Category: Recent Transactions

SpareBox Storage, a national self storage platform focused on consolidating the highly fragmented self storage market across the United States, recently purchased 13 stabilized properties in Myrtle Beach, SC and Amarillo, TX from multiple sellers. Combined, these properties are comprised of approximately 330,000 net rentable square feet and 2,500 units with over 88% occupancy. “These acquisitions underscore SpareBox’s strategy in building a diversified portfolio of high-quality, stabilized assets in secondary and tertiary markets with great demographic fundamentals.”   The South Carolina portfolio acquisition opens a promising new market for SpareBox…

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of I-20 Ranch Self Storage, a 55,956-square foot self storage facility located in Longview, Texas, according to Mark R. McCoy, regional manager of the firm’s Fort Worth office. Brandon Karr, Senior Vice President Investments, and Danny Cunningham, First Vice President Investments in Marcus & Millichap’s Fort Worth office, had the exclusive listing to market the property on behalf of the sellers, a family operation based…

InSite Property Group bought a 3.5-acre site at the intersection of South Alameda Street and Firestone Boulevard in Los Angeles, CA. It intends to build a 121,000-net-rental-square-foot, climate-controlled SecureSpace storage facility with more than 1,200 units. There also will be two retail spaces. Source

Marcus & Millichap has brokered the sale of Amadco Self Storage, a facility in Fort Worth. The number of units was not disclosed. The property is situated on 10 acres and spans 31,305 net rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity. Source

Toronto-based Bluebird Self Storage continues to expand across the country with an aggressive plan to grow its portfolio. Recently, the company announced it had acquired StoreSmart Self Storage’s five locations in Alberta – Canmore, Cochrane, Edmonton, Red Deer and Sherwood Park – adding 3,000 units comprising 362,000 square feet of space to its portfolio. Bluebird is now the fourth-largest self storage company in Alberta and seventh-largest in Canada. Reade DeCurtins, Bluebird Self Storage’s co-founder and real estate director based in Calgary, said the Alberta market is fertile ground for the…

A 1-acre industrial property in Bella Vista changed hands recently for $800,000. Shaw Property Holdings LLC, managed by James Shaw, bought the Bella Vista Central Storage self storage facility at 687 Rogers Road. BV Central Storage, managed by Zack Quick, was the seller. Arvest Bank provided financing with a five-year, $640,000 loan. City Title & Closing was the title agent. Zack Kifer with Newmark Moses Tucker Partners represented the seller. Josh Singleterry with Newmark Moses Tucker Partners represented the buyer. The 85-unit facility includes multiple buildings totaling 13,886 square feet…

Merit Hill Capital purchased Good Spot Storage, a 30,000 square foot, self storage facility at 3735 Mangum Rd., as reported by BizNow. Marcus & Millichap’s Dave Knobler marketed the property on behalf of the seller, a private investor. Source

The LeClaire-Schlosser Group of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of StorageBay Rexburg, a 12,652 square foot storage facility located in Rexburg, Idaho. Jordan Farrer, Investment Associate, in the firm’s Salt Lake City office and Adam Schlosser, Senior Vice President Investments, in Marcus & Millichap’s Denver office procured the Buyer.  “Through a number of conversations with the owners, we knew the family was looking to move on from the property and…

The facility, purchased by Trojan Storage, consists os 29,765 rentable square feet throughout 264 units.  CBRE’s Nick Walker, Trevor Roberts, and Morgan Windbiel represented the seller. Source

Zachary Urow and Ryan Clarke of Skyview Advisors arranged the sale of Extra Space Storage in Richmond, TX. The facility consists of 745 units throughout 93,630 rentable square feet.  Source