Author: Shinil Krishnan

Recent Transactions: 02.28.2023 – 03.06.2023

Property: Old Town Storage Location: Winston Salem, NC Brokers and Brokerage: Nathan Coe, Gabriel Coe and Brett Hatcher of the Hatcher-Coe Group of Marcus & Millichap NRSF: 7,200 Unit Count: 75 non-climate-controlled units and 40 parking spaces Physical Occupancy: 83% Highlights: Dense & growing surrounding population: 92,976 people living within five-miles – which represents a 19% increase since 2000 Affluent market: $93,825 average household income within five-miles of the facility Portfolio: All Steel Storage Two Property Portfolio Location: Lake Placid & Sebring, FL Brokers and Brokerage: Gabriel Coe, Brett Hatcher,…

Featured Broker: Mike Helline

Mike Helline is a licensed real estate agent in Kentucky specializing in retail, investment and self storage properties. He is the Argus Broker Affiliate for the states of Kentucky & Tennessee. Mike also has extensive experience in the automotive and automotive after-market accessory businesses as well as experience in the car wash industry. Mike holds a degree in business administration from Bellarmine College. He also served in the U.S. Navy.

50-Unit Storage Facility Opens in Old Snowmass

The first self storage facility ever built in Snowmass.” Snowmass Self Storage consists of two new buildings with small and large units in Old Snowmass near the corner of Highway 82 and Snowmass Creek Road. The buildings were constructed in the same location as a former open lot that contained various vehicles and watercraft. Amid a market in which availability at regional storage facilities has been limited in recent years, two entrepreneurs have opened a new storage center in Old Snowmass. Snowmass Self Storage, developed by Ryan Chadwick and business…

Associated Banc: Bank Announces $8.6 Million Loan for Self Storage Facility in Spring Hill, Florida

Associated Bank announced the closing of an $8,639,027 bridge loan to an affiliate of Metro Storage LLC for the completion of 504 climate-controlled self-storage units (49,806 square feet), and 39 non-climate-controlled units (13,050 square feet), at 3286 Barclay Avenue in Spring Hill, Florida. The project also includes 83 covered and 31 covered RV and boat parking spaces. The property was previously vacant land.” Lake Forest, Illinois-based Metro Storage LLC manages over 6.1 million square feet of storage across 88 locations in 12 states and is among the largest private owners/operators/managers…

The Roll Up: Developer Breaks Ground on 7-Story Long Island Facility

In Hempstead, NY on Long Island, LSC Development LLC broke ground on a seven-story self-storage building. It will have 1,382 climate-controlled units spread across 112,188 NRSF. It’s scheduled for completion in Q4 2024. Mancini Mui Architects designed the building. Park East Construction is serving as a general contractor and Centier Bank is providing a construction loan. Source

Absolute Storage Adds 3 Facilities to Management Portfolio

The properties are located in Georgia, Louisiana and Texas.” Absolute Storage Management has been selected to provide management services for three self storage facilities located in three Southern U.S. states, starting January 2023. The properties are in Georgia, Louisiana and Texas, with the last two under private ownership. Absolute Storage Management, founded in 2002, operates more than 140 properties across the U.S. Lumpkin 400 Storage in Dahlonega, Georgia, is an 88,396-rentable-square-foot facility that comprises 573 non-climate and climate-controlled units, ranging from 25 to 300 square feet. The property is located…

Recent Transactions: 02.21.2023 – 02.27.2023

Property: Tech Secured Storage Location: Tomball, TX Year Built: between 2019 and 2020 Brokers and Brokerage: Dave Knobler, Brian Kelly, Brett Hatcher and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap Average Household Income: $145,472 Daily Traffic Counts: 30,200 cars/day NRSF: 60,025 Unit Count: 530 Highlights: Facility is equipped with state-of-the-art technology Booming population growth area of Tomball: there are currently around 68,000 residents within three miles and the area is projected to grow 25% within five years Property: Absolute Mini Storage Location: Archdale, NC Brokers and Brokerage:…

New Management For Local Self-Storage Facility

  New Management in Dahlonega, Georgia” Local acquisition of Lumpkin 400 Storage is bringing professional self-storage management to the city of Dahlonega. The facility is located at 210 Ethan Allen Drive Dahlonega, GA. This facility is comprised of 573 units totaling 88,396 rentable square feet, providing safe and secure climate-controlled, non-climate, and parking unit options to the local communities of Auraria, Lumpkin, and Dawson. The ownership group has contracted with Absolute Storage Management (Absolute) to provide professional self-storage management services and the facility is officially under Absolute’s management as of…

$42 Million Sale of Storage Facility Nets Land Bank a Massive One-Day Haul

  A massive arm’s length real estate deal that was completed on Monday has netted the Nantucket Land Bank $840,000, the second largest transfer fee received in its four-decade history.”   The Go Store It self storage facility on Tomahawk Road has been “sold” for a whopping $42 million. It’s unclear if the deed transfer represents a buyout within the company, a shuffling of limited liability company ownership for tax purposes, or some other corporate strategy. But one thing is clear: it means a huge one-day haul for the Land…

A Private Equity Real Estate Investor Bets Big on Self Storage

Prime Group Holdings’ latest self storage fund reached its hard cap of $2.5 billion. Single-sector private equity real estate funds are not unusual, but the majority tend to target core real estate assets. But Prime Group Holdings LLC has found success off the beaten path, focusing its funds on niche property types. Investors have poured $2.5 billion into its latest initiative, Prime Storage Fund III, focused on the self storage space, blowing past the fund’s $1.5 billion target to reach its hard cap of $2.5 billion. The offering is the…