Author: Alison DeJaeger

Snapbox Continues Expansion in Maryland and Florida

Philadelphia based self storage operator, Snapbox Self Storage, continues their expansion up and down the East Coast with the acquisition of three early lease-up properties in Windsor Mill, MD for an undisclosed price and in Fort Lauderdale, FL and Miami, FL for $38 million. All three properties closed in December 2021. Snapbox Self Storage – Windsor Mill, is located at 2760 Lord Baltimore Drive, Windsor Mill, MD, in the Windsor Mill neighborhood. Positioned in a great location and close to nearby cities Woodlawn, Lochearn, Randallstown, Catonsville, Millford Mill and near Western Baltimore. The 103,000 square-foot Class-A property with over 1,100 storage units was built in 2020 and…

The Industry That Keeps Hitting Home Runs

The business of brokering self-storage transactions in 2021 reminded me of baseball’s home run race in 1998 as Mark McGwire and Sammy Sosa both eclipsed Roger Maris’ mark of 61 homers that had stood for 37 years. Yes, it seemed the market surrounding the buying and selling of self storage properties was also on steroids. There were several metrics “juicing” up the transactional statistics of 2021, namely low interest rates, lowered supply due to fewer properties being constructed in the early period of COVID, increased rates from pent up demand…

Recent Closings: 1.18.22 – 1.24.22

Property: Class A Facility Closing Price: $20.2 Milllion Location: Langford, B.C. Brokers and Brokerage: Connor Braid, Harry Jones and Patrick Wood of William Wright Commercial, Victoria, B.C. NRSF: 39,525 Lot Size: 67,705 SF Acreage: 1.5 Year Built: 2020 Property: Self Storage Facility and Car Wash Location: Concord, NH Brokers and Brokerage: Joe Mendola of NAI Norwood Group, an Argus Self Storage Advisor Affiliate Unit Count: 443 Property: Alamo Boat & RV Storage Location: Lubbock, TX Brokers and Brokerage: John Owens of KW Commercial NRSF: 165,985 Unit Count: 396 Year Built:…

LandPark Advisors Acquires Self Storage Facility in Houston, Texas

LandPark Advisors, LLC. acquired the self storage facility located at 11901 SF 249, Houston, TX, currently known as Easy Self Storage. LandPark intends to enact a comprehensive two-part strategy by extensively improving and rebranding the appearance of the facility and leasing up brand-new, climate-controlled units at market rates while capitalizing on the exceptional Houston MSA, both in terms of population growth and ongoing economic diversification. This was a unique opportunity for us since our management company, Right Move Storage, has managed this asset since 2017 and also coordinated the construction…

Stratford Considering Moratorium on Self Storage Buildings

When a new self storage facility opened near the Dock Shopping Center in 2020, the town government praising the development, stating it would bring revenue to the town. With two new self storage buildings in the planning stages, Economic and Community Development Director Mary Dean said it is becoming too much. Dean recently presented a moratorium proposal to the Economic Development Commission that would put a stop to additional self storage building developments in town. She said the town had become saturated with them and a pause would allow the town to…

Recent Closings: 1.11.22 – 1.17.22

Portfolio: American Storage Portfolio Cap Rate: 6.5% Location: Amarillo, TX Brokers and Brokerage: John Owens of KW Commercial NRSF: 51,669 Unit Count: 380 Year Built: 2011 Occupancy: 84% Acreage: 3.03 Room for Expansion: Yes Portfolio: Extra Space Storage 16-Property Portfolio Locations: 12 States Brokers and Brokerage:  Aaron Swerdlin, Kenneth Cox and Taucha Hogue of Newmark NRSF: 1,300,000 Unit Count: 380 Buyer: Rosewood Property Company Property: All Town Storage Location: Granby, MA Brokers and Brokerage: Luke Dawley, Brett Hatcher, Nathan Coe and Gabriel Coe of The Hatcher Group of Marcus &…

Evanston, IL

Using the Market Discovery Data Tool from StorTrack Explorer, we were able to review data on Evanston, a city in Cook County, IL. Rates have been trending upwards by nearly 23% over the past year and current supply is 3.1 square feet per capita. To view additional metrics, visit the link labeled “Click Here to View Market Information” or go to StorTrack.com to purchase historical data.

Talonvest Secures Acquisition Loan for 16-Property, 1.3 Million NRSF Portfolio

Talonvest Capital, Inc., a boutique self storage and commercial real estate mortgage brokerage firm, negotiated a permanent loan on behalf of Rosewood Property Company for the acquisition of a 16-property storage portfolio. This acquisition is the largest self storage transaction in Rosewood Property Company’s history and consists of approximately 1.3 million net rentable square feet of space in roughly 12,000 units across 12 states. Much of the portfolio consists of traditional storage offerings, although some of the facilities offer climate-controlled interiors, drive-up capabilities, and covered outdoor parking for RVs and…

Reliant Real Estate Management Buys Self Storage Portfolio

Reliant Real Estate Management, a Midgard Self Storage affiliate, has acquired a six-property self storage portfolio totaling 3,070 units in metro Atlanta. The properties traded for more than $67 million, according to Fulton County and Cobb County records. The seller was Your Extra Attic, a family-owned business. Marcus & Millichap arranged the transaction on behalf of the seller and helped procure the buyer. The facilities will operate under the Midgard Self Storage flag. Portfolio Breakdown The transaction included the 536-unit facility at 2909 Log Cabin Drive SE in Smyrna, Ga.…

StorQuest Self Storage Provides Support to Marshall Fire Victims

In an attempt to support Louisville’s restoration efforts, and help those impacted by the Marshall Fire, StorQuest is donating $1 from every rental at 28 Colorado facilities to support the Boulder County Community Foundation’s Wildfire Fund. The Marshall Fire, which started on Dec. 30, destroyed over 1,000 structures and 35,000 people were forced to evacuate from Boulder County, including the city of Louisville where StorQuest’s facility is located at 1200 Lock St. StorQuest’s donation will assist in aligning resources while the non-profit foundation will work with government and nonprofit partners to disperse…