Marcus & Millichap represented the seller, a Miami Lakes, Fla.-based private investor, in the transaction, and procured the buyer, a Coral Gables, Fla.-based limited liability company.
MCDONOUGH, GA. — Nexus Distribution Corp. has signed a 75,000-square-foot industrial lease, located in a 300,000-square-foot building at 120 Declaration Drive in McDonough. Brett Chambless and Dave Pals of Lee & Associates represented the tenant in the lease transaction. Wes Hardy of Duke Realty Corp. represented the landlord.
CAMBRIDGE, MD. — Centerline Capital Group has provided a $2.46 million FHA 223(a)(7) loan for the 144-unit Bay Country Apartments, located at 515-630 Greenwood Ave. in Cambridge. The proceeds of the loan will be used to refinance the existing FHA 221(d)(4) loan. Centerline arranged the loan through Osprey Properties, a firm with which Centerline has an established equity relationship, on behalf of the borrower, Greenwood Avenue Development.
LAFAYETTE, LA. — Juneau Construction Co. has completed the second phase of the $100 million Taft/Tulane and Rose Garden Housing replacement program for the University of Louisiana at Lafayette. Ambling University Development Group was the developer for the project, Ragin' Cajun Facilities owns the property and Niles Bolton Associates was the architect. Construction for Phases I and II included the demolition of five residence facilities, construction of four new residence halls, the repurpose of two existing residence halls, renovation of a historic residence hall and construction of a new parking structure. The project added 1,800 beds to the campus.