Author: Alison DeJaeger

The same week that Adam Gordon’s Wildflower sold a self storage facility it built in the South Bronx for $65 million, entities connected to Brookfield Asset Management plunked down a combined $90 million for three properties in Brooklyn, each of which generated a significant return for their respective sellers. Brookfield Property Group bought a 67,000-square-foot self-storage building at 235 Park Avenue  in Clinton Hill, Brooklyn, for $32 million. Maddd Equities , Joy Construction and Cayre Equities sold the four-story building, also known as 45 Clinton Avenue, which they bought in 2018 for about $27…

Portfolio: Storage Post Portfolio (Managed) Number of Facilities: Four Locations: Long Island and Westchester County, NY Brokerage: JLL Buyer: Storage Post GSF: 370,000 Highlights: 24-Hour Video Recording Secure Coded Entry Covered Indoor Loading Bays Drive-Up Storage Units On-Site Parking Portfolio: Rettig U Stor Number of Facilities: Two Location: Findlay, OH Broker and Brokerage: John C. Lindsey of Lindsey Self Storage Group Portfolio: In Self Storage Portfolio Number of Facilities: Four Locations: Fort Worth and Dallas, TX Brokers and Brokerage: Danny Cunningham, Brandon Karr and Bryan Quaschnick of the Karr Self…

A New York-based self-storage developer picked up a three-property assemblage in Miami’s Wynwood that is primed for redevelopment. Buyer Storage Deluxe, led by firm founder and chairman Steven J. Guttman, paid $11.3 million for the property, which consists of two adjacent warehouses repurposed as office space and a parking lot at 328, 330 and 342 Northwest 29th Street. The firm does not have any immediate plans for the site, a company executive told The Real Deal. A project of up to 12 stories can be built on the three parcels, according…

With the self-storage market booming, developer Adam Gordon is cashing out. Gordon’s firm, Wildflower, sold a roughly 3,300-unit facility it built at 3350 Park Avenue in the Morrisania section of the Bronx to Atlanta-based operator Storage Post for $65 million, Gordon told The Real Deal. Wildflower bought the property in 2017 for $9 million, public records show, and developed the nearly 130,000-square-foot self storage building on the site. Gordon said the sale represents “our firm’s continued pivot into e-commerce and content creation.” Wildflower is developing a 775,000-square-foot film production studio in Astoria…

Property: CubeSmart Self Storage (Managed) Location: Durham, NC Brokers and Brokerage: John C. Lindsey of the Lindsey Self Storage Group Unit Count:  142 Boat and RV Spaces Property: Boat, RV and Self Storage Development Site Location: Jacksonville, FL Brokers and Brokerage: Thomas Gustafson, Matt Davis, Bart Hinson and Andrew Kinney of Colliers International Acreage: 4.66 Property: Self Storage Facility in Spokane, WA Location: Spokane, WA Buyer: StorageMart NRSF: 47,900 Unit Count: 273 Property: Fremont Self Storage Closing Price: $22.8 Million Location: Port Coquitlam, BC Buyer: Make Space Capital Partners NRSF:…

SmartStop Self Storage REIT, Inc., a self-managed and fully-integrated self storage company, and Strategic Storage Growth Trust II, Inc., a private REIT sponsored by an indirect subsidiary of SmartStop, announced today that the companies have entered into a definitive agreement to merge in an all-stock transaction, in which SSGT II will merge into a newly-formed subsidiary of SmartStop. The combined company will have a combined portfolio of 150 wholly-owned operating properties, representing approximately 11.5 million net rentable square feet and 100,500 units. This transaction will allow the combined company to,…