Author: Shinil Krishnan

Recent Transactions: 6.25.2024 – 7.01.2024

Portfolio: A+ Self Storage Portfolio (two-property self-storage portfolio) Location: Las Cruces, NM Address 1: 5000 N Sonoma Ranch Blvd, Las Cruces, NM 88012 Address 2: 8590 Bataan Memorial East, Las Cruces, NM 88011 Seller: John Curry Construction and Real Estate Buyer: Westport Properties and Heitman (JV) Brokers and Brokerage: Charles “Chico” LeClaire, Adam Schlosser and Ryan Sarbinoff of The LeClaire-Schlosser Group of Marcus & Millichap NRSF: 116,458 Unit Count: 823 units Highlights (Both Facilities): Perimeter fencing Video surveillance Digital gate access LED lighting Spacious leasing offices with security Retail displays…

Featured Broker: Geramie Bascomb

Geramie is a full-service REALTOR that prioritizes community over commission. He joins Calvary Realty with a wealth of knowledge in both Residential and Commercial Real Estate services. Geramie is committed to delivering the highest quality Real Estate services by actively engaging with clients, associates, and the community. It’s this commitment and his unwavering devotion to the community that empowers Geramie to forge a lasting impression from day one. Contact Geramie today to get started on the next chapter of your Real Estate Journey. Contact: Geramie Bascomb Investment Advisor (909) 701-7770…

Self-Storage Developers Plans to Develop Former Sears Store at The Mall at Greece Ridge in Rochester, NY

Plans to convert the former Sears store at The Mall at Greece Ridge into a self-storage center are moving forward. SGRC LLC, an affiliate of mall owner Wilmorite Management Group, LLC, completed the sale of the former Sears retail property to a series of entities connected to True Storage. Headquartered in Manchester, N.H., True Storage specializes in the conversion of former big-box stores into self-storage facilities, which are then managed by third-party operators such as Cube Smart, National Storage and Store Space. 2527, LLC; Bourne Acquisition, LLC; Greece Ridge Property,…

Region Self Storage Announces Grand Opening and Future Expansion in Hobart, IN

Region Self Storage, a locally owned complex, is pleased to announce the completion of phase one at its new 13+ acre site located at 8300 Clay Street, at the intersection of Clay Street and Route 30. Phase one features one 11,200 square foot commercial building and five self-storage buildings consisting of 132 units. The complex officially opened on May 20. The development, when completed, will have five – 11,200 square foot commercial buildings and eight self-storage buildings boasting 230+ units ranging in sizes from 10×10 to 10×30. Each commercial building…

The Carlyle Group and Sabharwal Properties scored a $100 Million Loan to Refinance a Self-Storage Portfolio in New York City, NY

Self-storage isn’t worth what it once was. It’s a lot more valuable now. The Carlyle Group and Sabharwal Properties scored a $100 million loan to refinance a four-property portfolio in New York City, the Commercial Observer reported. The loan retires $75.8 million in construction debt originated by Bank OZK and Santander. PGIM Real Estate provided the debt on the four buildings, which were all completed in 2020 or 2021 and span 443,000 square feet across nearly 5,200 storage units. They include a CubeSmart Self Storage at 92 Caton Place in…

Featured Broker: Matt Wess

Before joining Lindsey Self Storage Group, Matt Wess began his self-storage career in 2008 with SecurCare Self Storage, where he oversaw acquisitions. In 2013, SecurCare became one of the three founding Participating Regional Operators (PROs) of National Storage Affiliates (NSA) before transitioning into a Public REIT in 2015. In 2019, Matt moved from his role at SecurCare to become the Manager of Acquisitions at NSA, where he played a key role in sourcing acquisitions, underwriting, transaction structuring, due diligence, and investment committee reviews for the company’s real estate acquisitions. Throughout…

Recent Transactions: 6.18.2024 – 6.24.2024

Property: Harrisonville Storage Location: Harrisonville, MO Seller: Harrisonville Storage, LLC Buyer: KO Storage Broker and Brokerage: Larry Goldman, CCIM of Argus Square Feet: 58,470 Unit Count: 482 units Economic Occupancy: 85%   Property: Storage King USA (Corpus Christi) Location: Corpus Christi, TX Seller: Andover Properties (Storage King USA) Brokers and Brokerage: Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal NRSF: 41,848 Unit Count: 306 units   Property: Prosper Self Storage Location: McKinney, TX Address: 5903 N Custer Road, McKinney, Texas Brokers and Brokerage: Danny Cunningham and Brandon…

Featured Broker: Ta’mara Jones

Ta’Mara is a passionate and engaging REALTOR® who takes pride in connecting with the individual. She brings over two decades of experience servicing non-profit, educational and private sectors as an administrator, assisting corporations and small businesses in advancing their goals with her keen eye for detail and creative approach to problem-solving. Ta’Mara began her career in real estate 17 years ago and is enthused to re-engage individuals in her community who desire to have a deluxe client experience. Contact: Ta’Mara Jones (310) 619-0244 tjones@calvaryrealty.com

Self Storage Market of the Month: Fall River, MA

StorTrack’s featured market this month is Fall River, MA. Fall River is a city in Bristol County, Massachusetts. Fall River’s abundant waterpower, harbor, and humid climate encouraged the growth of textile milling. Today, the textile and clothing industries continue to be the city’s largest source of employment. How is Fall River as a self-storage market and is it a good place to consider investing in? We’ve used StorTrack’s Explorer platform to look at some metrics to analyze its potential as a self-storage investment. Self Storage Market Metrics for Fall River,…

Noble Self Storage breaks ground on Batavia Square in Batavia, IL

Noble Self Storage breaks ground this week on Batavia Square on a new 130,000 square-foot two-story climate-controlled self-storage facility and a 44,729 SF high-end electric car dealership. Two years in the making, Noble Self Storage acquired the closed Sam’s Club building located at 510 N. Randall Road in Batavia in March 2024. Linda Kost represented the seller, 501 N. Randall Rd Batavia LLC Inc., and the buyer, Noble Self Storage/Bradley Financial Corp., Atlanta, GA. Linda Kost from Grid 7 Properties dba Realty Metrix Commercial was the sole broker in the…