Day: July 1, 2024

A New Self-Storage Facility Gets New Management in Hoschton, GA

The city of Hoschton is set to experience professional self-storage management with the opening of Premier Storage at Friendship Road. This new state-of-the-art facility, located at 1631 Friendship Road, Hoschton, GA 30548, features 441 units spanning 75,755 rentable square feet. It offers a variety of secure, climate-controlled, and non-climate-controlled storage options to serve the communities of Hoschton, Buford, Winder, and Monroe. Premier Storage at Friendship Road is managed by Absolute Storage Management\ (Absolute), bringing their expertise in professional self-storage management to the facility. Absolute is anticipated to take over management…

Local Memphis Owners Announce Opening of Broad Ave Self Storage in Memphis, TN

Memphis’ Broad Avenue District is set to benefit from professional self-storage management with the grand opening of Broad Ave Self Storage. Located at 2650 Broad Avenue, Memphis, TN 38112, this newly developed facility offers 370 units totaling 47,085 rentable square feet. It provides secure, climate-controlled storage options to the communities of Binghamton, Midtown, Grahamwood, and the greater Memphis area. Broad Ave Self Storage is now under the professional management of Absolute Storage Management (Absolute), effective May 21, 2024. For more information or to speak with our friendly office staff, visit…

Seven Hills Realty Trust Closes $23.8 Million Mortgage Loan to Recapitalize a Self-Storage Property in Los Angeles, CA

Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $23.8 million first mortgage floating rate loan to recapitalize 2515 S Broadway, a newly constructed, Extra Space Storage branded 80,000 square foot self-storage facility located in Los Angeles, CA. The loan has a three-year initial term with two one-year extension options, subject to the borrower meeting certain requirements. SEVN’s manager, Tremont Realty Capital, was introduced to the transaction by JLL, which advised Staley Point Capital, the Los Angeles-based sponsor. Tom Lorenzini, President and Chief Investment Officer of SEVN,…

My Attic Storage Adds RV Storage at its Facilities in Toccoa, GA

My Attic Storage has introduced RV storage at its Pond Street and Mize Road facilities to expand its storage solutions while offering standard drive-up storage units. This addition aims to meet the growing demand for secure, convenient RV storage facilities in the Toccoa area. Recognizing the increasing customer requests for RV storage, My Attic Storage has upgraded its facilities to accommodate this growing demand. The new RV storage units are designed with ample space to facilitate easy maneuverability and access for large vehicles. Equipped with modern security features, such as…

Go Store It Self Storage Announces Grand Opening Of New Facility in Opa-locka, FL

Go Store It Self Storage, an affiliate of Madison Capital Group Holdings, has opened its latest state-of-the-art facility in Opa-locka, Florida. The new facility at 12940 NW 27th Avenue will serve the Miami-Dade market, offering 777 climate-controlled storage units in a Class A building. “We are thrilled to expand our footprint in the Miami-Dade market with the opening of our Opa-locka facility,” said Evan Stephens, Chief Investment Officer at GSI. “This project not only demonstrates our commitment to providing top-tier storage solutions but also pays homage to the city’s unique…

Developers Building $32 Million Self-Storage Project in Surprise, AZ

A group headed up by Cedar Creek Capital, Attorney Ken Pinkard, HGTV star Tareq el-Moussa and former Congressman Barry Goldwater Jr. are teaming up on a project to build a 186,000-square-foot self-storage facility in Surprise. The $32 million project is about halfway done. It will be under the Storelocal Storage brand, a membership organization with 1,500 members nationwide. When completed later this year, the self-storage facility will feature 925 climate-controlled storage units, bays, and spaces with drive-up access, as well as 54 RV and boat storage spaces. James A. Campbell…

Self-Storage Coming to Buck Business Park Along Merrill Road in Jacksonville, FL

Buck Business Park in Arlington is gaining two developments – a self-storage center and a combined Mexican restaurant and grocery store. The park is at southwest Merrill and Fort Caroline roads, east of Interstate 295. The city issued permits on June 24 for Pepe’s Hacienda and Restaurant and for the Merrill Road Storage Center. For Pepe’s, AEC Integrated of Jacksonville is the contractor for the 7,500-square-foot build-out for a restaurant and grocery store at 9239 Merrill Road, Unit 1, at a project cost of $950,000. Plans show seating for 183…

Värde Provides $185 Million Refinance for 20-Property Self-Storage Portfolio Across Six States in the US

Värde Partners, a global alternative investment firm, has provided a $185 million loan to refinance a multi-state self-storage portfolio to a joint venture between Chicago-based Metro Storage and Fremont Realty Capital. The portfolio comprises 20 state-of-the-art, Class A self-storage facilities in markets across six states: Illinois, New Jersey, Pennsylvania, Minnesota, New York, and Wisconsin. With 14,215 units in total, the assets include over 1.55 million net rentable square feet. The floating-rate bridge loan, structured by Talonvest Capital, has a three-year initial term with two one-year extension options. “Värde welcomed the…

Marc Tropp of Eastern Union Secures $10.1 Million in Financing for Construction of a Self-Storage Facility in Davenport, FL

Marc Tropp, a senior managing director with Eastern Union, has arranged $10.1 million in financing toward the ground-up construction of a five-story, 690-unit, self-storage facility in Davenport, FL. Davenport is situated approximately 65 miles east of Tampa. Eastern Union, based in New York, is one of America’s largest providers of commercial mortgage brokerage and capital markets advisory services. Together with senior managing director David Merkin, Mr. Tropp oversees the firm’s Mid-Atlantic Region office in Bethesda, MD. The climate-controlled property will have gross square footage of 103,020 square feet and 76,431…

Recent Transactions: 6.25.2024 – 7.01.2024

Portfolio: A+ Self Storage Portfolio (two-property self-storage portfolio) Location: Las Cruces, NM Address 1: 5000 N Sonoma Ranch Blvd, Las Cruces, NM 88012 Address 2: 8590 Bataan Memorial East, Las Cruces, NM 88011 Seller: John Curry Construction and Real Estate Buyer: Westport Properties and Heitman (JV) Brokers and Brokerage: Charles “Chico” LeClaire, Adam Schlosser and Ryan Sarbinoff of The LeClaire-Schlosser Group of Marcus & Millichap NRSF: 116,458 Unit Count: 823 units Highlights (Both Facilities): Perimeter fencing Video surveillance Digital gate access LED lighting Spacious leasing offices with security Retail displays…