Day: July 25, 2023

Public Storage Accelerates Growth with Simply Self Storage Acquisition

The acquisition is currently expected to close in the third quarter of 2023, subject to the satisfaction of customary closing conditions. A detailed presentation is available in the Investor Relations section of Public Storage’s website.” Public Storage (NYSE:PSA) (the “Company”) and Blackstone Real Estate Income Trust, Inc. (“BREIT”) announced today an agreement for Public Storage to acquire Simply Self Storage (“Simply”) from BREIT for $2.2 billion. The portfolio comprises 127 wholly-owned properties and 9 million net rentable square feet that are geographically diversified across 18 states and located in markets…

Multi-Story, Self-Storage Facility Proposed for Buffalo Grove

The facility would offer 773 storage units of varying sizes for a net rentable square footage of approximately 82,265 sq. ft. The facility will typically have 1-2 employees on-site at a time. The office is located at the west end of the building facing Lexington Drive and is approximately 385 sq. ft. There will be a small retail area in the office where customers can purchase general moving supplies such as boxes and tape.” Village commissioners this week heard plans for the construction of a 100,000 sq. ft. self-storage facility…

Coastal Boatworks & Storage in Newcastle Under New Ownership

Business has been good. We have a great relationship with the previous owners, Bucky and Pauline Holloway, and many of their customers have continued doing business with us.” – Linda Flagg, Manager Last July, Coastal Boatworks & Storage in Newcastle was sold to Mid-Coast Properties. Jim and Liz Duffy of Boothbay Harbor own Mid-Coast Properties which includes Boothbay Self-Storage, Wiscasset Self-Storage and Sabattus Street Self-Storage in Lewiston. Manager Linda Flagg is in charge of all four properties. She said nothing has changed about Coastal Boatworks and Storage, which at 1155…

Self Storage Specialists Delco Storage Open New Facility in the Collingdale Area

Delco Storage, self-storage specialists, is pleased to announce that it has opened a new facility in the Collingdale area at 519 MacDade Blvd. The self-storage facility is open many hours a day with 24/7 tracking. Customers can get instant access to their respective units with keypad entry, making it the most secure facility. The storage units are available in various sizes to accommodate the specific storage needs of residential and commercial clients. Customers can rent a small or large unit according to their requirements. All units are climate controlled, which…

Gantry Arranges $18 Million Refinance on Two Self Storage Properties

Gantry has secured $18 million to refinance two branded, Southern California self-storage facilities, including a recently constructed facility in Miramar and totaling 1,634 rentable units. The single, cross-collateralized financing retired construction debt for the facility in Miramar and refinanced a pending maturity for a fully stabilized asset in Simi Valley. Principal Peter Welsh and senior director Bahman Mirhashemi, with the firm’s Los Angeles and Irvine production offices, respectively, represented the borrower, a private investment sponsor. The 10-year life company loan features an attractive fixed rate with 30-year amortization. Mirhashemi said,…

Realty Capital, DXD Underway on 664-Unit Self Storage Facility on Long Island

The new Extra Space Storage facility in Huntington Station, New York, will consist of 62,125 net rentable square feet across 664 climate-controlled units.” A partnership between Dallas-based investment firm Realty Capital Partners and self-storage developer DXD Capital is underway on the construction of a 664-unit facility in the Long Island community of Huntington Station. The facility will total 62,125 net rentable square feet of space that will be entirely climate-controlled. Construction began in June and is expected to be completed in August 2024. Extra Space Storage will operate the facility,…

Self Storage Facility Opens in Old Weis Store in Hanover

We are excited to expand to a new state as we continue to build our presence throughout the mid-Atlantic and Southeast regions,” – Anthony Piscitelli, Senior Vice President of Investments – Arcland Property Co. Washington, D.C. based Arcland Property Co. has opened a self-storage facility in Penn Shopping Plaza on the south side of Hanover, its first self-storage location in Pennsylvania. The new facility, at 1049 Baltimore St. near Grandview Plaza, is part of Arcland’s continued expansion efforts in the mid-Atlantic, representing the 45th property for the region’s largest private…

Merriman Anderson Architects Completes Self Storage Facility

Merriman Anderson Architects announced Monday the completion of Cardinal Road Self-Storage, a three-story climate-controlled facility, in Waxahachie. MAA provided architectural and interior design services encompassing more than 76,000 square feet and 570 separate storage units. The building is constructed from concrete masonry block and load-bearing metal studs. The exterior is clad in block, transitioning to exterior insulation finishing system, which offers flexibility in design aesthetics while meeting the latest insulation energy codes. By incorporating EIFS into the design and construction, MAA was able to customize the graphics and colors on…

Landpark Advisors Secures Strategic Self Storage Asset in Port Arthur, Texas

  Our comprehensive due diligence process identified the presence of handwritten ledgers and legacy management systems at Park Central. To propel the facility to the forefront of the market, we plan on implementing our advanced revenue management software and deploying a state-of-the-art website, in line with its imminent rebranding as Right Move Storage Memorial Blvd.” – Darren Kelley, President – Right Move Storage LandPark Advisors, LLC, in collaboration with Sunset Capital, LLC (collectively, “LandPark Sunset Storage II”) has successfully procured a key self-storage facility in the burgeoning city of Port…

Recent Transactions: 7.18.2023 – 7.24.2023

Property: Davenport Storage Center Location: Davenport, IA Brokers and Brokerage: Matt Haugen, Alex Ihrke, Nathan Gottlieb and Tom Flannigan of Area Commercial Real Estate Services – the Broker Affiliates for the Argus Self Storage Advisors NRSF: 22,780 Unit Count: 108 drive-up, climate-controlled and portable container units Highlights: The property includes an on-site apartment   Property: Bonus Room Storage Location: Candler, NC Buyer: StorSafe Square Feet: 40,733 (additional 6,000 Sq Ft on-site warehouse can be converted into extra storage units) Unit Count: 141 non-climate-controlled and 176 climate-controlled units + 39 parking…