Author: Shinil Krishnan

Realty Capital, DXD Underway on 664-Unit Self Storage Facility on Long Island

The new Extra Space Storage facility in Huntington Station, New York, will consist of 62,125 net rentable square feet across 664 climate-controlled units.” A partnership between Dallas-based investment firm Realty Capital Partners and self-storage developer DXD Capital is underway on the construction of a 664-unit facility in the Long Island community of Huntington Station. The facility will total 62,125 net rentable square feet of space that will be entirely climate-controlled. Construction began in June and is expected to be completed in August 2024. Extra Space Storage will operate the facility,…

Self Storage Facility Opens in Old Weis Store in Hanover

We are excited to expand to a new state as we continue to build our presence throughout the mid-Atlantic and Southeast regions,” – Anthony Piscitelli, Senior Vice President of Investments – Arcland Property Co. Washington, D.C. based Arcland Property Co. has opened a self-storage facility in Penn Shopping Plaza on the south side of Hanover, its first self-storage location in Pennsylvania. The new facility, at 1049 Baltimore St. near Grandview Plaza, is part of Arcland’s continued expansion efforts in the mid-Atlantic, representing the 45th property for the region’s largest private…

Merriman Anderson Architects Completes Self Storage Facility

Merriman Anderson Architects announced Monday the completion of Cardinal Road Self-Storage, a three-story climate-controlled facility, in Waxahachie. MAA provided architectural and interior design services encompassing more than 76,000 square feet and 570 separate storage units. The building is constructed from concrete masonry block and load-bearing metal studs. The exterior is clad in block, transitioning to exterior insulation finishing system, which offers flexibility in design aesthetics while meeting the latest insulation energy codes. By incorporating EIFS into the design and construction, MAA was able to customize the graphics and colors on…

Landpark Advisors Secures Strategic Self Storage Asset in Port Arthur, Texas

  Our comprehensive due diligence process identified the presence of handwritten ledgers and legacy management systems at Park Central. To propel the facility to the forefront of the market, we plan on implementing our advanced revenue management software and deploying a state-of-the-art website, in line with its imminent rebranding as Right Move Storage Memorial Blvd.” – Darren Kelley, President – Right Move Storage LandPark Advisors, LLC, in collaboration with Sunset Capital, LLC (collectively, “LandPark Sunset Storage II”) has successfully procured a key self-storage facility in the burgeoning city of Port…

Recent Transactions: 7.18.2023 – 7.24.2023

Property: Davenport Storage Center Location: Davenport, IA Brokers and Brokerage: Matt Haugen, Alex Ihrke, Nathan Gottlieb and Tom Flannigan of Area Commercial Real Estate Services – the Broker Affiliates for the Argus Self Storage Advisors NRSF: 22,780 Unit Count: 108 drive-up, climate-controlled and portable container units Highlights: The property includes an on-site apartment   Property: Bonus Room Storage Location: Candler, NC Buyer: StorSafe Square Feet: 40,733 (additional 6,000 Sq Ft on-site warehouse can be converted into extra storage units) Unit Count: 141 non-climate-controlled and 176 climate-controlled units + 39 parking…

Storage Exchange Closes Over 142,000 NRSF in Q2: Three Self Storage Transactions are Successfully Facilitated

Storage Exchange announces the closing of three self-storage transactions in Q2 of 2023, comprising of four facilities and over 142,000 NRSF. These properties are located in Colorado and Indiana. Aurora Self Storage and Loveland Self Storage: Located in Aurora, CO and Loveland, CO, this two-property portfolio contains 50,650 rentable square feet. The two facilities are located about 50 minutes from each other and well-positioned in the high-growth markets of Denver and Fort Collins. Taylor Cahn, VP of Investment Sales for Storage Exchange, facilitated the sale of both properties. Country Storage:…

What’s the Cap? – Hunter Molnar, Co-Founder & Managing Director of Storage Exchange

What’s the Cap? One of the most important qualities of an effective broker is the ability to be objective. This can be challenging as brokers often operate between presenting an attractive proposal and following appropriate market pricing guidance. Pricing guidance is determined by three factors: current in-place cap rate, effective cap rate, and stabilized pro forma cap rate. In this article, we’ll review a case study of one of our recent sales and discuss how each cap rate affects pricing. Deal Highlights: Occupancy: 92% physical, 83% economic Expense load: 23%…

10 Federal Raises an Additional $27 Million in Q2 for 4th Self Storage Offering, Bringing Total Capital Raised to $60 Million

10 Federal, a leading operator of self-storage facilities, is pleased to announce the successful capital raise of over $27 million during the second quarter of the year for their 4th Self Storage offering. This impressive achievement has propelled the total capital raised by 10 Federal to an impressive $60 million for the year. The substantial capital infusion highlights the strong investor confidence in 10 Federal’s innovative business model and their consistent track record of delivering exceptional returns. These funds will further fuel the company’s growth strategy and facilitate the acquisition…

New U-Haul Center Slated for San Antonio

A modern U-Haul retail, moving and self-storage complex is coming to 9451 Interstate 10. The company bought the property in 2022. Currently, there is a temporary showroom already open and offering truck and trailer rentals, boxes and moving supplies, U-Box portable storage containers, towing equipment and much more. U-Haul Storage of Wurzbach will soon offer 1,000-plus indoor ADA-accessible storage units with climate-control options and high-tech security features at affordable price points. There will also be a spacious retail showroom, and services like propane and professional hitch installation. The company is…

CubeSmart Self Storage Open in Wildlight

An 82,000-square-foot CubeSmart self-storage facility developed by Skinner Bros. Realty and The Silverfield Group is open at Village Center in Wildlight, the master-planned development near Yulee in Nassau County. A news release from Wildlight said Skinner Bros. Realty also added two more retail tenants: Icon Golf Cars and Great Clips. “We aim to deliver quality services and products that not only provide value for Wildlight residents, but strengthen the local community,” Chet Skinner, vice president of Skinner Bros. Realty, said in the release. “We planned the Wildlight community with thoughtful…