Day: November 2, 2021

Featured Broker: Mike Mele

Mike Mele leads Cushman & Wakefield’s national Self-Storage Capital Markets Team. With more than two decades of experience as a self storage advisor, since joining C&W, Mike has galvanized his team to close around 447 self storage transactions totaling more than $5.6 billion. Accomplishments Chairman’s Circle of Excellence Award, Marcus & Millichap Chairman’s Club Award, Marcus & Millichap Top 5 Self-Storage Sales Broker, Marcus & Millichap – 1999 – 2000, 2002 – 2012, 2014 – 2018 National Achievement Award, Marcus & Millichap – 2003 – 2008, 2010 – 2018. 13-time…

Public Storage Enhances Portfolio Coverage

Public Storage (NYSE:PSA), the leading owner, acquirer, developer and operator of self storage properties, announced today the acquisition of the high-quality All Storage portfolio for $1.5 billion. The portfolio comprises 56 self storage properties (7.5 million net rentable square feet) primarily located in the growing Dallas-Fort Worth market. The 52 properties in Dallas-Fort Worth add prominent locations in new, high-growth submarkets in addition to complementary locations in Public Storage’s existing submarkets. With the addition of the acquisition properties, the Company’s Dallas-Fort Worth portfolio will be unmatched in coverage and quality,…

Life Storage Pays $43 Million for Two Buildings in Miami-Dade

A New York-based real estate investment trust made a hefty play on the Miami-Dade County self-storage market with the $43.5 million purchase of two facilities. Life Storage bought the buildings at 201 Northwest 37th Avenue and 6850 Southwest 81st Terrace in two deals. Entities tied to Kirchhoff Companies sold the buildings. Life Storage paid $22.5 million for the eight-story, 142,207-square-foot building on 37th Avenue. The property, which is in Miami, was constructed in 2018, property records show. Kirchhoff’s affiliate bought the 0.7-acre lot in 2016 for $1.3 million. In the…