Day: January 7, 2025

NexPoint Launches Sixth Storage DST, Continuing Expansion of Firm’s Self-Storage Platform in the US

NexPoint, a multibillion-dollar alternative investment firm, today announced the launch of NexPoint Storage VI DST, a Delaware Statutory Trust (“DST”) offering, which includes two Generation-V (“GenV”), Class-A storage facilities in the Nashville and Washington-Arlington-Alexandria (“Washington DC MSA”) metropolitan statistical areas (“MSAs”). The two GenV storage facilities, located in Temple Hills, Maryland, and Nashville, Tennessee, will be managed by Extra Space Storage, an industry-leading owner and operator of self-storage properties. NexPoint believes both regions present attractive long-term investment opportunities given the favorable demographic qualities. The $45 million offering qualifies for 1031…

StoragePRO Management Inc. Acquires New York-based Self-Storage Management Company Storage Investment Management Inc.

StoragePRO Management®, Inc., “StoragePRO®, the nation’s leading independent third-party property management company specializing in self-storage, has announced that on January 1, 2025, it will acquire New York-based boutique storage management company Storage Investment Management, Inc. (SIMI). This acquisition is a testament to StoragePRO’s commitment to expanding its national management footprint. The acquisition of the SIMI portfolio of 20 managed properties adds 1 million square feet and over 8,700 units to the StoragePRO Management portfolio, bringing their total managed assets to over $2 billion. This growth into twenty new cities and…

A Large Self-Storage Facility is Under Construction in Jersey City, NJ

A new storage facility is rising in the shadow of the Statue of Liberty. Just minutes from Downtown Jersey City at 300 Thomas McGovern Drive, Liberty Storage Center will house 795 self-storage units. Rochelle Park-based Tulfra Real Estate recently announced the closing of a construction loan to fund the project. Tulfra worked with state and city agencies to acquire all necessary permits to build the storage facility on the site of a former concrete plant. When construction is finished, the building will be managed by Public Storage. Senior Managing Directors…

A New Self-Storage Facility Opens in Kimball, NE

A Kimball couple has opened a new storage facility in town. Kimball Self Storage, located at 213 Kearney Street, is owned by Lexi and Riley Haug who moved to Kimball three years ago. Lexi Haug says she has seen the growth of Kimball since moving here and the potential for more growth, so about a year ago, they had the idea to try out a business running a storage unit facility. “We noticed that all the other storage unit facilities appear to have waitlists or are full and working as…

Recent Transactions: 12.17.2024 – 01.06.2025

Stay up-to-date on the latest self-storage transactions happening nationwide! If you have a recent transaction to share, let us know—your updates help keep our community informed.   Property: Self Storage MN Location: Elk River, MN Year Built / Expanded: 2021 / 2024 Buyer: Acorn Mini Storage Brokers and Brokerage: Matt Haugen, Alex Ihrke, Nathan Gottlieb, and Tom Flannigan of Argus Self Storage Advisors ( Minnesota, Iowa and North and South Dakota Broker Affiliates) Acreage: 8 acres NRSF: 41,650 Unit Count: 190 drive-up units   Property: Park South Storag Location: Bessemer,…

U-Haul Opens New Store in the Heart of Panama City Beach, FL

U-Haul is serving customers at its first retail, moving and self-storage facility in Panama City Beach. U-Haul Moving & Storage of Panama City Beach at 11222 Hutchison Blvd. was acquired on Dec. 17. The former A+ Storage® location sits on 2.18 acres and is located across from Edgewater Villas, one block from Front Beach Road and the Gulf of Mexico. U-Haul of Panama City Beach offers a three-story building with more than 500 indoor climate-controlled storage rooms at affordable price points. Customers also have access to moving trucks and a…

2025 Outlook – by, Ben Vestal of Argus Self Storage Advisors

It’s that time of year when we reflect on the lessons learned in 2024 and set our sights on the new year. Without question, 2024 proved to be a very challenging year. There was real anxiety related to soft market fundamentals, rising interest rates which made most investment reports irrelevant, and pricing discovery on every deal. In many ways, 2024 was not that much different than 2023. What we do know is that the investment market has continued to evolve and the overall outlook for 2025 is cautiously optimistic. Over…