Recent self-storage transactions reflect continued investor activity across a range of market conditions. While markets like Cheyenne (WY), Albany (GA), and Houston (TX) are all highly saturated – with supply ranging from 11 sf to 22 sf per capita – investors remain focused on localized demand drivers. Houston and Cheyenne benefit from larger populations, while demand in Albany is fueled by business use linked to various industries housed in the region and its role as a commercial hub in Southwest Georgia. In contrast, markets like Providence (RI) offer a compelling low-supply environment, with just 3 sf/capita, making it especially attractive from a long-term growth perspective. Collectively, these deals reflect market-specific strategies, ranging from targeting stabilized assets in saturated metros to pursuing growth opportunities in undersupplied areas.
Portfolio: 5-Property Self-Storage Portfolio
Locations: Houston, Texas, and Providence, Rhode Island MSA’s
Address 1: 2919 S Hwy 146, Bacliff, Texas
Address 2: 12610 Tanner Rd., Houston, Texas
Address 3: 4100 West 34th, Houston, Texas
Address 4: 3346 Pawtucket Ave., East Providence, Rhode Island
Address 5: 1115 Main St., Hope Valley, Rhode Island
Seller: Madison Capital Group and affiliates of Cerberus Capital Management
Brokers and Brokerage: Matthew Wheeler, Adam Roossien, Brian Somoza and Steve Mellon of JLL Capital Markets
Unit Count: 2,327 units (mix of climate-controlled and non-climate-controlled units, on-site security and RV and boat storage at select properties)
Year Completed: Between 1998 and 2014
Square Feet: 340,000
Highlights:
- The portfolio includes three Texas and two Rhode Island properties
- All of the properties were branded under the Go Store It name and consist of single and two-story drive-up properties that are well occupied
- JLL’s Self Storage Debt Advisory team representing the buyer/borrower was led by Managing Director Griffin Guthneck
- JLL’s Capital Markets group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries
Property: Security Self Storage (three-property portfolio)
Location: Cheyenne, WY
Brokers and Brokerage: Ben Vestal, Cole Carosella of Argus Self Storage Advisors
NRSF: 99,602
Unit Count: 725 units
Property: MCS Mini-Storage (C of O sale)
Location: Albany, GA
Broker and Brokerage: Ryan Haney of Coastal Storage Group, an affiliate of Argus Self Storage Advisor
Acreage: +/- 3.85 acres
Square Feet: 46,600
NRSF: 44,100
Unit Count: 330 units (mix of climate-controlled and drive-up units)
Highlights:
- This is an 11-building self-storage facility
- Coastal Storage Group rebranded from Weaver Realty in January of 2024 and has been there since 1999 covering the state of Florida and now the South Georgia territory
Property: Huffman 2100 Storage (six-building facility)
Location: Houston, TX
Year Built & Expanded: 2018 & 2023
Brokers and Brokerage: Dave Knobler, Charles LeClaire, Mixson Staffel and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap
NRSF: 48,550
Unit Count: 451 units (264 climate-controlled units, 172 non-climate-controlled units and 15 outdoor parking spaces)
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