Category: Recent Transactions

Phoenix-based Wentworth Property Co., in a joint venture with an institutional equity investor, has completed the disposition of a portfolio of 18 self storage properties across Arizona, Texas, Colorado, Utah and Idaho. A New York-based investment management company acquired the portfolio for $266.2 million. In total, the portfolio includes 9,600 storage units and 1.3 million square feet of rentable space. Six properties are in the greater Phoenix area, four facilities are in the Dallas/Fort Worth area, two assets are in El Paso, Texas, three properties are in Salt Lake City,…

After several failed attempts to push for a deal in private, Public Storage is taking its case to acquire one of its top rivals straight to shareholders. Public Storage made an $11 billion unsolicited bid to acquire Life Storage, the Wall Street Journal reported. The all-stock proposal was cemented with a letter sent to Life Storage management on Sunday. The proposal is worth roughly $129 per share. That’s a premium over Life Storage’s stock price, which closed at $110.58 before the weekend. Public Storage’s push to acquire its rival started…

Portfolio: Ozark Self Storage, Double Springs and Elkins Mini-Storage Closing Price: $22 Million ($8.45 million for Ozark Self Storage, $7.4 million for Double Springs Storage and $6.2 million for Elkins Mini-Storage) Locations: Springdale and Fayettville, AR Buyer: Dallas Beck Seller: Gregson, LLC Unit Count: 600+ Property: Eclipse Self Storage Closing Price: $14.1 Million Location: Evans, GA Broker and Brokerage: Michael Morrison of Midcoast Properties Buyer: Highline Real Estate NRSF: 105,714 Acreage: 4.0 Property: LaFayette Storage Solutions Closing Price: $14.1 Million Location: LaFayette, GA Broker and Brokerage: Michael Morrison of Midcoast…

Portfolio: Franklin Ohio Self Storage Location: Franklin, OH Brokers and Brokerage: Nathan Coe, Brett Hatcher and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap NRSF: 48,588 Unit Count: 336 Highlights: Two self storage facilities approximately 1.5-miles apart Growing surrounding population: the population has increased by 16% since 2000 within a five-mile radius Property: U-Stor-It Location: Albuquerque, NM Brokers and Brokerage: Jesse Cameron, Nathan Coe, Brett Hatcher and Gabriel Coe of the Hatcher-Coe Group of Marcus & Millichap NRSF: 55,625 Unit Count: 483 and four outdoor parking spaces Physical Occupancy:…

Portfolio: Eight-Property East Texas Self Storage Location: Dallas-Fort Worth Metroplex and East Texas Broker and Brokerage: Brandon Karr of Marcus & Millichap Buyers: LandPark Co. and Sunset Capital JV NRSF: 236,009 Unit Count: 1,440 Highlights: Eight facilities, comprised of 11 individual parcels, located in five different counties Exposure in Dallas-Fort Worth Metroplex (4th largest market in the US) Operational efficiencies available via management consolidation Portfolio: AmeriStorage Four-Property Portfolio Location: Andover, OH as well as Edinboro, Meadville and Saegertown, PA Brokers and Brokerage: Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel…

Property: American Storage Centers Location: Akron, OH Brokers and Brokerage: Brett Hatcher, Gabriel Coe and Nathan Coe of the Hatcher-Coe Group of Marcus & Millichap Highlights: Room for expansion Excellent location and street frontage Easy access to interstate 277 High daily traffic counts; approximately 12,500 cars/day off Waterloo rd and 71,500 off I-277 Dense surrounding population: 180,320 people within a five-mile radius Property: Greenkey Storage – Pasadena Location: Houston, TX Broker and Brokerage: Dave Knobler of The LeClaire-Schlosser Group of Marcus & Millichap Highlights: Keypad gate access Security lighting 24-hour…

Property: Big League Storage Location: Magnolia, TX Brokers and Brokerage: Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal Buyer: 10F Pursuit, LLC Seller: Big League Enterprises, LLC NRSF: 22,800 Unit Count: 129 Property: FM 812 Storage Location: Del Valle,TX Brokers and Brokerage: Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal Buyer: ATX FM 812 Storage, LP NRSF: 43,250 Unit Count: 257 Property: CubeSmart Self Storage Closing Price: $11 Million Location: Moncks Corner, SC Brokers and Brokerage: Ian Lindahl and Adam Schlosser of the LeClaire-Schlosser…

Property: Tiger Town Storage Location: Opelika, AL Broker and Brokerage: Kris Knowles of Midcoast Properties, Inc NRSF: 51,975 Acreage: 5.8 Unit Count: 327 Highlights: Standard drive-up and climate-controlled units 24- hour digital surveillance Fencing and electronic keypad gate access U-Haul truck rentals Property: Newly Constructed Self Storage Facility Location: New Rochelle, NY Brokers and Brokerage: Dustin Stolly and Jordan Roeschlaub of Newmark Buyer: Maya Capital Partners and Artemis Real Estate Partners NRSF: 96,693 Unit Count: 1,120 Property: Pines West Storage Center Closing Price: $17 Million Location: Pembroke Pines, FL Buyer:…