Author: Alison DeJaeger

All Storage Courts $1 Billion+ Sale with CBRE

How many self storage units could $1 billion buy? The operators of All Storage appear poised to find out. The self storage company runs 50 facilities in Texas and three in Oklahoma, but the operator appears ready to box up ownership. The company is exploring a sale that could net more than $1 billion, according to Bloomberg. The company has started to solicit interest from potential buyers with assistance from CBRE in the sale exploration, Bloomberg reported, citing people with knowledge of the matter. The outlet didn’t identify any potential…

The William Warren Group Expands in Sacramento

The William Warren Group has entered the Sacramento, Calif., self storage market with the opening of a 79,671-square-foot facility. This is one of the seven Sacramento properties managed by the company under the StorQuest brand. Completed in late August, the self storage facility was built with the help of $5.8 million in construction financing from Zions Bank. The property is located at 5701 Mack Road and comprises six single-story buildings across 7.5 acres. Storage spaces include climate-controlled units as well as RV and boat parking spaces. Unit size ranges between…

KKR Grows Self Storage Portfolio with New Acquisitions in Major Sun Belt Markets

KKR, a leading global investment firm, today announced that KKR has acquired five self storage properties totaling approximately 3,884 units for an aggregate purchase price of approximately $92 million. The properties were acquired in separate transactions with two different sellers. All five properties are strategically located in proximity to the high-growth metropolitan areas of Atlanta, Georgia (two properties), Phoenix, Arizona (two properties) and Orlando, Florida (one property). All were built or renovated between 2017 and 2020. “We are excited to further grow our self storage portfolio with these high quality…

Tulfra Acquires 265,000 Square Foot Site for Storage, Parking Project in Jersey City

Tulfra Real Estate has received final approval to build a 265,000-square-foot, state-of-the-art storage facility and adjoining parking at 300 Thomas McGovern Drive in Jersey City, it said last week. A groundbreaking will be announced shortly. The price of the purchase was not disclosed. With New York City and downtown Jersey City virtually minutes away, it offers that rare combination of a perfect location in a major distribution center near a high concentration of new residential developments.” Sonny Jumani, CEO of the Rochelle Park-based real estate investment company, said the property is…

Marcus & Millichap Sells 61,560-Square Foot Self Storage Center in Wisconsin

Marcus & Millichap closed the sale of Advance Self Storage Center, a 61,560-square-foot self storage facility Hager City, Wisconsin. Brian Kelly, Brett Hatcher and Gabriel Coe, investment specialists in Marcus & Millichap’s Columbus office, had the exclusive listing to market the property on behalf of the seller. They also secured the buyer in the transaction. Todd Lindblom, Wisconsin Regional Manager and Broker of Record, assisted in closing this transaction. Advance Self Storage Center is located about 40 miles south-east of Minneapolis. The facility features 376 non-climate-controlled units, totaling 61,560 net…

Self Storage Facility Commands $49 Million

A partnership between Invesco Real Estate and Baranof Holdings has paid $48.5 million for Solana Beach Storage, an 895-unit self storage facility in Solana Beach, Calif. Cushman & Wakefield negotiated the transaction on behalf of the buyer. The seller, a private investor, developed the property in 1993. The facility was 92 percent leased at the time of the sale. Extra Space Storage was tapped to manage the asset. Located at 545 Stevens Ave. W., Solana Beach Storagecomprises seven one- and two-story buildings spanning 3.5 acres. Storage spaces range between 20…

SpareBox Storage Acquires 28 Stabilized Self Storage Properties in Michigan and Ohio

SpareBox Storage, a national self storage platform focused on consolidating the highly fragmented self storage sector across the United States, announced today that it has acquired 28 stabilized properties in Michigan and Ohio and has added 1.9 million net rentable square feet to its portfolio. With this acquisition, SpareBox has opened up seven new markets in the Midwest with strong underlying fundamentals and demographics. Steve Treadwell, CEO of SpareBox Storage noted, “We are incredibly proud to complete our largest acquisition to date, with the addition of 28 properties in thriving…

Argus Broker Affiliates Announce Sale of Minnesota Self Storage Facility

Tom Flannigan, Alex Ihrke and Matt Haugen of KW Commercial Minneapolis represented the seller and procured the buyer for the sale of Storage Lounge in Mankato, Minnesota. The multi-level facility sold for $8,100,000 and consists of 759 units. There is a total of 75,734 rentable square feet of climate controlled self storage and the facility sits on 1.81 acres.  Tom and Alex are the Argus broker affiliates representing the states of Minnesota, North Dakota and Iowa. They can be reached at 651-269-6307.  Based in Denver, Colorado, Argus Self Storage Advisors…

Pogoda Companies Appoints Beau Agnello as Senior Vice President of Operations

We are very pleased to announce the appointment of Beau Agnello as Senior Vice President of Operations at Pogoda Companies. Beau will be responsible for overseeing all operations for our self- storage portfolio and third-party managed properties. In addition, he will be instrumental in formulating strategic plans for the company's continued expansion, maximizing the investment value of all managed/owned facilities, updating policies and procedures, and will utilize the latest technology within the self storage industry to improve operations. Beau began his self storage career with a self storage REIT in…

Colliers Consults on $20 Million Self Storage Deal

Senior Vice President Tom de Jong of Colliers’ Self Storage Group acted as a consultant on behalf of the seller in a $20 million sale of a new Extra Space Storage facility in Tigard, Oregon, southwest of Portland. The sale closed on August 31, 2021 and was purchased by Red Hat Enterprises, an experienced self storage investor with 12 other properties managed by Extra Space Storage. The Extra Space Storage self storage facility is a third party managed facility and was completed in January 2020 and was sold by the…