Day: December 17, 2024

Featured Brokers: Tom de Jong, Jacob Becher, Nate Fliflet, Brendan Carney, Dana Chobor and Jack Parkan

The de Jong I Becher Self Storage Team, consisting of Tom de Jong, Jacob Becher, Nate Fliflet, Brendan Carney, Dana Chobor and Jack Parkan, has a combined 30+ years of dedicated self-storage experience with an excess of $2 billion in closed transactions throughout the United States, including small single asset sales and large multi-property portfolios. Our team has a deep network of connections within the self-storage industry ranging from single facility owners to the largest institutional owner-operators and REITs (public and private). To find out what your asset(s) is worth,…

Recent Transactions: 12.10.2024 – 12.16.2024

Recent self-storage transactions reflect strong investor demand across diverse markets, balancing development opportunities, stabilized assets, and value-add potential. High-growth markets like Sarasota and Fort Lauderdale, Florida, attract Class A developments, while niche assets such as Old South Self Storage on Nantucket Island and suburban facilities like My Garage Storage in Humble, Texas, demonstrate resilience with strong occupancy. Portfolio acquisitions, like the 8-property Memphis deal, highlight demand for regional scale, while secondary markets such as Janesville, Wisconsin, and Columbia, Missouri, offer expansion opportunities. Strategic locations, climate control, vehicle storage, and upgraded…

Self-Storage Investment Sales Update

The self-storage investment sales market at the end of 2024 is still in price discovery with the bid-ask spread divided based on asset type with the market split into several distinct buckets; core market stabilized, certificate of occupancy/lease-up, small market and development opportunity. Distressed deals have not surfaced in a material way and will likely be limited to a small handful of assets, primarily new construction in oversupplied markets with high levels of non-recourse debt.  A slowing of new development should help stabilize struggling markets in 2025-2026! CORE MARKET –…

Eight Self-Storage Properties Trade to New Owner in Memphis MSA, TN

JLL Capital Markets led the sales efforts on behalf of Gelt Venture Partners for the portfolio, which totals more than 3,500 storage units JLL Capital Markets announced today that it has completed the sale of an eight-property self-storage portfolio, totaling more than 3,500 storage units and 485,000 rentable square feet, and is located in the greater Memphis, Tennessee area. JLL’s Self Storage Capital Markets team represented the seller, Gelt Ventures, in the sale of the portfolio to Mini Mall Storage Properties. The portfolio consists of over 485,000 square feet of institutional-quality…

Titan Storage Enhances Self-Storage Facility with Upgraded RV Storage Solutions in Spanish Fort, AL

Titan Storage, a major player in premium self-storage solutions, is excited to announce upgrades to its RV storage facility in South Alabama. Known for its climate-controlled units designed to protect high-value recreational vehicles, Titan Storage aims to make security and convenience top priorities for their customers. This move highlights its dedication to addressing the changing needs of RV owners throughout the region. Located in Spanish Fort, Alabama, the facility offers storage solutions that protect RVs from harsh weather. Equipped with high-definition night vision cameras and advanced access control technology, the…

Self-storage Building Approved by Planners in Mount Kisco, FL

Mount Kisco’s Planning Board has given approval to plans for the development of a self-storage facility at 2 Morgan Drive at the intersection with Radio Circle. The approximately 2.67-acre parcel is in the RDX Zoning District, which allows self-storage facilities. The three-story building would contain approximately 93,960 square feet and provide 12 off-street parking spaces. The developer is Asset Realty & Construction Group, which is based in Brooklyn. A plan to build a two-story structure at the site for housing a private car collection had been abandoned and the self-storage…

Great American Storage & RSG Development Demo Site for a New State-of-the-Art Storage Facility in Stratford, NJ

Great American Storage, RSG Development (RSG), and Stratford Borough Mayor Linda Hall began demolition for a new 107,100 sq ft self-storage facility. Great American Storage, an experienced developer and manager of Class-A Self-Storage, RV/Boat, and Garage Suites, joined by RSG Development (RSG) and Stratford Borough Mayor Linda Hall, began demolition on November 20th, 2024 for a new 107,100 gross square-foot self-storage facility in Stratford, New Jersey. The facility, Great American Self Storage of Stratford, is another collaboration between Great American Storage and RSG. The state-of-the-art storage facility, which is scheduled…

NexPoint Fully Subscribes $46 Million Self-Storage DST (a Delaware Statutory Trust) which Includes Self-Storage Properties in the United States

NexPoint, a multibillion-dollar alternative investment firm, today announced that it has fully subscribed its NexPoint Storage V DST, a Delaware Statutory Trust (“DST”) offering. The offering has reached its total goal of $46 million in equity raised since its launch in June. NexPoint Storage V includes two GenerationV (“GenV”), Class-A storage facilities located in Cape Coral, Florida, and Dundalk, Maryland. Both properties are managed by Extra Space Storage, a leading third-party manager of self-storage properties in the United States. The properties benefit from being accessible to high-growth metropolitan statistical areas,…