Arcland Property Company and Self Storage Plus Open Class A Storage Facility in Randallstown, MD

Arcland Property Company, a leading developer and owner of self storage in the mid-atlantic region, has brought another Class A self storage facility to Maryland. The facility will be managed by Self Storage Plus, which marks the 31st property in Maryland for the property management platform. We are ecstatic to add another well designed Class-A facility to suburban Baltimore.” Within one mile of two shopping centers, the facility boasts visibility from 30,000 cars a day, making it an ideal investment for Arcland. “We are ecstatic to add another well designed…

Recent Transactions: 01.17.2023 – 01.23.2023

Property: Kennedy Self Storage Location: McKees Rocks, PA Brokers and Brokerage: Gabriel Coe, Luke Dawley, Brett Hatcher and Nathan Coe of the Hatcher Coe Group of Marcus & Millichap NRSF: 26,725 Unit Count: 157 non-climate controlled units plus three additional units Physical Occupancy: 100% Highlights: Located in Pittsburgh MSA self storage facility Under ten miles from Pittsburgh International Airport, Heinz Field, PNC Park, PPG Paints Arena and Duquesne University Dense surrounding population: 157,430 people living within a five-mile radius Property: Master Key Storage Location: Sweetwater, TN Brokers and Brokerage: John…

2022 Closing Highlights

Closings from the National Self-Storage Advisory Group of Cushman & Wakefield: Portfolio: Tuck It Away Storage (REIT Managed) Three-Property Portfolio Sale Date: July 2022 Location: New York, NY Square Footage: 154,592 Unit Count: 3,665 Portfolio: CubeSmart Palm City Two-Property Portfolio Sale Date: April 2022 Location: Palm City, FL Square Footage: 24,131 Property: San Antonio, TX Self Storage Sale Date: June 2022 Location: San Antonio, TX Square Footage: 91,909 Unit Count: 1,086 Acreage: 2.0 Year Built: 2020 Overall National Self-Storage Advisory Group of Cushman & Wakefield highlights: Over $1.8 billion in…

Bellevue, WA

Using the Market Discovery Tool from StorTrack’s Explorer product, we identified Bellevue, a city located across from Seattle on Lake Washington in Washington. With over 100 parks, Bellevue is known as “a city in a park” though it is still the fifth largest city in the state. Current Supply At 5.77 square feet per capita and with a population anticipated to grow to 156,728 by 2025 (up 7.24% since 2020), the city could potentially tolerate new supply. New Supply Public Storage is currently developing their seventh facility in Bellevue, a…

Recent Transactions: 01.10.2023 – 01.16.2023

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…

What to Know about Boat and RV Storage

In this video chat, we are joined by Greg Ellsworth of Self Storage Consulting Group, Amy Bix of Toy Storage Nation and Terry Anderson of Tenant Property Protection to discuss nuances of the boat and RV storage sector. We’ll cover site selection, differentiators between class A, B, C and D facilities, development considerations and insurance concerns. Additionally, you’ll learn about how this tenant base varies from traditional storage customers with their expectations and tolerance for price increases. Tune in to learn about the booming boat and RV industry or read…

JLL Acted as Exclusive Financial Advisor to Clear Sky Capital in Forming a Strategic Venture Focused on Further Scaling its Self Storage Platform

JLL also sourced permanent and construction financing for the recapitalization of the venture’s initial seed portfolio. JLL Capital Markets announced today that it completed the formation of an institutional strategic venture sponsored by Clear Sky Capital (“Clear Sky”). The venture entailed recapitalizing a portfolio of value-add self-storage assets totaling 2,900 units in Arizona and California that are either in lease-up or under development on behalf of Clear Sky that formed the initial seed portfolio for the vehicle. JLL also arranged both five-year, fixed-rate acquisition loans and a construction loan through…

Recent Transactions: 01.03.2023 – 01.09.2023

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…

Cronheim Mortgage Arranges $12.9 Million Construction Loan for El Paso Self Storage Project

New Jersey-based Cronheim Mortgage has arranged a $12.9 million construction loan for a self-storage project in El Paso. The facility will span 151,000 net rentable square feet across approximately 1,200 units with both climate- and non-climate-controlled space. The borrower and developer, Verturo Interests, will operate the facility under its Just A Closet brand. David Poncia of Cronheim Mortgage originated the financing, which was structured with a fixed interest rate and a 75 percent loan-to-cost ratio, through a local bank. Completion is slate for the fourth quarter. Source

Bakke, Batson-Cook Break Ground on 802-Unit Self Storage Facility in McAllen, Texas

A partnership between San Antonio-based Bakke Development Corp. and Atlanta-based Batson-Cook Development Co. has broken ground on an 802-unit self-storage facility in the Rio Grande Valley city of McAllen. Designed by Alamo Architects and built by Independent Contractors Inc., SharyBak Storage will be a three-story building that will sit on two acres at 4901 E. Expressway 83. Frost Bank provided construction financing for the project, which is slated for a first-quarter 2024 completion. The development follows the partnership’s start of construction on a 781-unit self-storage facility in McAllen earlier this…