Category: Recent Transactions

CubeSmart (NYSE: CUBE) (the “Company”), today announced that it has entered into an agreement to acquire 100% of the outstanding partnership units of LAACO, Ltd. (“LAACO”), the owner of the Storage West platform for approximately $1.69 billion, which includes approximately $40.9 million of LAACO debt that will be repaid at, or shortly after, the closing. Storage West is the owner and operator of 59 self storage assets in the highly desired western markets of Southern California (22), Phoenix (17), Las Vegas (13), and Houston (7). Two of these properties are…

Three months after exploring a multi-billion-dollar sale of Manhattan Mini Storage, Edison Properties has found a buyer. StorageMart has reached an agreement to acquire Manhattan Mini Storage and its 18 self storage facilities in the borough, the Missouri-based firm announced Friday. Neither side disclosed the financial terms, but Crain’s reported that StorageMart paid just over $3 billion, citing people familiar with the matter. The acquisition brings StorageMart’s portfolio to 20 million net rentable square feet and more than 200,000 storage units worldwide, including in Brooklyn, where it has two locations, as…

Property: Mokena Self Storage Sale Price: $18 Million Location: Mokena, IL Broker and Brokerage: James “Ashley” Compton of the Self Storage Group of Colliers International NRSF: 108,724 Buyer: Trojan Storage Unit Count: 938 Climate Controlled Acreage: 4.086 Highlights: Certificate of Occupancy Sale In Will County, One of the Fastest-Growing Counties in the United States Situated Off 191st Street, a Major Five-Lane East/West Thoroughfare with Prominent Visibility and Ease of Access Along the Primary Artery Property: Central Self-Storage Sale Price: $12.3 Million Location: Chandler, AZ Broker and Brokerage: Steve Mellon, Brian…

Property: Alta Vista Storage Location: League City, TX Broker and Brokerage: Dave Knobler of  The LeClaire-Schlosser Group of Marcus & Millichap NRSF: 34,100 Unit Count: 358 Climate Controlled Acreage: 8.4 Room for Expansion: 3.7 Acres Highlights: Attractive Facade Vertical Pivot Gated Entry with Digital Keypad Full-Service On-Site Management Office 24/7 Video Surveillance Concrete Driveways Roll-Up Doors Property: Cumberland Storage Location: Tyler, TX Broker and Brokerage: Dave Knobler and Charles “Chico” LeClaire of  The LeClaire-Schlosser Group of Marcus & Millichap NRSF: 61,713 Unit Count: 539 Climate Controlled Occupancy: 100% Year Built:…

An affiliate of self storage real estate investment trust and management company National Storage Affiliates Trust (NSAT) has acquired 34 properties from investment-management firm Inland Private Capital Corp. (IPCC) for $265 million. The facilities comprise a total of 2.1 million square feet across four states. They were packaged in three IPCC-sponsored Delaware statutory trust (DST) programs, according to a press release. The storage sector has seen a dramatic increase in institutional demand for large scale, self storage transactions over the past 12 months and, as a result, we believed a…

Ackerman & Co. and Trout Daniel & Associates (TD&A) have brokered the acquisition of a 73,183-square-foot CubeSmart Self Storage facility in Fishers, IN on behalf of StorageMart. The facility, located at 10415 Allisonville Road, features a combination of 41 percent drive-up and 59 percent interior climate controlled self storage units. This property offers an outstanding location and demographics. Fishers, Indiana, is an affluent suburb of Indianapolis with a fast-growing population.” David Paulson, Stephen Lapierre and Wyatt Whitaker of Ackerman Co. and Steven Cornblatt and Coleman Tirone of Trout Daniel &…

Public Storage (NYSE:PSA), the leading owner, acquirer, developer and operator of self storage properties, announced today the acquisition of the high-quality All Storage portfolio for $1.5 billion. The portfolio comprises 56 self storage properties (7.5 million net rentable square feet) primarily located in the growing Dallas-Fort Worth market. The 52 properties in Dallas-Fort Worth add prominent locations in new, high-growth submarkets in addition to complementary locations in Public Storage’s existing submarkets. With the addition of the acquisition properties, the Company’s Dallas-Fort Worth portfolio will be unmatched in coverage and quality,…

A New York-based real estate investment trust made a hefty play on the Miami-Dade County self-storage market with the $43.5 million purchase of two facilities. Life Storage bought the buildings at 201 Northwest 37th Avenue and 6850 Southwest 81st Terrace in two deals. Entities tied to Kirchhoff Companies sold the buildings. Life Storage paid $22.5 million for the eight-story, 142,207-square-foot building on 37th Avenue. The property, which is in Miami, was constructed in 2018, property records show. Kirchhoff’s affiliate bought the 0.7-acre lot in 2016 for $1.3 million. In the…

SpareBox has acquired four facilities in Greater Austin and Rogers, AR, expanding its portfolio by a total of 700,000 square feet. The company purchased the assets from four different sellers. The Austin acquisitions are SpareBox’s first foray into the market. While the Arkansas asset is the fifth SpareBox location in the state’s northwest region. Since its launch last year, the company built a portfolio of 6.3 million square feet across 95 facilities. Last month, SpareBox made one of its largest purchases expanding its footprint by 1.9 million square feet of storage across…

Property: Pine Island Storage Location: St. James City, FL Brokers and Brokerage: Meir Perlmuter, Brett Hatcher, Nathan Coe and Gabriel Coe of the Hatcher Group of Marcus & Millichap NRSF: 41,085 Unit Count: 343 Highlights: Over $50,000 In Capital Improvements: LED Lighting, Paint, Siding, Roof Touch-Ups Closest Storage Facility Is Six Miles Away In 2011, a Photo Voltaic Solar System was Installed Reducing Energy Usage to Zero Property: Cherryville Self Storage Location: Cherryville, PA Brokers and Brokerage: Luke Dawley, Brett Hatcher, Nathan Coe and Gabriel Coe of the Hatcher Group…