Author: Shinil Krishnan

$108M Financing Closed For 13-Property Self-Storage Portfolio in the Dallas-Fort Worth Metroplex, TX

JLL Capital Markets led the financing effort on behalf of Hines and Trez Capital JLL Capital Markets announced today that it has arranged $108 million financing with New York Life Real Estate Investors for a 13-property, self-storage portfolio located throughout the Dallas-Fort Worth Metroplex. On behalf of the borrower, a joint venture between Hines and Trez Capital, JLL Capital Markets arranged the five-year, fixed-rate loan through New York Life Real Estate Investors, who was able to provide an early rate lock, interest-only payments and prepayment flexibility early in the loan…

MegaCenter USA is Offering Premier Self-storage Unit Rentals and Office Space in Brickell, Miami, FL

This moving season, Megacenter USA is all set to meet the diverse needs of its clients, offering its safe, secure, and flexible Self-storage Unit Rentals and Office Space in Brickell, Miami – Florida. Whether someone is moving, operating a business, or just needs a seasonal storage space, MegaCenter USA’s Brickell, Miami location would be an ideal place to fulfill their needs. MegaCenter USA storage rental provides optimal solutions for those in transition, whether they’re downsizing to a sleek Miami apartment or expanding their business operations in the Magic City. With…

Featured Broker: Ian Lindahl

Ian Lindahl is an Investment Associate focused on the sale, acquisition, financing, research, and advisory services of institutional quality self-storage assets in the Northeast, Mid-Atlantic, and Southeast regions of the United States. With over a decade of sales experience, Ian can adapt and understand what his client’s needs are to help them achieve their goals. Ian believes that concentrating on a specialized niche and forging strong client relationships are the foundation of exemplary advisory services. His understanding of relationships in the industry and being available at all times makes him…

New Self-Storage Facility to Open in Redmond, OR

Ironside Storage is pleased to announce its new, state-of-the-art self-storage facility in Redmond, Oregon will open May 15. The facility, located at 2260 SW 6th St near Redmond Municipal Airport, features a total of 549 storage units encompassing 79,198 rentable square feet. The facility was designed by Designhaus Architects, based in Auburn Hills, MI, and developed by BECON Civil Engineering & Land Surveying, based in Bend, OR. Uprite Construction from Irvine, CA, oversaw the construction. The operations will be managed by West Coast Self-Storage Group, headquartered in Everett, Washington. Ironside…

U-Haul Moving & Storage of South Goldenrod is now Open in Orlando, FL

U-Haul Moving & Storage of South Goldenrod sits on 2.08 acres and offers 664 indoor climate-controlled self-storage rooms and 22 drive-up units, all of which include high-end security features at affordable price points. Storage customers can utilize drive-in spaces for covered load/unloading to have shelter from the weather. Customers also have access to moving trucks, boxes, moving supplies, retail self-checkout and more. U-Haul acquired the property on April 26 after having agreed to buy it from Golden Storage LLC® in the final stages of development. Normal business hours are 8…

Devon Self Storage to Manage Six Properties in Five US States

Oak Brook, Ill.-based Devon Self Storage, a member of The Inland Real Estate Group of Cos. Inc., has been awarded the property management contract for six self-storage properties in Indiana, Colorado, Michigan, Nevada, and Louisiana totaling roughly 361,000 square feet. The assets include a 603-unit property in Fort Wayne, Indiana, a 487-unit property in Northglenn, Colorado, a 459-unit facility in Waterford, Michigan, a 387-unit facility in Las Vegas; and a 595-unit property in Baton Rouge, Louisiana. To date, Devon manages 119 properties for 12 owners across the U.S. The firm…

Where Has All The Value Gone?

It’s no secret that capital markets and all forms of real estate have been impacted by the rise in interest rates over the past few years. Coming from historically low rates to a higher rate environment comes with plenty of challenges, particularly for those who have bought or built assets over the past 3-4 years. Of course, interest rates aren’t the only issue facing the self-storage industry and current asset values. Additional headwinds have come from a few different sides, and each of these could be the subject of separate…

Recent Transactions: 5.07.2024 – 5.13.2024

Property: Sedona Self Storage Location: Sedona, AZ Closing Deal: $ 1.15 Million Broker and Brokerage: Jeff Gorden of Keller Williams Commercial – Arizona and Nevada Broker Affiliate for the Argus Self Storage Advisors NRSF: 9,062 Unit Count: 93 units     Property: StoreEase Middleburg Location: Middleburg, FL Seller: Inkana Development Buyer: U-Haul Brokers and Brokerage: Ian Lindahl, Adam Schlosser and Ryan Nee of The LeClaire-Schlosser Group of Marcus & Millichap Square Feet: 63,280 Unit Count: 444 climate-controlled and 90 modified non-climate units Highlights: Consists of one single-story building Gated entry…

JV Secures $18 Million Loan for Hialeah Self-Storage Build in Hialeah, FL

  Hialeah Storage Associates, an affiliate of H&M Development and Blue Vista Capital Management, has obtained an $18 million construction loan from Old National Bank for a self-storage facility. The project will be built on a two-acre site at 2401 W. Okeechobee Road. The S. Florida Business Journal reports that the developer purchased the land for $5.58 million in 2023. Subsequently, it received an okay from the area planning agency for a 113,000-square-foot facility that can go three stories high and have 1,025 climate-controlled storage units. Kenneth Carlson will be…

Talonvest Capital Negotiates $16.8 Million Full Capital Stack for a Self-Storage Development in Magnolia, NJ

Talonvest Capital, Inc., a boutique self-storage and commercial real estate advisory firm, and Nuvo Development are pleased to announce a successfully tailored full capital stack which includes pari-passu joint venture equity investment as well as construction financing for a class A, self storage development in Magnolia, New Jersey. The site is centrally located in the core of a strong residential suburb of northwest NJ, a few miles southeast of Philadelphia, with a population of 102,000 in a 3-mile radius. Gary Cardamone, Chief Executive Officer at Nuvo, commented, “We couldn’t be…