Investor activity in early April highlights a strong demand for self-storage assets across varied markets and strategies. Deals ranged from ground-up development in Miami to stabilized acquisitions in Texas, with a $65 million portfolio transaction in Houston underscoring investors’ long-term optimism and confidence in the self-storage sector. Multi-property deals and retail conversions point to a focus on scale, flexibility, and creative reuse – particularly in dense suburban markets with strong demographics.
Property: Class A Self-Storage Development Site (fully entitled 7-stories development site)
Location: Miami, FL
Address: 2210 NW 14th Street, Miami, Florida
Brokerage: Coastal Storage Group, broker affiliate of Argus
Acreage: 0.62 acre
Gross Square Feet: 143,490
NRSF: 92,400
Highlights:
- Has an additional 2,300 GSF of retail space on the bottom floor
- This site was sold with Warrant (Site Plan) approval which included a moratorium on storage within 2500 feet of the site
- Coastal Storage Group rebranded from Weaver Realty in January of 2024 and has been the Argus Self Storage Advisor Affiliate since 1999 covering the state of Florida and now the South Georgia territory
Portfolio: Five-Property Self-Storage Portfolio
Location: Houston, TX
Year Completed: between 1998 and 2014
Seller: Madison Capital Group
Buyer: SROA Capital
Finance: Northwestern Mutual
Loan Amount: $65 Million (8-year acquisition loan)
Broker and Brokerage: Matthew Wheeler, Adam Roossien, Brian Somoza and Steve Mellon, led the JLL Capital Markets Self Storage team representing the seller. Griffin Guthneck led the JLL Self Storage Debt Advisory team that worked on securing the loan
NRSF: 340,000
Unit Count: 2,327 units
Highlights:
- Three facilities are in the Houston metro area
- The largest was a 117,960-square-foot facility on Tanner Road, consisting of 11 single-story buildings across 9 acres
- All five properties bought from Madison Capital Group operated under the Go Store It brand
- The facilities are now part of SROA’s Storage Rentals of America brand
- Has climate and non-climate-controlled units, as well as RV and boat storage
Portfolio: Stronghold Self Storage (three-property portfolio)
Locations: Erlanger & Middletown, KY and Cincinnati, OH
Buyer: Various LLCs led by Zach Quick of QStorageM
Lender: PSG Lending
NRSF: 147,234
Unit Count: 1200 units
Property: Five Star Store It
Location: Westland, Michigan
Address: 5235 S. Merriman Road, Westland, Michigan
Buyer: MyPlace Storage
Brokers and Brokerage: Steve Chaben (broker of record), Brett Hatcher, Gabriel Coe and Nathan Coe of The Hatcher Coe Group of Marcus & Millichap
Acreage: 22 acres
NRSF: 115,707
Unit Count: 1,103 units (30 climate-controlled, 774 non-climate-controlled units and 229 parking spaces)
Highlights:
- The property has high visibility, excellent street frontage and a dense surrounding population of 215,668 people within five miles
- A retail component on-site will be converted into climate-controlled storage
Property: Extra Space Storage (privately owned, REIT-managed Facility)
Location: Carrollton, Texas
Year Built & Expanded: 1996 & 2001
Brokers and Brokerage: Brandon Karr of Marcus & Millichap
Square Feet: 114,236
Unit Count: 143 climate-controlled units, 448 drive-up units, six office suites and 101 uncovered parking spaces
Highlights:
- The facility sits on two adjacent parcels at 2422 Marsh Lane
- The facility has a leasing office, a two-bedroom manager’s residence
- Gated keypad access
- 24-hour video surveillance and perimeter fencing
______________________________________________________________________________________________________
Do you have a closed/recent transaction to add? Please send us the details at info@listselfstorage.com
