Author: Alison DeJaeger

Newmark Arranges $360M Financing For Self Storage Portfolio

Newmark Group Inc has arranged $360 million in financing for a 50-asset, 3.9 million-square-foot national self storage portfolio on behalf of Angelo Gordon and Andover Properties. Critical to the success of this transaction was the strength of sponsorship between Andover, with its Storage King USA operating platform and Angelo Gordon, with its deep sector experience and large equity commitment to the portfolio.” It added that the portfolio is well-leased and located in strong primary markets and submarkets across the country. The team that closed the debt was led by Vice-Chairmen and Co-Heads of…

Mini Mall Storage Properties Secures $72 Million Acquisition Loan from HIG

HIG Capital’s real estate debt arm has provided a $72m (€70.7m) loan to assist North American self-storage firm Mini Mall Storage Properties to buy a 5,000-unit portfolio. HIG Realty Credit Partners has originated the loan to assist in the acquisition of the self-storage portfolio located in three states across the Southeast US. Michael Mestel, managing director at HIG Realty Credit Partners, said: “We are excited about this unique opportunity to finance an asset class with such strong fundamentals.” Adam Villard, CEO at Mini Mall Storage Properties, said: “We are pleased to partner…

Custom RV Storage, Park Planned Near Yucca

This is from Riverbound in Havasu Heights. Canyonbound, planned on I-40 near Yucca, is modeled after the Havasu development. The company that developed Riverbound Custom Storage & RV Park in Havasu Heights is planning a similar project along I-40 near Yucca – but this one will include a professional-quality motocross facility. Canyonbound Storage Management recently purchased about 102.8 acres located near the Chrysler Proving Grounds – just south of Area 66 on the interstate – from Las Vegas-based companies AZPrime and Mojave HM for $2.5 million. The property is south…

Self Storage Project in Branchburg, New Jersey

Arthur’s Self Storage, a new facility in Branchburg, New Jersey, by Cyzner Properties, will feature RV/boat storage space and a 4,000-square-foot specialized wine storage cave designed for restaurants and caterers. Progress Capital has arranged a $23 million construction loan for a 1,000-unit self storage project in Branchburg, about 50 miles west of New York City. The site, which is also zoned to support the future development of 160 multifamily units, will house three two-story buildings with units of varying sizes. Kathy Anderson and Caillin Boles of Progress Capital arranged the…

Recent Transactions: 11.02.2022 – 11.09.2022

Property: AA U-Stor-M Location: Upland, CA Buyer: Merit Hill Capital LP Seller: Cameron Properties Broker and Brokerage: Brandon Robinson of Calvary Realty NRSF: 256,000 Units: 1,147 units and 71 vehicle-storage spaces Closing Price: $38.7 million   Property: Two AAAA Self Storage properties Location: Virginia Beach, VA Buyer: StorageMart NRSF: 316,304 Units: 1,860 units and 14 vehicle-storage spaces   Property: Ameri-Guard Storage Center Location: New Albany, IN Buyer: Pogoda Cos. NRSF: 95,000   Property: Two American Self Storage facilities Location: Washington, D.C. Buyer: Arcland Property Co. NRSF: 281,000 Units: 3,100 units…

Storage Exchange Closes Over 245,000 NRSF in October 2022

Storage Exchange announces the closing of five self storage facility transactions in October 2022, comprising of over 245,000 NRSF. These properties are located in Kansas, Illinois, and Arkansas. McCall & Sunflower Self Storage: Located in Manhattan, KS, this two-property portfolio contains 118,390 rentable sq. ft. The two facilities are located 2.4 miles from each other and well-positioned off highly trafficked thoroughfares. Hunter Molnar, VP of Investment Sales for Storage Exchange, facilitated the sale of both properties. Ottawa Route 6 Storage: With room for expansion, this property has great access and…

Why User Engagement Is the New Key to Your Website’s Success

Do you know how many people come to your website every day? Or how many go on to make a reservation or become a lead? If you have set up Google Analytics on your website, you may already have these answers and you can also see how well your website is performing over time. However, Google is retiring their existing version of Google Analytics, in favor of Google Analytics 4 (GA4), on July 1, 2023. This change will have little to no impact on how your customers interact with your…

Grapevine, TX

Using the Market Discovery Tool from StorTrack Explorer, we located Grapevine, TX. This charming city thrives on travel and tourism however the supply metrics indicate an interesting market for storage. The square footage per capita in Grapevine is 7.44. The US national average is 7.98 square feet per capita and the Texas state average is 10.53 square feet per capita. Across all unit types, 75% of unit pricing is currently advertised online. Rate Trends The rates in this market have trended down in the last three months by -5.52%. The…

Recent Transactions 10.11.2022 to 10.17.2022

Property: Main Street Self Storage Location: Havelock, NC Seller: The Storage Acquisition Group Broker and Brokerage: Hal H. Tanner of Midcoast Properties Inc. NRSF: 31,231 Units: 257 traditional drive-up and climate-controlled units plus parking Portfolio: Two Tropical Self Storage Properties Location: Stuart, FL Buyer: StorageMart Units: 972 NRSF: 100,000  Property: CubeSmart Self Storage (Managed) Location: Dallas, TX Brokers and Brokerage: Brian Somoza, Steve Mellon, Matthew Wheeler, Adam Roossien and Jake Kinnear of JLL Capital Markets Seller: CSW Development Buyer: NRSF: 117,503 Units: 1,252 Occupancy: 50% Portfolio: Three Self Storage Facilities…

Former Family-Owned Grocery Store to Become Storage Facility

A building once home to a family-owned grocery is heading toward a new use, following a vote Tuesday from the Weirton Zoning Board of Appeals. Antonio Magnone went before the board with a request for a conditional use to establish an indoor self-storage facility at 3684 Pennsylvania Ave in Weirton, WV. “I want to do an indoor, climate-controlled storage,” Magnone explained, noting the building has “good bones,” although the parking lot has some issues. Board Chair Keith Huntzinger stated the building in question once was the home of DeCaria’s Market.…