Recent Closings: 7.12.2022 – 7.18.2022

Portfolio: Nicol Investment Company’s Self Storage Portfolio
Closing Price: $102 Million
Locations: Franklin, Hendersonville, Nashville and Two Facilities in Murfreesboro, TN
Brokers and Brokerage: Ashley Compton of Colliers Self Storage Group
Buyer: Hines Global Income Trust
NRSF: 341,202 and 13,445 of Retail Space
Unit Count: 3,204 Climate-Controlled Units
Details:
  • Carothers – 697-unit, 71,925 net RSF of storage on Carothers Parkway in Franklin, TN
  • Hendersonville – 599-unit, 67,893 RSF of storage with 9,545 SF of 4 ground-floor retail suites on Saundersville Road in Hendersonville, TN
  • Murfreesboro – 577-unit, 67,315 net RSF of storage on Medical Center Parkway in Murfreesboro, TN
  • Nashville – 607-unit, 59,698 RSF of storage with 3,900 SF of ground-floor retail space on Alabama Avenue in Nashville, TN
  • The Avenue – 724-unit, 74,372 net RSF of storage on Livy Dearing Place in Murfreesboro, TN

Portfolio: Home Star Storage
Locations: Atlanta, GA, Cincinnati, OH and Orlando, FL
Brokers and Brokerage: Brett Hatcher and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap
NRSF: 213,960
Unit Count: 2,062
Occupancy: 81%

Property: StoreEase (Managed)
Location: Gainesville, GA
Broker and Brokerage: John C. Lindsey of Lindsey Self Storage Group
Buyer: Liberty Investment Properties
NRSF: 131,470 

Property: The Storage Spot
Closing Price: $20 Million
Location: Fremont, CA
Broker and Brokerage: Levin Johnston of Marcus & Millichap
Unit Count: 645 

Property: Vault Storage
Location: North Wales, PA
Buyer: SecureSpace
NRSF: 82,080 Climate Controlled
Year Built: 2018 

Property: Greater Jacksonville, FL Facility
Location: St. Johns, FL
Buyer: Strategic Storage Trust VI
NRSF: 60,000
Unit Count: 490
Property: Urban Storage
Closing Price: $18 Million
Location: Tacoma, WA

Property: CubeSmart Managed Facility
Closing Price: $32.5 Million
Location: Shoreline, WA
Buyer: Harrison Street Capital
Seller: Columbia Pacific Advisors
NRSF: 129,261

Property: CubeSmart Managed Facility
Closing Price: $37.4 Million
Location: Woodville, WA
Buyer: Harrison Street Capital
Seller: Columbia Pacific Advisors
NRSF: 95,527
Property: GreenFill Storage
Location: Memphis, TN MSA
Brokers and Brokerage: John C. Lindsey and Jim Ritchie of Lindsey Self Storage Group
NRSF: 107,105
Property: AAA RV and Boat Storage
Closing Price: $8.05 Million
Location: Arvada, CO
Brokers and Brokerage: Jason White and Nick Steitz of JLL
Property: Former Walmart at Midtown Center
Closing Price: $3.28 Million
Location: Milwaukee, WI
Buyer: Affordable Family Storage
Building GSF: 160,000
Acreage: 15.0+

Portfolio: Greater Atlanta MSA/Fort Knox Self Storage Portfolio
Locations: Gainesville and Hampton, GA
Brokers and Brokerage: Scott Schoettlin, Bryce Josepher and Zach Urow of SkyView Advisors
NRSF: 42,953
Unit Count: 263
Room for Expansion: 23,500 Approved NRSF
Highlights:
  • The New Investor Is Acquiring Over 40,000 NRSF of Storage with Multiple Value-Add Opportunities
  • Retail Conversion Opportunity Allowing for 5,000 NRSF in Self Storage for the Gainesville Asset
  • The New Owner Will Have the Opportunity to Raise Rental Rates to Reach Market Levels by Four Percent Portfolio-Wide
  • Very Low Supply of 1.26 NRSF Per Capita for Hampton Facility
  • Both Sites are Situated Along High Traffic Count Roads Averaging Over 19,000 Vehicles Per Day

Property: The Storage Stop
Location: Amarillo, TX
Broker and Brokerage: John Owens of KW Commercial Investment Advisors
NRSF: 21,900
Unit Count: 130
Physical Occupancy: 95%
Room for Expansion: Yes

Property: Megacenter Palmetto (Mixed Use)
Closing Price: $33 Million
Location: Medley, FL
Buyer: BaySpace (Formerly MCSS)
NRSF: 180,000
Acreage: 8.6
Year Built: 1970

Property: Bluewater Self Storage
Location: Murrells Inlet, SC
Broker and Brokerage: Michael Morrison of Midcoast Properties
Unit Count: 265
Acreage: 2.44

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