Day: January 25, 2023

Morningstar Secures $65.8 Million to Purchase Three Newly Built Facilities

First Citizens Bank announced that its Middle Market Banking business provided a total of $65.8 million in financing for affiliates of Morningstar Properties, an investor in and operator of self storage facilities, marinas and other specialty real estate assets. The money was used for Morningstar’s purchase of three newly built self storage properties that will operate as Morningstar Storage. The portfolio includes a 105,000 square-foot facility in Henderson, NV (above); a 141,000-square-foot self storage site off Eldridge Parkway in Houston, TX; and a 151,000-square-foot site off South Voss Road in…

Arcland Property Company and Self Storage Plus Open Class A Storage Facility in Randallstown, MD

Arcland Property Company, a leading developer and owner of self storage in the mid-atlantic region, has brought another Class A self storage facility to Maryland. The facility will be managed by Self Storage Plus, which marks the 31st property in Maryland for the property management platform. We are ecstatic to add another well designed Class-A facility to suburban Baltimore.” Within one mile of two shopping centers, the facility boasts visibility from 30,000 cars a day, making it an ideal investment for Arcland. “We are ecstatic to add another well designed…

Recent Transactions: 01.17.2023 – 01.23.2023

Property: Kennedy Self Storage Location: McKees Rocks, PA Brokers and Brokerage: Gabriel Coe, Luke Dawley, Brett Hatcher and Nathan Coe of the Hatcher Coe Group of Marcus & Millichap NRSF: 26,725 Unit Count: 157 non-climate controlled units plus three additional units Physical Occupancy: 100% Highlights: Located in Pittsburgh MSA self storage facility Under ten miles from Pittsburgh International Airport, Heinz Field, PNC Park, PPG Paints Arena and Duquesne University Dense surrounding population: 157,430 people living within a five-mile radius Property: Master Key Storage Location: Sweetwater, TN Brokers and Brokerage: John…