JV Purchases Eight-Property Portfolio in Virginia and Maryland

A joint venture involving ASB Real Estate Investments and Arland Property Co. acquired a 595,888-rentable-square-foot self storage portfolio of eight buildings in Virginia and Maryland. The joint venture was in behalf of the ASB Allegiance Real Estate Fund, a $7.4 billion core vehicle that now totals 26,600 units and 2.3 million square feet. Virginia Chesapeake Resources Inc. was the seller. Self-Storage Plus will manage the properties. Source

Trojan Storage Plans Large Self Storage Facility in San Fernando Valley

Trojan Storage is looking to build a 167,000-square-foot self storage facility in the San Fernando Valley, expanding in a Los Angeles market that is the biggest in the nation in that sector. The firm is planning the complex at 14201 South Paxton Street in Arleta, according to data from PropertyShark. The proposed facility would rise on a vacant lot spanning 2.8 acres. KoBre Holdings, Trojan’s parent company, did not respond to a request for comment. The largest planned structure in the project is a three-story self storage facility that spans 152,280 square…

Marcus & Millichap Arranges The Sale Of A 68,715-Square Foot Self Storage Facility

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of SafeKeeping Self Storage, a 68,715-square foot self storage facility located in Weatherford, Texas. Brandon Karr and Danny Cunningham, investment specialists in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a private partnership. The buyer, a long-time storage owner/operator based in DFW, was also secured by Mr. Karr and Mr. Cunningham. ‘Our team began…

All Storage Courts $1 Billion+ Sale with CBRE

How many self storage units could $1 billion buy? The operators of All Storage appear poised to find out. The self storage company runs 50 facilities in Texas and three in Oklahoma, but the operator appears ready to box up ownership. The company is exploring a sale that could net more than $1 billion, according to Bloomberg. The company has started to solicit interest from potential buyers with assistance from CBRE in the sale exploration, Bloomberg reported, citing people with knowledge of the matter. The outlet didn’t identify any potential…

The William Warren Group Expands in Sacramento

The William Warren Group has entered the Sacramento, Calif., self storage market with the opening of a 79,671-square-foot facility. This is one of the seven Sacramento properties managed by the company under the StorQuest brand. Completed in late August, the self storage facility was built with the help of $5.8 million in construction financing from Zions Bank. The property is located at 5701 Mack Road and comprises six single-story buildings across 7.5 acres. Storage spaces include climate-controlled units as well as RV and boat parking spaces. Unit size ranges between…

KKR Grows Self Storage Portfolio with New Acquisitions in Major Sun Belt Markets

KKR, a leading global investment firm, today announced that KKR has acquired five self storage properties totaling approximately 3,884 units for an aggregate purchase price of approximately $92 million. The properties were acquired in separate transactions with two different sellers. All five properties are strategically located in proximity to the high-growth metropolitan areas of Atlanta, Georgia (two properties), Phoenix, Arizona (two properties) and Orlando, Florida (one property). All were built or renovated between 2017 and 2020. “We are excited to further grow our self storage portfolio with these high quality…

Tulfra Acquires 265,000 Square Foot Site for Storage, Parking Project in Jersey City

Tulfra Real Estate has received final approval to build a 265,000-square-foot, state-of-the-art storage facility and adjoining parking at 300 Thomas McGovern Drive in Jersey City, it said last week. A groundbreaking will be announced shortly. The price of the purchase was not disclosed. With New York City and downtown Jersey City virtually minutes away, it offers that rare combination of a perfect location in a major distribution center near a high concentration of new residential developments.” Sonny Jumani, CEO of the Rochelle Park-based real estate investment company, said the property is…

Marcus & Millichap Sells 61,560-Square Foot Self Storage Center in Wisconsin

Marcus & Millichap closed the sale of Advance Self Storage Center, a 61,560-square-foot self storage facility Hager City, Wisconsin. Brian Kelly, Brett Hatcher and Gabriel Coe, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller. They also secured the buyer in the transaction. Todd Lindblom, Wisconsin Regional Manager and Broker of Record, assisted in closing this transaction. Advance Self Storage Center is located about 40 miles south-east of Minneapolis. The facility features 376 non-climate-controlled units, totaling 61,560 net…

Self Storage Facility Commands $49 Million

A partnership between Invesco Real Estate and Baranof Holdings has paid $48.5 million for Solana Beach Storage, an 895-unit self storage facility in Solana Beach, Calif. Cushman & Wakefield negotiated the transaction on behalf of the buyer. The seller, a private investor, developed the property in 1993. The facility was 92 percent leased at the time of the sale. Extra Space Storage was tapped to manage the asset. Located at 545 Stevens Ave. W., Solana Beach Storagecomprises seven one- and two-story buildings spanning 3.5 acres. Storage spaces range between 20…

SpareBox Storage Acquires 28 Stabilized Self Storage Properties in Michigan and Ohio

SpareBox Storage, a national self storage platform focused on consolidating the highly fragmented self storage sector across the United States, announced today that it has acquired 28 stabilized properties in Michigan and Ohio and has added 1.9 million net rentable square feet to its portfolio. With this acquisition, SpareBox has opened up seven new markets in the Midwest with strong underlying fundamentals and demographics. Steve Treadwell, CEO of SpareBox Storage noted, “We are incredibly proud to complete our largest acquisition to date, with the addition of 28 properties in thriving…