Author: Alison DeJaeger

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of SafeKeeping Self Storage, a 68,715-square foot self storage facility located in Weatherford, Texas. Brandon Karr and Danny Cunningham, investment specialists in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the seller, a private partnership. The buyer, a long-time storage owner/operator based in DFW, was also secured by Mr. Karr and Mr. Cunningham. ‘Our team began…

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…

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…

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, 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…

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…